👍Layoff phase to fizzle soon | The Financial Express

Clipped from: https://www.financialexpress.com/jobs/layoff-phase-to-fizzle-soon/2983954/

92% recruiters express optimism about hiring in the first half of 2023: Naukri

Layoff phase to fizzle soonAccording to Naukri.com Hiring Outlook survey, nearly half of those polled expect new and replacement hiring, 29% expect only new job creation, and 17% expect to maintain their headcount. (File/Pixabay)

Despite uncertainties in the global job market, 92% of recruiters in India are optimistic about hiring in the first half of 2023. The first half of this year will likely see fewer layoffs than the second, although senior workers in information technology will be most affected, according to a survey released on Thursday.

According to a survey of 1,400 recruiters and consultants conducted by job portal Naukri.com, only 4% of respondents predicted that their organisations will undertake layoffs and downsizing going ahead.

Further, roughly half of the recruiters anticipate high attrition rates of more than 15% during the first half of the year, with information technology roles topping the list, the survey added.

“Recruiters foresee maximum layoffs for senior professionals, with 20% of recruiters predicting the same. Freshers are expected to be least impacted by hiring corrections,” the bi-annual survey by Naukri.com said.

According to Naukri.com Hiring Outlook survey, nearly half of those polled expect new and replacement hiring, 29% expect only new job creation, and 17% expect to maintain their headcount.

With positive sentiments surrounding hiring activity in the first half of 2023, Indian employees are expected to receive significant increments, with more than a third of total recruiters polled predicting an average raise of more than 20%, according to the report.

However, the survey of recruiters across 10 sectors said that information technology roles will be witnessing the maximum impact of hiring corrections, while there will also be some impact in roles in the business development, marketing, human resources and operations fronts as well.

The survey was conducted amongst recruiters and recruitment consultants to gauge forward-looking hiring trends across companies and industries. It covers recruiters’ predictions related to job opportunities, increments and other areas for the following six months.

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