Hiring survey: Only 15 pct of corporates and IT orgs are prioritising freshers

Genius Consultants Limited the Andheribased recruitment and staffing agency has conducted an extensive lsquoHiring Compensation and Attrition Management Surveyrsquo to anticipate trends in the Indian job market for the fiscal year 202425 The survey offers a detailed forecast highlighting key areas of focus and strategic adjustments expected in the coming yearHiring trendsThe survey reveals a notable shift towards new position hiring which will constitute 27 percent of recruitment activities compared to 23 percent for replacement hiring This emphasis on new roles underscores the industrys drive to meet evolving market demands and inject fresh talentThe focus on hiring employees with 4 to 8 years of experience is pronounced with 32 percent of hiring dedicated to this group In contrast only 15 percent of major corporates and leading IT organisations are prioritising freshers indicating a potential setback for entrylevel professionals despite ongoing efforts to nurture young talentEmployment flexibilityDiverse employment types are set to play a significant role in FY 202425 Noncontractual temporary roles are expected to account for 27 percent of hiring fixedterm contracts for 25 percent gigstaffing for 24 percent and permanent positions for 24 percent This distribution highlights a strategic move towards flexible staffing to address both shortterm project needs and longterm organisational goals The markets growing preference for flexi and contractual staffing observed in FY 202324 continues into the new fiscal yearDiversity and inclusion initiativesDiversity and inclusion remain critical focus areas The survey predicts a recruitment ratio of 60 percent male and 40 percent female candidates with an additional 29 percent of organisations aiming for equal gender representation Furthermore 53 percent of organisations are incorporating nonbinary candidates albeit in small percentages 00 percent 04 percent reflecting the ongoing positive impact of diversity equity and inclusion DEI initiativesRegional hiring trendsRegionally the East zone of India is expected to lead in hiring with a 34 percent share followed by the West and South zones at 25 percent and 21 percent respectively This regional diversity underscores the opportunity to tap into varied talent pools across the country enabling organisations to leverage regional strengths and capabilitiesManpower strength and salary incrementsThe survey indicates that 36 percent of organisations do not plan to increase their current manpower while 25 percent project a 1015 percent growth in their workforce This retentionfocused approach aligns with the anticipated salary increments About 29 percent of organisations plan to offer 57 percent increments while 20 percent foresee 7 10 percent increments primarily for midsenior and seniorlevel employees Conversely 22 percent of organisations are expected to provide less than 5 percent increments highlighting the economic challenges expected in the coming yearAttrition trendsAttrition remains a significant concern with 39 percent of organisations expecting a 510 percent attrition rate and 20 percent anticipating a 1020 percent rate Factors such as workfromhome facilities AI technology integration and the desire for worklife balance are driving this attrition Midsenior level employees are particularly susceptible prompting organisations to consider higher increments to mitigate turnover Regionally the North zone is predicted to experience the highest attrition 36 percent followed by the West and East zones 22 percent eachRecruitment channels and industry focusTo meet hiring needs companies are increasingly turning to consultants and workforce solution providers 16 percent and AIbased apps and websites 14 percent The focus on technology underscores its growing importance in the workforce industry The highest recruitment drives are expected in IT engineering electrical and automation engineering and civil engineering fields with 18 percent and 13 percent respectively emphasising the industrys shift towards technical and IT rolesR P Yadav CMD of Genius Consultants Limited highlighted the industrys strong focus on new position hiring which is crucial for market demand and innovation The rise in flexible and temporary staffing allows organisations to adapt quickly to market changes and projectspecific needs reflecting a commitment to proactive expansion and job creation rather than merely addressing attrition