Hiring trends most positive in the insurance & BFSI space: Report

As per the growth trends for October 2022 compared to October 2021, the hiring growth trends have been negative for the retail, IT software/ software services and telecom/ISP sectors

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The hiring trends have been positive across many industries in October 2022, compared to October 2021.

There has been 93 per cent growth in hiring trend in the insurance space, as per the Naukri Jobspeak Index. The BFSI space also showed 40 per cent growth in hiring trends. Oil & gas/power reflected 34 per cent growth, while there was only 24 per cent growth in hiring in the travel and hospitality sector.

While hiring was slow overall, about 20 per cent growth was seen in the real-estate/property space, while the growth was 19 per cent in the auto/auto ancillary sector. The FMCG space grew by seven per cent.

In the retail space, however, hiring went down by one per cent. For IT-software/software services, the growth was -18 per cent. Telecom/ISP also showed negative growth of -19 per cent.

There was negative growth in Delhi/NCR, Chennai, Pune, Hyderabad and Bengaluru, with -1 per cent, -5, -11, -12 and -16 per cent respectively. Kolkata and Mumbai, on the other hand, were the metro cities that showed positive growth trend of +15 and +8 per cent, respectively.

Growth trends in the emerging cities were as follows: + 8, +8, +5, +4 and +3 per cent each for Ahmedabad, Jaipur, Kochi, Vadodara and Coimbatore, respectively. For Chandigarh, however, it was -23 per cent.

In terms of experience levels, positive growth trends were seen only in case of people with more than 12 years of experience. It was +5 per cent for those with 13 to 16 years of experience and +6 per cent for those with over 16 years of experience.

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