The latest findings from the quarterly hiring tracker released by the world’s #1 job site, Indeed, reveals that a majority of Indian jobseekers (47%) are not looking to switch jobs in 2023. In what was considered to be the era of the great resignation, employees are bucking the trend by choosing to stay put in their current organizations, with over 37% of all jobseekers looking to prioritize their career growth in 2023.
The survey further reveals a considerable dip in hiring and suggests that only 53% of the employers surveyed had hired in this quarter, down from 64% in the previous quarter (October to December 2022).
Mr. Sashi Kumar, Head of Sales, Indeed India said, “Amidst the ongoing uncertainties, the overall sentiment of jobseekers and employers seems to be cautious. However, some sectors like BFSI and healthcare are witnessing significant hiring, showcasing a strong future for these areas. Additionally, in 2023, the acceptance of the gig economy at large is also expected to strengthen the job market. Employers now need to focus on devising ways in which they can retain and continue to attract this talent pool.”
The BFSI sector witnessed the most significant hiring with 71% of the sector’s employers hiring during the quarter. Healthcare (64%) and Construction & Real Estate (57%) were the other two sectors that hired substantially. In contrast, Media & Entertainment (49%), IT/ITeS (29%), and Manufacturing (39%) sectors saw the least hiring during the quarter.
The findings further suggest that there was a substantial increase in the proportion of employers hiring for mid-level (27%, up from 23% last quarter) and senior-level roles ((12%, up from 9% last quarter). The proportion of jobseekers entering the job market for the first time has also risen to 23% from 16% in the previous quarter.
Workplace trends in 2023
Interestingly, the survey reveals that working from office has emerged as the favored work mode for current jobseekers, with 57% preferring to work from office. Similarly, most employees are undertaking upskilling programs, professional developmental tools, and mentorship programs. About 47% of all employers are providing upskilling programs to their employees.
Certifications and learning platforms to boost skill sets (67% of jobseekers) is the prime strategy for jobseekers to remain competitive in the year 2023. This is followed by sharpening existing skill sets and performing better in their role (41% of jobseekers).
Top roles, skills and employee job preferences
The most in-demand job role for the current quarter was for Retail Sales Associate (41% of all employers) followed by Project Engineer (23%) and Marketing Analyst (20%). In terms of the most hired skills in the current quarter, tech skills such as SQL, NoSQL & MongoDB, APIs, CCNA, CCNP, Zigbee, WiSUN, and Z-Wave are the top skills being sought after by employers. Communication, critical thinking, problem-solving, and decision making are the top three soft skills that employers are looking for. Most hiring during the quarter was in functional areas of Production/Manufacturing (31%, up from 29% last quarter) followed by Sales (29%, up from 17% last quarter) and Marketing (27%, up from 21% last quarter).
From an employee perspective, following are the functions jobseekers prefer in the quarter of January 2023 – March 2023
| Preferred functions for jobseekers | |
| Function | Percentage of employees |
| IT | 26% |
| Marketing | 18% |
| Sales | 15% |
| Production/Manufacturing | 13% |
| Accounts & Finance | 9% |
Methodology
This survey was conducted by Valuvox on behalf of Indeed amongst 1,157 employers and 1,583 jobseekers and employees during the months of January and February, 2023. The survey respondents were segregated into cities, and further categorized into large, medium, and small organizations, and then into sectors.
