Jobs are back’ says the Naukri.com Job Speak
The new Naukri Job Speak index at 947 for Feb-10 as compared to 808 in Jan-10 indicates a positive hiring sentiment among recruiters and jobseekers.
- The Naukri Job Speak Index for Feb-10 surges by 17% over Jan’10 indicating strong rebound in the job market.
- The Naukri Job Speak index from Feb’10 onwards will not only include jobs posted online by clients but also incorporate jobs acquired from existing clients by our tele-calling team.
- Jobs are back’ says the Naukri.com Job Speak, as the job index for Feb’10 at 947 is at an all time high in the last one year
- A buoyant economic scenario is reflected in the old job index too where the index moved up by 14% in Feb’10 overJan’10
- ·Both new as well the old job index indicate that hiring has surged in Feb’10 as majority of industries, functional areas and all cities have registered an increase in the job index
A similar sentiment is echoed in the old job index (includes only jobs posted online by clients) as well, where the job index moved up by 14% in Feb’10 overJan’10. This clearly shows that the tidings in the job
market has seen stability over the past few months and major industry sectors like IT, ITES, Auto and Banking have started hiring again.
Hitesh Oberoi*, COO, Info Edge said “The recruitment activity accelerated in Feb’10 reflecting the underlying strength and positive momentum in the job market. The 'cautious optimism' that pervaded throughout the last year
and a half has evaporated as most industry sectors are now looking to hire”.
A detailed analysis of the Job index shows that hiring activity across functional areas have moved up with IT software, Sales and Production witnessing the highest growth. All cities show a positive hiring index with Hyderabad being most bullish on hiring in Feb-10 over Jan’10. Although majority of industry sectors show an upsurge in hiring activity but job
index for the Telecom sector at 850 is the highest index for the sector in the last six months. The job index for all experience brackets moved up with growth ranging between 17-19% in Feb’10 over Jan’10.
Change in methodology*: A change has been introduced in the methodology of computing the Naukri Job Speak index. The Naukri Job Speak index will now not only include online jobs but also incorporate jobs acquired from existing clients by our tele-calling team. Although this data is a small component of the entire job postings on Naukri, addition of the same to the index will give a more holistic picture of the job market in India.
Therefore, the Job index which is reflective of the job listings on the site has been realigned (including the jobs acquired from existing clients by our tele-calling team) from July’08 onwards. The Feb Job Speak report will show the hiring activity in India as per the new job index and the old job index. It is evident from the report that the new job index and the old job index indicate a similar hiring pattern. We will be reporting both old and the new index for the next three months and then move to the new index.
City wise Analysis: All cities show an upward moving index in Feb’10 over Jan’10
In a recent Naukri.com survey 23% people said that they would love to work in Hyderabad as opposed to other cities and the Feb job index saw Hyderabad being most bullish on hiring, with both old and the new job index moving up
by 29% as and 25% in Feb’10 over Jan’10. Chennai, Delhi and Bangalore witnessed a growth in index by 21%, 12% and 11% in Feb’10 over Jan’10.The hiring activity for Kolkata picked up by 21% in Feb’10 after two successive
months of dip in the index.
Industry Analysis: Hiring activity for the top 10 industry sectors saw positive growth in both new as well as the old job index** *
Both new as well as the old job indices show that most industries are on the track to bounce back to the pre slowdown levels. Telecom sector has witnessed a 27% growth in hiring in Feb’10 over Jan’10. This is primarily because of the introduction of six to seven major operators in the country. The Hiring activity for IT-software and Auto sectors moved up by 24% and Banking and Insurance sectors moved up by 14% in Feb’10 over Jan’10.
*Functional Area / Department Analysis: Both the new as well as the old index reflect that professionals in Production and Maintenance were high in demand as their index picked up after two months of successive dip in the
The IT sector has been witnessing a rapid growth in hiring and this trend is also reflected in the demand for IT software professionals where the new job index moved up by 24% in Feb’10 over Jan’10.Professionals in Sales and Accounts also witnessed an increase in the new job index by 18% and 19% in Feb’10 over Jan’10. Both the new and the old job index indicates that the top 15 functional areas have seen an upsurge in hiring activity Overall, the index seems to be moving in a robust manner with hiring moving up across all industry verticals, functional areas and cities.
Naukri.com, India’s No. 1 job site and the flagship brand of Info Edge revolutionized the concept of recruitment in India. Since its inception in 1997, Naukri.com has seen continued growth. Info Edge completed a successful IPO in November 2006 and remains the only listed Internet Company in India.
Naukri.com is a recruitment platform that provides hiring-related services to corporates/ recruiters, placement agencies and to job seekers in India and overseas. It offers multiple products like Resume Database Access, and Response Management tools and its services include Job Postings, and branding solutions on the site. With 2,00,000 jobs live at any point, Naukri.com serviced over 34000 corporate clients in 2008-2009.
The company has over 1400 people operating through 54 offices in 37 cities in India and overseas offices in Dubai, Riyadh and Bahrain.
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