Whether or not the economy strengthens in the West, the job scenario in India will not be bleak.
Whether or not the economy strengthens in the West, the job scenario in India will not be bleak. A survey carried out amongst 5,118 employers in India states that hiring would take place in the October-December period. However, the pace will be moderate and not robust.
The manpower employment outlook survey says that hiring will be healthy, but shows a decline as employers become less confident. Manpower India managing director Sanjay Pandit said due to the uncertainties in the global markets, employers in India are adopting a wait-and-watch policy.
“This is probably the reason we are not seeing them commit to the same optimistic hiring plans they reported at the beginning of 2011. As a result, one out of every four employers is uncertain about their hiring plan for the last quarter of the year—an unusually high percentage when compared to past quarters,” said Pandit.
The survey further says that in India, about 35% of employers are expecting to increase headcount, while 1% are expecting a decrease in headcount in the following three months, with the rest expecting no change in employment trends. However, prospects for job seekers in the developed world seem dark as the weak economies of the US and EU and the debt crisis in Greece and Spain have started affecting employers’ confidence. Even in China, the job scenario appears bleak as the country relies heavily on exports to the US.
“India is still good compared to other countries as we are not seeing any layoffs or a complete hiring freeze,” according to Namr Kishore, head, marketing, Manpower Group India.
Bangalore-based recruitment firm Krizalis Consulting’s managing director Bhupesh Gupta said several big firms with business dependency on the West are refraining from hiring in large numbers.
“However firms with a more India-focused approach are not redrawing their hiring plans. It is highly probable that going ahead, campus hiring might fall by as much 40% with respect to companies with high exposure to the West,” said Gupta.
Anantha Radhakrishnan, VP and head, business transformation service, Infosys BPO, said the firm will continue to grow at twice the BPO industry’s rate (of 10-12%) and will simultaneously increase headcount to match the growth.
According to an HR official from a Bangalore-based software firm, the hiring that would happen will mostly be replacement hiring and not active recruitment, unless the demand grows substantially.
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