Naukri Job Speak Index Sees a Seasonal Decline in Hiring Activity in October’14 Over September’14

· Festivals dampen the hiring activity in October’14

· Insurance and Pharma sector saw maximum decline in hiring activity in October’14

The Naukri Job Speak Index for the month of October 2014 was at 1518 indicating an 18% decline in hiring activity when compared to September 2014. Industry wise hiring sentiment was lacklustre with all key sectors experiencing a decline in hiring activity. Sectors such as Insurance and Pharma saw maximum decline of 23% and 22% respectively in October’14 as compared to September’14. Among the top metros, Delhi NCR and Mumbai saw the maximum dip in hiring with the index moving down by 24% and 20%respectively in the same period.

Hitesh Oberoi, Managing Director and CEO, Info edge (India) said, “The festivities of October has taken a toll with the Naukri Job Speak Index reflecting a dip in the number. It is in sync with the past trend of decline in hiring in festival season.  We are optimistic that hiring activity will resume with full momentum across all sectors in the coming months.”

Industry Sector Analysis:

The overall decline in hiring due to festivities got reflected in hiring activity across sectors. Apart from Insurance and Pharma, sectors like IT and BPO have seen a month on month decline of 16% and 17% respectively while Banking and Auto sector have also moved downwards with the index waning by 21% and 17% in October’14. Other sectors like Telecom and Construction & Engineering have declined by 20% and 19% respectively in this same time period.

City Wise Analysis:

All major cities saw a lull in hiring activity owing to festivals and long weekends in October. Delhi NCR and Mumbai saw the maximum dip followed by Kolkata and Pune which have witnessed a dip of 17% and 16% respectively in the same time period.

Chennai and Bangalore have seen a decline in hiring with the index moving down by 14% each while Hyderabad declined by 10% in October’14 over September’14.

Functional Area Analysis:

As Insurance and Pharma sectors saw the maximum decline in the Naukri Job Speak Index in October, the demand for professionals working in Banking & Insurance and Production Maintenance also saw the maximum dip with the index moving down by 29% and 28% respectively in October’14 over September’14. Professionals employed in Marketing & Advertising and Sales & Business Development also witnessed a month on month decline in hiring (as represented by the Naukri Job Speak Index) of about 21% in October’14. Professionals employed in HR administration and Accounts Finance saw a southward movement of 19% each and BPO saw a dip of 22% in this time period

About Naukri.com:

Naukri.com, India’s No. 1 job site and the flagship brand of Info Edge introduced the concept of e-recruitment in India. Since its inception in 1997, Naukri.com has seen continuous decline while outperforming its competitors in every sphere. Info Edge was the first internet Company to be listed in India. The site enjoys a traffic share of 69% as per Comscore. Naukri.com is a recruitment platform that provides hiring-related services to corporates/ recruiters, placement agencies and to job seekers in India and overseas. It offers multiple products like Resume Database Access, listings and Response Management Tools. With more than 1,25,000 jobs live at any point and over 38 million CV’s, Naukri.com serviced over 48000 corporate clients in 2013-2014. The company employs over 3100 people operating through 56 offices in 42 cities in India and overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain.

For more details please contact

Sumeet Singh

Sumeet.singh@naukri.com

Srishtee Sharma

+91-9582424366

Srishtee.sharma@ketchumsampark.com