In a gloomy outlook for hiring and increment especially for people with 1-3 years of experience amid talent crunch in the first half of the year, a survey by job portal Naukri.com says that highest attrition is expected in the 1-3 years’ experience band — at a massive 46 per cent.
According to Naukri.com’s ‘Hiring Outlook 2020,’ 32 per cent companies indicated an increment between a mere 5-10 per cent and seven per cent recruiters even suggested an increment of under 5 per cent in their companies.
“Nearly 28 per cent companies will stick to an average increment of 15 per cent to 30 per cent,” the findings showed.
“Talent crunch stays an issue that trumps most recruiters. Forty per cent of recruiters expect talent crunch to stay high, while 33 per cent expect it to stay the same,” added the bi-annual survey that saw participation from over 2,400 recruiters spanning across 15 major industries across the country.
“This is highest at the bands of 3-5 years experience at 47 per cent, followed by 39 per cent in the 1-3 years band and 32 per cent in the 5-8 years experience band”.
On the recruitment front for the January-June 2020 period, nearly one in two recruiters in India anticipate new jobs as well as replacement hiring to happen in the first half of the year while 26 per cent predict only new jobs to get added.
While 13 per cent recruiters expect to do replacement hiring only, 3 per cent indicated a scenario of no hiring at all while only 1 per cent of the total recruiters anticipated layoffs, said the bi-annual survey.
“Analytics emerges as one of the functional areas where 14 per cent recruiters indicate hiring, apart from popular roles in IT, Sales & Marketing and Operations,” said Pawan Goyal, Chief Business Officer, Naukri.com.
Most of the hiring will be under 5 years of experience, 62 per cent of recruiters will be hiring in the band of 3-5 years while 51 per cent in the 1-3 years band.
While 30 per cent of recruiters indicated that hiring will happen for the experience band of 8-12 years, 18 per cent of recruiters will be hiring for experience levels over 12 years, the findings showed.
Over 48 per cent recruiters expect hiring to happen for roles in sales and marketing.
One out of every five recruiters will hire in accounts and finance and similarly for HR and administration.
In IT roles, 46 per cent of recruiters feel that hiring will open up in IT-software development while around 10 per cent for IT-Hardware.
Nearly 40 per cent of recruiters expect attrition to stay over 10 per cent, while 26 per cent recruiters indicate that it should stay under 5 per cent, said the survey.