A June’23 report by AON gives out some interesting trends which every humanresources professional must know:
– Attrition and offer-decline rates are lower compared to last year across digital & non-digital roles.
– With recent rounds of layoffs, employees are looking for long term stability over short term monetary benefits.
– Hyderabad and Chennai are emerging as locations with highest ease of hiring, since Mumbai, Bangalore & Delhi are getting saturated from a supply stand-point.
– Tier 2 cities are emerging as preferred destinations for hiring of non-tech talent.
– A large number of organizations are indicating a conservative approach to hiring this year.
– Overall voluntary attrition is around 17% (was 22% last year).
– Out of cycle corrections, offering retention bonus & providing accelerated career growth opportunities continue to be popular measures to reduce attrition.
– Offer Decline Ratio stands at 24% (used to be 31% last year).
– 22% is the average increment being given to new hires (was around 43% last year).