92% recruiters optimistic about hiring in H1CY23: Naukri.com report

Following a tumultuous layoff period, as many as 92 per cent of recruiters and recruitment consultants have expressed optimism about hiring in the first half of calendar year 2023, according to a report by job portal Naukri.com.

Layoffs, the report says, are expected to ease out. Only 4 per cent of recruiters surveyed predicted layoffs/downsizing as the dominant hiring activity in their organizations during the first six months of 2023, with IT emerging as the functional area that is expected to witness the maximum impact of hiring corrections. Other functional areas expected to exhibit similar trends include Business Development, Marketing, HR, and Operations.

Recruiters foresee maximum layoffs for senior professionals, with 20% of recruiters predicting the same. Freshers are expected to be least impacted by hiring corrections.

Around half of the recruiters surveyed foresee high attrition rates to prevail in the first half of 2023. IT roles are expected to witness highest attrition, followed by Business Development, Marketing, and HR & Administration.

1,400 recruiters and consultants representing over 10 major sectors were surveyed in the report.

Source: Naukri.com
Hiring Outlook by Recruiters in H1 CY23
Category	% of Organizations
New jobs will be created & replacement hiring will happen	46%
New jobs will be created	29%
Only replacement hiring, maintaining headcount	17%
Downsizing/layoffs will happen	4%
No hiring will take place	4%
Hiring Across Functional Areas in H1 CY22

Functions

% of Organizations

IT 23% Business Development 16% Marketing 14% HR and Administration 11% Operations/Supply Chain 10% Accounts/Finance 10% Analytics 6%  

Hiring Across Experience Level

Experience Level

% of Organizations

0-1yrs 11% 1-3yrs 19% 3-5yrs 26% 5-8yrs 22% 8-12yrs 14% >12yrs 8%  

% of Layoffs in Function Areas

Functions

% of Layoffs

Marketing 10% Business Development 13% HR and Administration 19% Accounts/Finance 8% Operations and Supply Chain 13% Analytics 9% IT 26%  

% of Layoffs Across Experience Levels

Experience Level

% of Layoffs

0-1yrs 16% 1-3yrs 15% 3-5yrs 15% 5-8yrs 17% 8-12yrs 17% >12yrs 20%    

Projected Salary Increments by Recruiters

  Increment Range

% of Organizations

<5% 7% 5-10% 20% 10-15% 22% 15-20% 18% 20-30% 18% >30% 15%    

Projected Status of Campus Hiring

  Status

% of Organizations

On hold 37% There will be a reduction 18% Campus hiring will go as planned 35% Campus hiring will go up going forward 10%