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Decrease in Layoffs, up to 20% Increment for Indian Employees in 2023: Survey

IT roles and senior professionals are expected to be the most affected by hiring corrections while fresher positions are expected to be least affected

Decrease in Layoffs, up to 20% Increment for Indian Employees in 2023: Survey

Outlook Start-Up Desk

POSTED ON February 16, 2023 5:59 PM

The number of layoffs is expected to decrease in the first half of 2023, according to a recent survey by Naukri.com. However, IT roles and senior professionals are expected to be the most affected by hiring corrections. While fresher positions are expected to be least affected, there may be some impact on roles in business development, marketing, human resources, and operations.

Of the 1,400 recruiters and consultants surveyed across ten sectors, 4 per cent predicted layoffs and downsizing would be dominant in their organisations. The survey revealed that around half of the recruiters expect high attrition rates of over 15 per cent in the first half of the year, with information technology roles topping the chart. 

However, 92 per cent of the recruiters expressed optimism about hiring in the first half of 2023. Nearly half of those surveyed expect new and replacement hiring, 29 per cent expect only new job creation, and 17 per cent are looking to maintain their headcount.

The survey also suggests that Indian employees are expected to receive significant increments, with more than a third of the total recruiters surveyed predicting an average increment of over 20 per cent. The positive sentiment around hiring activity for the first half of 2023 is expected to translate into higher salaries for Indian employees.

The survey also highlights that sentiments surrounding campus hiring in India are optimistic, which is good news for recent graduates who are looking for job opportunities.

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