Jobs are back! India Inc on manhunt drive as slump eases

Jobs are back and India Inc is witnessing an upsurge of 15 percent in hiring trend, thanks to the improving economic climate.

Last Updated: Sep 28, 2009, 19:30 PM IST

New Delhi: Jobs are back and India Inc is
witnessing an upsurge of 15 percent in hiring trend, thanks
to the improving economic climate.

However, experts say it is too early to say that the
situation has returned back to `normalcy`.

"We see the movement happening across the sectors and it
looks like worst is over. But the current scenario can not be
considered as normal but it is better than bad," executive
search firm GlobalHunt India professional leader Sunil Goel
If everything goes fine then it will take a year to reach
to a normal situation, he added.

In last two quarters (January–March and April–June),
hiring was almost 0–5 percent across industries but in
current quarter, average hiring has increased 5–15 percent
across industries.
Sectors like telecom, infrastructure, life sciences and
energy have witnessed 25–30 percent rise in hiring in the
second quarter against the first quarter of this fiscal.

Meanwhile, IT, retail, banking, consulting, FMCG have
seen 8–10 percent hiring in the September quarter compared to
the previous quarter.

"With the economy showing signs of recovery, there is
cautious optimism in the job market and going forward, the
coming quarters are expected to be better," an industry expert

Companies have started executing their new business plans
and are expanding. At least people are not losing their jobs
and at the same time there are alternate opportunities
available for further career progression, experts said.

Meanwhile, a survey by leading job portal has
revealed that India Inc`s hiring activity has picked up 8 percent in June and a further 1.3 percent in July this year.

Besides, the latest employment outlook survey by global
staffing services firm Manpower also substantiates the
bullishness in the job market, with as much as 25 percent of
the employers showing an intention to recruit people in the
next three months of this year.

The survey said that job seekers in finance, insurance,
real estate, services, wholesale and retail trade, public
administration and education, and construction segments
can expect favourable hiring environment.

"The next quarter looks good for those people who have
lost their jobs during slowdown. They will always be preferred
than college students. Volume may come back in a year’s time
from current market trends," Goel added.

The optimism in the job market is also visible in the
United States. As per a survey by global career transition and
coaching firm OI Partners, American firms are looking to
re-hire employees they laid off in the past, mainly in the
finance and manufacturing sectors.

Bureau Report