Not the time for job hopping, most Indians plan to stay put this year: Indeed

• Reversing the job-hopping trend, 47% of employees said in a survey that they don't plan to switch jobs in 2023.
  
• Over 37% of all job seekers are looking to prioritise career growth in 2023, said a survey by Indeed.
  
• Only 53% of employers surveyed said that they hired in the January-March quarter as compared to 64% in the quarter before.
  

The era of the Great Resignation seems to be coming to an end, especially in India. According to a recent survey by job portal Indeed, almost half or 47% of employees say that they don't plan to switch jobs in 2023.

“Employees are bucking the trend by choosing to stay put in their current organisations, with over 37% of all job seekers looking to prioritise their career growth in 2023,” the survey which was released on Monday, said.

This could be a direct effect of the fact that hiring sentiment has dropped significantly in the last three months. Only 53% of employers said that they hired people in the January-March quarter compared with 64% in the October-December quarter.

“Amidst the ongoing uncertainties, the overall sentiment of jobseekers and employers seems to be cautious,” said Sashi Kumar, head of sales at Indeed India.

Banking and financial services hire the most

Even in times of slim hiring, the banking and financial services and insurance (BFSI) sector witnessed the most significant hiring – 71% of the sector’s employers hired during the January-March quarter.

The other two sectors that saw the most hiring are healthcare (64%), and construction & real estate (57%). Apart from slow hiring in the IT and IT-enabled services sector – where only 29% of employers hired, hiring in manufacturing was also low at 39%.

“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 Kumar.

The findings further suggest that there was a substantial increase in the proportion of employers hiring for mid-level – hitting 27% during the quarter, up from 23% last quarter. Senior-level roles too went up to 12% as compared to 9% last quarter.

The proportion of job seekers entering the job market for the first time has also risen to 23% from 16% in the previous quarter.

Wanted: Retail sales associates

The job that was most in demand in the January to March quarter was that of retail sales associate, as per 41% of all employers. This was followed by the role of project engineer, which was preferred by 23%, and marketing analysts, sought by 20% of employers.

“In terms of the most-hired skills in the current quarter, tech skills such as SQL, NoSQL & MongoDB, APIs, CCNA, CCNP, Zigbee, WiSUN, and Z-Wave are the top skills being sought after by employers. Communication, critical thinking, problem-solving and decision-making are the top three soft skills that employers are looking for,” the report said.

The quarter saw most of its hiring in the functional areas of production/manufacturing (31%) followed by sales at 29%, and marketing at 27%.

Employees who seem to have shed their pandemic love for working from home, also want to head back to offices. The Indeed survey said that 57% of job seekers now want to work out of the office.

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