Recruiters in India are anticipating a decrease in layoffs in the first half of 2023, according to a survey conducted by job portal Naukri.com. The survey, which gathered insights from 1,400 recruiters and consultants across ten sectors, found that only 4 percent of respondents expected layoffs to be the dominant hiring activity in their organisations.
However, the survey also revealed that information technology roles and senior professionals will be the most impacted by hiring corrections. Recruiters expect the maximum layoffs to be for senior professionals, with 20 percent of recruiters predicting the same. Freshers are expected to be the least impacted by hiring corrections.
The survey also showed that around half of the recruiters expect high attrition rates of over 15 percent during the first half of the year, with information technology roles being the most affected. Despite these challenges, 92 percent of the recruiters expressed optimism about hiring in the first half of the new year.
Nearly half of those surveyed expect new and replacement hiring, 29 percent expect only new job creation, and 17 percent are looking to maintain their headcount. The optimistic sentiments observed around hiring activity for the first half of 2023 mean that Indian employees are expected to receive considerable increments, with over a third of the total recruiters surveyed predicting an average increment of over 20 percent.
The survey also revealed that despite the current uncertainties around hiring trends at a global level, sentiments surrounding campus hiring in India remain optimistic.
Overall, the survey suggests that while the job market in India is expected to face some challenges, recruiters are hopeful about hiring activity and anticipate growth in the first half of 2023.
(Edited by : Soham Shetty)
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