Global slowdown to have limited impact on IT hiring: Survey
Senior HR managers believe that the gloomy global economic scenario will have limited and short-term impact on hiring in the Indian IT sector as the industry is better prepared to deal with the current slowdown, compared to 2008 meltdown, says a survey.business Updated: Sep 25, 2011 11:26 IST
Senior HR managers believe that the gloomy global economic scenario will have limited and short-term impact on hiring in the Indian IT sector as the industry is better prepared to deal with the current slowdown, compared to 2008 meltdown, says a survey.
As many as 62.9 % of the respondents do not expect the global economic scenario to impact hiring plans, while 37.1 % of HR heads surveyed do expect a cut back on hiring, according to the survey by HeadHonchos.com, a job search portal for senior management professionals.
"The hiring outlook for the IT industry is holding steady and feedback from companies indicates that they are better geared to deal with the challenges ahead," HeadHonchos.com CEO Uday Sodhi said.
Nearly 92 % of the respondents believe that the impact will be limited to the next six months and only 8.1 % expect any long-term fall-out, the survey said.
"HeadHonchos has seen good traction in terms of IT jobs for mid-management and senior candidates over the last 6 months and companies on our job portal are going ahead with hiring decisions," Sodhi added.
The findings of the survey, which covered HR heads in leading companies in the Delhi-NCR, Mumbai and Bangalore, suggest that industry is today better prepared to deal with the current slowdown as compared to 2008.
The survey, which was undertaken to test sentiments in the IT industry -- the most sensitive among other sectors to global market movements -- further said that the hiring outlook in North and South India is more optimistic than in the western region.
Around 64.7 % of respondents in Delhi NCR and 72.7 % respondents in Bangalore indicated that hiring plans will not be affected.
In contrast, only 33.3 % of the companies in Mumbai anticipate that the global economic scenario will not impact hiring plans, HeadHonchos said, adding that those organisations that plan to reduce hiring expect the impact to be felt across all levels.