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India – Recruitment up year-on-year in May but downward trend noted

12 June 2014

Recruitment trends remained muted across India during May 2014, compared with April, with the exception of IT and IT-enabled-Services (ITeS), which reported double-digit recruitment growth, according to a report by job board Naukri.com, reports zeenews.india.com.

On a year-on-year basis, recruitment activity across India during May rose by +14%.

According to the report, the Naukri Job Speak Index stood at 1,600 for May 2014, stable compared to the previous month. The Naukri Index was launched in July 2008 with a base index of 1,000.

Hitesh Oberoi, Managing Director and CEO of Info Edge (India) commented: "Hiring activity is seeing a period of stability. Since the elections are now over and we have a stable government at the centre, we expect companies to start recruiting in the coming months."

Hiring sentiment was muted across all the major sectors, with the exception of ITeS and IT, which saw +15% and +10% growth, respectively, in hiring last month over April. Oil & Gas also saw an increase in hiring by +3%, month-on-month.

According to the report, the insurance sector witnessed the greatest decline with the index moving down by -30% in May against April. It was followed by the pharmaceutical and telecom sector which saw a drop of -8% each for the period under review.

Other sectors like BFSI (Banking, Financial Services, & Insurance) reported a decline of -5%, while construction & engineering and automotive fell by -3% in the same period.

Geographically, Chennai and Hyderabad saw the highest and second highest growth in the Naukri Job Speak Index in May against April. Bangalore reported growth of +5%, followed by +2% in Mumbai.

Northern and Eastern regions reported a dip in recruitment with Delhi-NCR (national capital region) and Kolkata seeing a decline of -21% and -19%, respectively.

The report stated that demand for professionals working in BPO (business process outsourcing) and IT saw the greatest growth of +11% and +10%, respectively, month-on-month.

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