Companies bullish on business outlook, cautious on hiring
Mumbai: Companies were bullish on business outlook but still cautions on hiring, a recent report by Teamlease, a leading staffing company, said.
In the Jan-March quarter, the net business outlook index had shown an increase of 41 index points. The index points of most sectors are on the increase except telecom and pharma.
The ITES sector increased the most (by 31 points), the report, which surveyed 501 firms, said.
There is an increase in business outlook index points of all cities except Mumbai, Delhi and Hyderabad. The Business Outlook Index Points of Pune increased the most (by 63points).
Employment Outlook Index for quarter January-March stood at 47 index points, one percent higher than the previous quarter, Among the sectors covered, there is an increase in index points of all sectors except financial services, health care, hospitality and pharma. Infrastructure with 69 points has the highest index points followed by IT with 59 points.
There is an increase in employment outlook index points of all cities except Mumbai, Delhi, Hyderabad and Ahmedabad. The employment outlook index points of Pune increased the most (by 50 points) while it dropped the most for Delhi (by 24 points).
The report indicated a decrease in intention to hire at all managerial levels but there was increase in intention to hire in marketing and customer service functions.
“Employers are cautious and are placing emphasis on skill-gap employamability. Intention to hire is weak this time around. The jitters have been shaken off, however, and the numbers are now likely ramp up”, according to Rajesh A.R., V P Teamlease Services.
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