Growth in, jobs back
The season of pink slips appear to be coming to an end with a slew of recent data showing strong signals of economic expansion and greater hiring by firms, reports Ruchi Hajela.business Updated: Oct 05, 2009 01:06 IST
The season of pink slips appear to be coming to an end with a slew of recent data showing strong signals of economic expansion and greater hiring by firms.
Automobile firms, some of which clocked record sales in September mirroring strong consumer demand, appear to have recruited the most. A labour ministry survey showed the sector recruited 18,000 additional employees in April-June.
Information technology (IT) and business process outsourcing (BPO), sectors heavily dependent on overseas contracts, appear to be doing well. The survey showed that the “non-exporting” (companies that do not earn significant revenues from overseas clients) IT and BPO companies hired an additional 15,000 employees during the April-June quarter, the survey showed.
Recruitment agencies and headhunting firms confirmed that enquiries by prospective employers have started trickling in and many expect hiring to grow sharply after January.
“Leadership positions are opening up but jobs across the board will open up only by January to March as employers are cautious of over hiring,” Rajesh AR, vice president at Bangalore-based staffing firm TeamLease Services.
“We should see good conversions around the third quarter (October to December).”
Fresh hiring trends offered hope to many, who are struggling after losing their jobs as the ripple of a global credit crisis swept through the world.
“I lost my job last November. There are vacancies but none matches my previous profile and compensation,” said a mid-level insurance professional who did not wish to be named.
Temp staffing firms said demand for contract workers are picking up in sectors such as healthcare, pharmaceuticals and consumer goods but job hunters need to flexible about work profile and salary expectations.
Data shows that India’s firms are expanding, backed by rising domestic demand. Overall factory output grew by 6.8 per cent in July, while consumer durables output grew 19.8 per cent reflecting higher purchases of TVs, refrigerators and other such goods.
“The (job) scenario definitely looks better than what it was a few months back,” said Pramod Thikalan, executive director of the Executive Recruiters’ Association, a body representing Indian recruitment consulting firms.
He, however, cautioned a clear recovery in the job market might still be a few months away.