LPU records quantum jump in placements
While 2009 was the year of pink slips and lay offs, 2010 seems to be the year of the employee. The New Year is surely ringing in some good news for employees. In a major relief to employment seekers, blue chip companies, which for the most part had put on hold all recruitments in the wake of economic crisis, have started hiring again and are concentrating on satellite cities.
The recruitment engine is revving up again and as the Indian economy tries to attain double digit GDP in the foreseeable future hires are likely to increase manifold. The Global Manpower Employment Outlook for Q1 2010 survey released last month indicates that the net employment outlook is a robust 36%, which is 18% stronger than the last year. A sectoral analysis shows that hiring outlook has risen across all sectors. Job seekers in the services, public administration, education, mining and construction, finance, insurance, real estate, and the wholesale and retail trade sectors, could look forward to the most favorable hiring environment in early 2010, the survey said.
Another interesting trend is that the hirers are showing increasing interest towards the smaller cities, while the Tier I cities are seeing a decline. A survey by Assocham, indicates that Tier II cities like Surat, Ahmedabad and Chandigarh are driving the growth, while Tier I cities had witnessed a decline in employment opportunities. The survey also points out that the Tier-II cities have surpassed the metros in terms of growth in white-collar job creation. https://bsmedia.business-standard.comwww.assocham.org/arb/app/APP_Placement_Study_Nov2009.pdf.
The employment opportunities in the private sector firms have also grown by close to 30 per cent in the second-rung cities during the first seven months of the current fiscal, while in top metros, it improved by about six per cent, which shows the availability of greener pastures for students in locations near their homes. The positive hiring outlook of employers is not unfounded, the quarter-on-quarter growth that India Inc. has witnessed both in terms of revenues and profits, and the continuation of government stability and policies have brought a more optimistic business forecast for organizations. Government stimulus efforts around infrastructure projects are contributing to accelerated hiring plans in India's mining and construction sector. Wholesale and retail trade along with finance, insurance and real estate sectors are among the most optimistic when it comes to hiring intentions.
Big names like Infosys, Bharti Airtel, Bharti Retail, Sharekhan, Nokia Siemens, Smart Chip-Online, Indian Army, Dell, Heromindmine, Keane, Spice, TATA, HCL, Eli Lilly, Omega Maritime Management Services Pvt. Ltd, Wipro, Wills Style Group, NIIT, Bharti Maxtel, Yo China among others have also started fulfilling their employee needs through the smaller cities. Recruiters from finance and banking sectors have outnumbered recruiters from IT, Engineering or marketing companies.
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Dr. K K Garg, Training and Placement Officer, PEC, the MNCs are shifting to Tier II cities as the students from bigger colleges are less stable compared to students from colleges in Tier I cities. Concurs Mr Sanjay Kaushik, Placement Officer, UBS. “The students from Tier II cities are getting salary at par with those in Tier I. MNCs are looking for role specific employees. UBS and many colleges in Tier II cities have various subject specific courses to the liking of the MNCs.
Experts in the field of education expect overseas jobs to come up again with newer markets such as Europe and Asia Pacific providing a welcome mat in the next few years. Citing the university’s example, Mr. Ashok Mittal, Chancellor Lovely Professional University, states that the New Year is ushering in recovery in job market and a wave of general optimism across segments. The varsity witnessed a quantum jump in placements with almost 600 placement offer already made till January to the students compared to 360 last year and the complete 4 placement month are yet to be counted. Last year by a total of 1,115 placements in the blue chip companies across all academic programs in 2008-2009 were made compared to 358 in the Blue Chip companies a year-ago, a three-fold jump and forcasting on the present scenario, Mr. Ashok Mittal stipulated almost double the placement by the end of the academic session.
Says Mr Mittal, “The economic scenario is improving as economic growth rate and the hiring spree by the corporate bears the testimony to this. Last year was tough and therefore students had to bear the brunt. Normalcy is returning. In addition to domestic hiring , India is going to emerge as a huge sourcing ground for global jobs across segments, positions and profiles.”
Says Mr. H R Singla, Director General, Lovely Professional University. The number of MBA graduates who secured placements in 2008-2009 had jumped to 529 compared to 147 in the year-ago, a robust growth of 200 per cent and this year all the financial company are very active and as 48 MBAs have already been selected for this year thus Maagement graduated definitely have reason to cheer.
On the salary front, the university stated that most of the graduates have been placed with roles and remuneration matching the individuals’ aspirations with the highest pay promised after training was around 30 lakh by Omega Maritime Management Services Pvt. Ltd which selected Engineers and Officers for Maritime Industry.