The latest findings from the quarterly hiring tracker released by Indeed have revealed that 47 per cent of Indian job seekers are not looking to switch jobs in 2023. The report has stated that the majority of the employees are choosing to stay in their current organisations and more than 37 per cent of all job seekers are looking to prioritise their career growth in 2023. 

The survey has also highlighted a considerable dip in hiring and suggests that only 53 per cent of the employers had hired in this quarter, down from 64 per cent in the previous quarter (October to December 2022). The BFSI sector witnessed the most significant hiring with 71 per cent of the sector’s employers hiring during the quarter. Healthcare (64 per cent) and Construction and Real Estate (57 per cent) were the other two sectors that employed substantially. In contrast, Media and Entertainment (49 per cent), IT/ITeS (29 per cent), and Manufacturing (39 per cent) sectors saw the least hiring during the quarter.

Sashi Kumar, Head of Sales, Indeed India, said, “Amidst the ongoing uncertainties, the overall sentiment of job seekers 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 findings have stated a substantial increase in the proportion of employers hiring for mid-level (27 per cent, up from 23 per cent last quarter) and senior-level roles (12 per cent, up from nine per cent last quarter). The proportion of job seekers entering the job market for the first time has also risen to 23 per cent  from 16 per cent in the previous quarter.

The survey has claimed that working from the office has emerged as the favored work mode for current jobseekers, with 57 per cent preferring to work from the office. Similarly, most employees are undertaking upskilling programs, professional developmental tools, and mentorship programs. About 47 per cent of all employers are providing upskilling programs to their employees.