92% of Indian recruiters expect either new or replacement hiring in next 6 months: Report

About 92 per cent of Indian recruiters expected either new or replacement or both hiring forms to happen over the next six months, a new report showed on Monday.

According to the report by job platform Naukri, nearly 47 per cent of the recruiters predicted new and replacement hiring, 26 per cent expected only new job creation, and 20 per cent said they would maintain their headcount in the coming six months.

Only 4 per cent of recruiters foresee layoffs/downsizing in the July-December period.

“With 92 per cent of recruiters forecasting hiring activity, coupled with a return to normalcy in hiring practices anticipated by more than half of the recruiters surveyed, hiring outlook survey manifests an optimistic white-collar hiring landscape in the forthcoming half of 2023,” said Pawan Goyal, Chief Business Officer at Naukri.com.

Moreover, the report said that most of the recruiters expected Business Development, Marketing, and Operation roles to be leading hiring in the coming six months.

Mid-Experience professionals were expected to remain in demand, followed by entry-level professionals.

Nearly 70 per cent of recruiters predicted attrition rates to remain below the 15 per cent level in the coming six months, and only a tiny fraction of them predicted higher attrition rates of 40 per cent or more.

These expectations around attrition trends show that employees will look to hold onto their current job profiles amidst current job market uncertainties.

The highest attrition rate is expected across Business Development, Marketing, Operations, and HR roles, as well as, mid-level experience professionals, according to the report.

The majority of recruiters remained cautious concerning the increments offered by their organisations during the last appraisal cycle, with 42 per cent of recruiters saying that their companies gave less than 10 per cent increment and 31 per cent of recruiters revealing that their organisations gave increments in between 10-15 per cent.

Only 6 per cent of recruiters said that over 30 per cent of increments were rolled out in the last appraisal cycle.