Chennai sees a growth of 30% in hiring for February 2019 as compared to February 2018
The NaukriJobSpeak Index for February 2019 at (2,415), marked a 16% increase in hiring activity from February 2018 (2,087).
In the month of February 2019, hiring in Chennai was up by 30%, likewise Bangalore was up by 19%, Pune by 25% and Hyderabad by 14%. Overall, IT – Software industry has been on a hiring spree in February 2019. The industry clocked in a growth of 38% in hiring, making it one of the fastest growing industries. Also, Construction & Engineering industry saw an increase in hiring with a growth rate of 16%. Hiring in HR functional area witnessed a positive growth of 20%.
Commenting on the report, Sumeet Singh, CMO, Infoedge India Ltd. said, “The JobSpeak index continues to sustain the momentum gained and has shown a 16% YOY growth in Feb preceded by a 15% growth in Jan. Naukri’s latest Hiring outlook survey with over 3300 recruiters across the country had anticipated increased hiring, wherein 84% recruiters surveyed said that new jobs would be created. It is good to see this growth led by core sectors viz. IT, Construction, Engineering & FMCG”.
Key Highlights of NaukriJobSpeak for Chennai (February 2019vsFebruary 2018)
Hiring Trends – Industry Wise
February 2019 witnessed a rise in hiring activities across various industries. Recruitment activity in Chennai that observed a rise were in IT-Hardware (48%), Auto/Auto Ancillary (26%), IT- Software (39%), Pharma (31%) and BPO (13%). However, hiring in Hotel and FMCG industry saw a dip by 38% and 14% respectively.
The above graph depicts the year-on-year increase in hiring activity across industries in Chenna.
Hiring Trends – Functional Area Wise
Increase in the demand for jobs in various functional areas was observed in the month of February 2019 for Chennai. The verticals that witnessed an increase in hiring activity year-on-year were IT-Hardware (42%), IT- Software (38%), ITES (8%) and Accounts (4%). However, Functional areas in Hotels and Pharma saw a dip of 45% and 18% respectively.
The above graph depicts the year-on-year increase in hiring activity across industries in Chennai
Hiring Trends – Experience Wise
Hiring for a talent of 4-7 years of experience grew by 25% whereas recruitment for entry-level jobs that is an experience band of 0-3 years witnessed a rise of 20% in February 2019. Recruitment activity for mid-management roles of 8-12 years of experience grew by 18%, while senior management roles of 13-16 years of experience recorded a 6% rise in hiring. Leadership roles with experience band of 16+ years saw a dip by 2% in the recruitment activity.
Hiring Trends – City Wise
Demand for talent grew across metropolitan cities. Some of the emerging trends observed in the cities are elaborated below –
● Hyderabad: The city witnessed a rise in recruitment activity of 14%. The rise in hiring was observed in industries such as IT- Hardware (58%), FMCG (42%), and Auto (37%). Hiring activity for Functional area – Banking saw a dip by 10%. Demand for leadership roles, with an experience band of 16+ years was maximum with a growth rate of 35%.
● Pune: Hiring activity for the city increased by 25%. Hiring in FMCG industry saw a growth rate of 38%. The experience band which observed maximum hiring activity was between 4 to 7 years with a growth rate of 25%
● Bangalore: Overall hiring activity in Bangalore grew by 19%. IT-Software industry (48%) indicated increased recruitment activity in February 2019 while the BFSI sector saw a dip by 27%. Hiring for management roles with experience band of 4-7 years saw a growth of 29% in February 2019.
The NaukriJobSpeak is a monthly Index which calculates and records hiring activity based on the job listings on Naukri.com website month on month. The objective of NaukriJobSpeak is to measure the hiring activities in various industries and the data is compiled of companies which are registered on the platform and reflects gross hiring (includes replacement hiring). July 2008 is taken to be the base with a score of 1,000 and the subsequent monthly index is compared with the data for July 2008. The jobs analyzed for the monthly Index are qualified on the basis of white collar, urban, belonging to organized corporate sector jobs with a main focus on service industries. The report shows hiring trends across industry sectors, geography, experience level and functional areas. More than 76,000 national and international clients use Naukri.com, leading to high reliability of data. The report does not cover gig employment, hyperlocal hiring or campus placement. Over a long period of time, the NaukriJobSpeak was impacted by the increase in the Naukri traffic share, internet penetration, Naukri pricing strategy and job listing drives.