Even as media is rife with reports of an economic upturn, the outlook for employment doesn’t seem to reflect the same enthusiasm. The recovery, if any, seems to be happening in fits and starts. The situation is reflected in the Employment Outlook Index for quarter — XII (October-December 2009) which stands at 46 index points, the same as previous quarter.
A major development in hiring is that hiring standards have gone up significantly.
Among the sectors covered, there has been an increase in index points of all sectors except retail, media and FMCG; infrastructure; manufacturing and engineering, and telecom. financial services (with 64 points) had the highest index points followed by healthcare (with 61 points).
TeamLease Services, a large staffing company, today released its Employment Outlook Report for October - December 2009. The Employment Outlook Report is released every quarter after a survey administered to HR heads, CEOs and senior management of companies in India. The study covered 495 companies and focused on employment growth potential, the business outlook and hiring forecasts in relation to the location and the company profile.
According to a spokesperson at TeamLease, “The employment outlook for the present quarter maintains its cautious optimism. We expect to see some additional increase in hiring around Q4 (January - March 2010). The industry is upbeat about the business and this will translate into improved hiring in the next six months. Senior level positions are opening up and gradually, we will see opening up of mid and entry level positions as well.”
“Perspective hiring within the financial services segment reflect this quarter’s projections as magnanimous. Healthcare is one of the least-affected sectors in the recent downturn and it is also recruiting,” the spokesperson added.
The survey also says that during the past three months as well as the last one year, Bangalore, Hyderabad and Chennai had the highest attrition rates compared to other cities.
