Growth sizzles but jobs lag as firms digest hires | business | Hindustan Times
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Growth sizzles but jobs lag as firms digest hires

business Updated: Oct 19, 2010 21:51 IST
HT Correspondent
HT Correspondent
Hindustan Times

The robust hiring across sectors that had marked the first half of the financial year might take a pause as companies focus on training and skill-honing programmes for their newly-hired workforce and remain cautious over doling out fresh job offers.

The Employment Outlook for October-December 2010 by staffing firm TeamLease said that even as corporate India is bullish about their business prospects, the cautious approach on hiring stems from the fact that adequate employee capacity had been built over the first half of the fiscal year.

“The hiring activity had spiked during the first four months of current financial year and now these companies want to concentrate on training their freshly hired workforce and hone their skills,” said Sangeeta Lala, vice-president, TeamLease Services. “For the remaining part of the fiscal, hiring activity will remain muted.”

The employment outlook index moved up by 4 percentage points to 68 per cent, while the business outlook index rose 10 points to 71 per cent.

TeamLease calculates the employment outlook index as the difference in proportion of respondents who report an increase in hiring needs and those who report a decline in hiring needs over the next three months. The business outlook index is computed by subtracting the percentage of respondents who say business in the next three months is likely to decrease from the percentage who say it will increase.