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Only 40 per cent recruiters expect to give increments in the range of 10-15 per cent, said respondents surveyed under the Naukri's Hiring Outlook survey 2015. This is a half-yearly survey which gauges the hiring sentiment of companies and consultants.
More than 1,200 recruiters and consultants participated in the survey. More than two thirds (69 per cent) of recruiters and consultants who participated in the survey had forecast creation of new jobs in the first half of 2015, while this figure was at 64 per cent in the first half of 2014. The IT and Banking, Financial services and Insurance (BFSI) sectors were favourites among the respondents in their prediction regarding which sector was expected to witness maximum job creation. These were followed by manufacturing, pharma and ITES, in that order.
There is an increase in the increments that are expected to be given out in 2015. In January 2014, 36 per cent recruiters had expected to give increments in the range of 10-15 per cent whereas in Jan 2015 this number increased to 40 per cent. Also, 16 per cent of recruiters are expected to hand out a pay hike in the bracket of 15-20 per cent in Jan 2015 as opposed to 14 per cent in Jan 2014.
The rate of attrition has also come down. About 59 per cent of the recruiters said that the rate of attrition in their company was less than 10 per cent in Jan 2015.
On being asked about the attrition rates, the recruiters said that the year 2015 is in tandem with the 2014 figures. 56 per cent of recruiters expect the rate of attrition to be stable in the first half of 2015, 23 per cent articulated that they expect a decrease in the rate of attrition and 21 per cent of them expect the rate to increase in the first half of 2015.
Hitesh Oberoi, Managing Director and CEO Info Edge (India) Ltd said, "As far as job creation and hiring scenario is concerned, 2015 will be a much better year in comparison to 2014 given the increased stability in the political and economic environment of the country. The phenomenon of job creation will be led by the IT sector followed by the services industry and even the manufacturing sector is showing healthy signs."
