Around 47% Of Indian Employees Don't Plan For a Job Switch In 2023: Indeed Report 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)
By Teena Jose •
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The latest findings from the quarterly hiring tracker released by the 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). The report is based on a survey conducted by Valuvox among 1,157 employers and 1,583 jobseekers during the January-February 2023, across sectors.
"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," said Sashi Kumar, head of sales, Indeed India.
Moreover, the report finds that 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. Also, 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.
In addition, 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.
