Online recruitment in India faces decline and uncertainty
According to the latest findings from foundit Insights Tracker, online recruitment in India experienced a 6% decrease in hiring activity during April 2023 compared to the same period in 2022.
The Tracker’s analysis highlighted the volatile nature of India’s job market, attributed to economic uncertainty and the ongoing appraisal season when companies conduct performance evaluations. In April 2023, the Tracker index declined from 295 to 276, indicating a month-on-month drop of 4%.
The report further indicated that e-recruitment is currently facing a delicate situation. Among the 27 industries monitored by the Tracker, six witnessed improvements in online hiring over the year. Notably, the Retail industry saw the highest growth rate at 22%, closely followed by the Tourism sector at 19%. Conversely, the IT-Hardware and Software industry experienced a decline of 22% compared to the previous year.
In terms of job functions, out of the 12 functions monitored, only one function observed growth over the year. The Sales and BD (business development) function reported a 2% increase, while the HR and Admin function remained stagnant with 0% growth. The Customer Service function encountered the most significant decline at 28%.
Among the 13 cities monitored, online recruitment surpassed the levels of the previous year in only two cities. Ahmedabad reported a modest increase of 3% compared to the same period last year.
Meanwhile, start-up jobs displayed a notable growth rate of 19% when compared to the previous year.
Considering the experience level of jobseekers, entry-level positions with 0-3 years of experience witnessed a 9% decrease in demand. Intermediate roles with 4-6 years of experience experienced a decline of 20% in hiring. Mid-senior level positions with 7-10 years of experience reached an all-time low in hiring, recording a decrease of 25%. Senior level roles requiring 11-15 years of experience had a more moderate decline of 15%. Leadership roles with 16+ years of experience saw the most significant drop of 34% compared to the previous year.