Indian companies' hiring intention for the next three months has weakened compared with the current quarter but remains strong over the year-ago period, says a survey by consulting firm Manpower.
India’s net employment outlook (NEO), which indicates hiring intentions, stood at 38% for the October-December 2010 period, a marginal decline from 41% recorded by the previous quarterly survey for the third quarter of 2010.
The latest Manpower Employment Outlook Survey, that covered almost 5,400 employers in the country, also revealed that hiring intention has improved 8% compared with the fourth quarter last year, when the economy was still recovering.
“The job market remains robust in India as a result of strong domestic growth and recovery in key global markets,” said Manpower India MD Sanjay Pandit.
Sectors where companies are likely to see strong recruitment include public administration & education followed by services besides finance, insurance and real estate. Employers in sectors such as transportation, utilities and wholesale & retail trade are less likely to create jobs in the coming months.
In terms of regions, employers in the South have strong hiring plans with NEO of 41% for the coming quarter, while those in North have an outlook of 37%, followed by East (36%) and West (32%). NEO is derived by taking the percentage of employers anticipating total employment to rise, minus the percentage expecting to see a decline in employment at their location in the next quarter. It also takes into consideration the seasonal adjustments in employment.
The global survey revealed that hiring intentions in the entire Asian region is stronger as compared to the past few quarters. India that has been top of charts in terms of employers’ hiring plans in the past two years, has slipped to the third position behind China and Taiwan.
But increase in hiring intent in other APAC countries is good news for Indian job seekers, said Mr Pandit. “We have seen a surge in cross-border opportunities for job seekers from key global markets. Once you combine strong domestic hiring along with improved international opportunities, we see one of the best scenarios that Indian job seekers could have imagined,” he said.
With NEO of 47%, China has the brightest hiring outlook, followed by Taiwan at 40%. Of the 36 countries surveyed, 28 nations showed positive hiring trend for the next three months. Employers in Greece, Italy, Czech Republic, Spain and Ireland reported the weakest hiring plans.
From: The Economic Times
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