With the job market changing rapidly, recruiters are finding that attraction and retention of talent is becoming their biggest challenge. About 48 per cent recruiters expect to see a strong talent crunch till June 2022. They also feel that most of the scarcity will be witnessed amongst employees with three to five years of experience. Most recruiters (54 per cent) feel that the talent crunch will be maximum in the information technology (IT) sector, as per the Naukri Hiring Outlook Survey 2022.
Availability of talent: As per the survey report, while 56 per cent recruiters expect maximum talent crunch in the three to five years’ experience category, about 39 per cent feel that it will be amongst employees with one to three years of experience. Thirty-eight per cent recruiters feel talent crunch will be strongest in those with experience range of five to eight years. About 18 per cent feel that those with experience of eight to 12 years will be scarce and 17 per cent feel that there will be crunch in the less than a year’s experience. Only nine per cent recruiters feel that those with over 12 years’ experience will be difficult to find.
Hiring intent: The report indicates a strong hiring sentiment amongst recruiters in the first half of 2022. A significant 57 per cent of recruiters intend to go in for new and replacement hires till June 2022. In comparison, last year, the figure was only 51 per cent for the first half of 2021.
What is rather encouraging is the fact that a good 62 per cent of the recruiters expect that the hiring will return to pre-COVID levels in their organisations by June 2022.
Demand for talent: In the coming months, 59 per cent of the hiring is expected to happen in the IT space, followed by 43 per cent in business development, and 36 per cent in marketing.
In terms of experience, recruiters expect maximum hiring (67 per cent) to happen in the category of those with three to five years of experience. Next in demand will be those with one to three years of experience (53 per cent), and those with experience of five to eight years (53 per cent).
More recruiters plan to give out increments greater than 30 per cent, as compared to last year. In fact, the number of those planning to give out hikes has grown by 60 per cent compared to 2021. It is also heartening to note that the number of recruiters expecting increments to be less than 10 per cent has come down to 33 per cent from 37 per cent.