India to see highest rise in employment in 2016: Survey
Buoyed by positive economic sentiment, employment scenario in India is set to move up and the country is expected to see the highest rise in hiring process this year among Asia/Australia region, a survey says.
New Delhi: Buoyed by positive economic sentiment, employment scenario in India is set to move up and the country is expected to see the highest rise in hiring process this year among Asia/Australia region, a survey says.
According to the ninth annual Global Business and Spending Monitor survey conducted by American Express in partnership with CFO Research, 83 percent of Indian executives expect their companies to hire more and 52 percent respondents expect employment to grow by over 10 percent.
"Sustained high level of optimism towards growth will see India as a bright spot for hiring as companies get ready to add to the government's initiative towards improving job-oriented skills in the country," American Express Global Corporate Payments Country Business Head Saru Kaushal said.
The survey based on sampling of senior finance and corporate executives from large companies around the world said that globally financial executives expect their companies' headcount to increase by 9 percent on an average in 2016, largely owing to decent rise in recruitments by companies in the US, Mexico, and India (13 percent each).
However, talent crunch is expected to affect the recruitment drive of Indian companies going forward.
"7 out of 10 Indian executives polled that their companies' performance goal has been impeded by inability to hire requisite positions in sales and marketing," the report said, adding that 60 percent of respondents say their companies have been affected by difficulty in hiring more skilled and specialised workers.
Moreover, half of the respondents find it difficult to fill positions for IT staff, administration and support staff and offshore or outsourced positions.
The survey further noted that around 60 percent of Indian executives expect to raise wages or salaries in order to attract or retain employees, while 53 percent would be looking at improving the working environment and rotate key employees through different functions or departments in order to retain them.
"From improving working environment to rotating employees through various departments, companies are planning to introduce measures in this direction and trying to keep their attrition rates at the lowest levels," Kaushal added.