Even as most analysts are saying the worst of the economic downturn is over, a survey by the PHD Chamber of Commerce reveals only 30 per cent of the respondents plan to increase their hiring activity.
The survey had 186 responses from various companies.
The positive feature from the survey is that the demand for both mid and entry-level recruitments has risen, as compared to the situation six months earlier, indicating that companies across various segments plan to expand operations in the near future.
Respondents were optimistic that the global economy will gather steam in the coming months, leading to an increase in orders from the US and the EU and so, more job opportunities.
The reasons for low or no hiring by 70 per cent of the respondents are varied.
Some said they did not lay off many people during the downturn and hence they were not contemplating hiring in large numbers.
More From This Section
Another reason cited was a wait for the economy to return to a high-growth trajectory experienced during the pre-downturn period.
“There is a need for effective skill development measures on a priority basis to equip the workforce with the requisite expertise which is in tune with industry requirements.
“There is also need to undertake reforms in the education sector to ensure that workers are provided appropriate skill sets,” said Satish Bagrodia, president of the chamber.