New findings from Indeed’s October’22 - December’22 quarterly hiring tracker shares insights on the jobs landscape in 2022 and the expectations of jobseekers and employers for 2023.
What does 2023 hold for jobseekers?
Indeed’s data shows that more than half of all the employees (57%) are unenthusiastic or bored about their current jobs with over 50% of employees preparing for new opportunities by reskilling/upskilling. 28% of those who are looking for jobs have said that they will prioritize happiness and flexibility and 19% have indicated that a good work life balance is a priority.
An overwhelming proportion of jobseekers (65%) believe that the ongoing layoffs may hinder their willingness to go the extra mile in their jobs. Given the market uncertainties and economic climate, jobseekers are hesitant in their current work, demotivated by layoffs and are not willing to fully commit to their current job as well.
Sashi Kumar, Head of Sales, Indeed India said, “2022 has been characterized by various shifts in the workplace - from trends like quiet quitting to moonlighting gaining prominence. Going into 2023, it is evident that employees are prioritizing mental wellbeing and work life balance amidst the various fluctuations that are occurring in the world of work. As organizations wait to see how global movements affect the Indian jobs landscape, it’ll be integral for them to also relook at workplace culture and the current sentiment at work, in order to retain talent.”
Hiring sentiment for 2023
Employers are optimistic about their hiring activity during 2023 – with 45% of employers surveyed foreseeing upto a 20% increase in hiring. Employers feel that inflation (18% of employers) and ongoing layoffs (15% of employers) are things to be on the lookout for in 2023 respectively.
In the coming year, employers will also be keen to step up their hiring practices. 35% of employers look forward to adopting AI/digital/social media for talent acquisition and 26% plan to explore hyper-local/niche job boards.
45% of employers surveyed reported to have hired cautiously during 2022 with the year also ending with slower hiring in the last quarter. About two out of every three employers (64% of those surveyed) hired between October to December. This marks a significant dip (down from 78%) and reflects a slower pace of hiring activity compared to the previous two quarters, likely caused by global economic shifts.
This year also saw a renewed vigor on hiring for technology skills. In terms of non-technical skills, communication skills (31%), creativity (19%), and complex problem solving (12%) were at the top during the same time period.
Top Roles Hired in Oct-Dec 2022
% of employers hiring
This survey was conducted by Valuvox on behalf of Indeed amongst 1,227 employers and 1,490 jobseekers and employees during the months of October to December, 2022. The survey respondents were segregated into cities, and further categorized into large, medium, and small organizations, and then into sectors.