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Jobs in India will flow fast and furious

The findings of the employment outlook survey for April-June by employment services company ManpowerGroup reveal that the outlook for hiring has changed for the better over the past three months

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The hiring cycle is gaining momentum. And expectedly, India is one of the few countries that have taken pole position. The findings of the employment outlook survey for April-June by employment services company ManpowerGroup reveal that the outlook for hiring has changed for the better over the past three months in most major economies, and the US is no exception. However, the word of caution is that in case there is a financial crisis, employers may choose to play it safe.  

The survey added that the services sector is the epicentre of all the action, where IT, ITeS remain most optimistic (See table). Overall, hiring plans stay strongest in India, where nearly six out of 10 employers in the services sector will hire more, going forward.
Of the sample size of 4,992 here, as much as 49% expect a higher headcount, 33% predicting no change and only 1% anticipating a drop. This brings the net employment outlook to 48%.

Of the 41 countries and territories surveyed, Indian employers are most upbeat about job prospects. MD of Manpower India Sanjay Pandit said the dynamic outlook in the services sector is being fuelled by the IT industry’s highly positive hiring strategies, especially by technology giants. “Likewise, PSU banks are also expected to hire thousands to support extension plans,” he added.

Sunil Goel, director at search firm GlobalHunt, sees a hiring trend, but feels companies are found wanting to increase headcount in a big way. “It might not be very high, but then it is not too low either,” Goel said.

An HR official from a BPO firm explains the apparent paradox. “A huge chunk is replacement hiring and not necessarily adding more employees. If 100 people have left, the firm will hire an equivalent number. It is not that they are hiring 200 or so,” he let out.

Talking about a region-wise break-up, the survey labels employers in the Western part of the country as most optimistic with a 50% employment outlook, closely followed by the South at 48%. These regions are dominated by the services and finance sectors which hire in large numbers and hence they comparatively show positive trends, Goel reasoned.

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