Kolkata has shown an increase of four points in the Employment Outlook Growth at 34 points in the July-September quarter of 2009, the least among other cities, according to the latest Employment Outlook Report from TeamLease Services Private Limited, one of the largest staffing companies in India.
The scenario was in stark contrast to the previous quarter when the city showed an increase of 13 points to 30 index points in the employment outlook growth, which was the highest compared to other cities.
Net Business Outlook for the current quarter increased by 43 points, when compared to the previous quarter. The highest increase in employment growth was seen from the financial services sector, followed by infrastructure. However, the net business outlook in the previous quarter showed an increase of three points.
In keeping with the low employment outlook growth, the attrition rate at six per cent in the last one year was the lease when compared to other cities.
TeamLease releases the report every quarter after a survey administered to the HR heads, CEOs and senior management of leading companies in India.
The study, which covered 495 companies in the latest round, focused on the employment growth potential, the business outlook and hiring forecasts with the relation to the location and the company profile.
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Among cities, there was an increase in the employment outlook index points of all cities. The index points of Chennai increased the most (by 37 points) followed by Delhi and Pune (by 33 points) and Hyderabad (by 28 points). The index points of most sectors were on the rise except for ITES. The financial services sector increased the most, by 47 points. In business outlook, Pune scored the highest by showing an increase of 47 points.
The survey observed that there was a decrease in the intention to hire at all managerial levels, except senior levels. Also there was a steady increase in the intention to hire across most functions except marketing.
According to Surabhi Mathur-Gandhi, general manager, TeamLease Services, “With the stabilisation of economies and optimism in global expansion, there is a direct positive implication for the Indian employment situation. We are observing a slow and steady upsurge in hiring intent across sectors. The advent of new players and aggressive expansion of large telecom giants has seen a bullish outlook for the industry with the promise of exponential growth.”