The organised sector in India to create about 1.6 million new jobs in 2011. Healthcare sector, followed by manufacturing - non-machinery products hospitality, real estate and others are likely generate more jobs, according to Ma Foi Randstad EmploymentTrends Survey (MEtS), a study on the Indian employment trends and opportunities. The HR firm also stated that this year the wage bill is likely to less due to margin pressure.
The survey was conducted across 650 companies from 13 sectors in eight major cities and indicates that most employers are optimistic about their hiring plans for the present year.
In early 2010, MEtS predicted the creation of 1 million jobs for the year And 1,131,643 jobs were created during the year, with healthcare (254,655), hospitality (160,300) and real estate (129,312) sectors leading the pack.
The three metros - Mumbai, Delhi and NCR, and Chennai took the top three places generating 255,797 jobs.
In 2011, healthcare sector is expected to continue to top the table, generating 248,500 new jobs. In addition to the top performers like manufacturing - non-machinery products sector is expected to perform well, creating 223,400 new jobs, hospitality (218,200), real estate (144,700) and, media and entertainment (126,100), according to the survey.
Mumbai, Delhi NCR and Chennai will retain their top slots generating a total of 273,634 jobs between them.
E Balaji, managing director and CEO, Ma Foi Randstad said, the changing market scenario across the globe and the growing significance of emerging markets like India and China has led to many global corporates including these countries, in their growth and workforce strategies. This will have a positive impact and increase our growth momentum.
While there is positivity in the air among those who participated in the survey, all felt the biggest challenge was that of ‘Employability’ which is threatening growth. “I do hope that steps will be taken in the right direction by both the government and the industry to address this issue quickly and effectively,” added Balaji.
He said, the expected average wage bill will be 10-13 per cent for the year 2011, compared to around 18 per cent in 2010.
“This is due to margin pressure which the corporate houses are likely to face due to increase in wages,” said Balaji.
