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India Inc cautious on new hiring: Survey

India Inc is cautious on new hirings due to economic uncertainties as only half of the people terminated or who resigned in 2010 found new jobs in the second quarter of 2011-12, a survey has revealed.

business Updated: Oct 16, 2011 18:29 IST

India Inc is cautious on new hirings due to economic uncertainties as only half of the people terminated or who resigned in 2010 found new jobs in the second quarter of 2011-12, a survey has revealed.

Almost 51% of employees who were terminated or resigned from their jobs in 2010 reported they found new opportunities in the second quarter of the current fiscal, according to a survey by MyHiringClub.com, a hiring vendor consolidator.

“The global economic slump led by the United States and parts of Europe is likely to take a toll on the Indian industries insofar as hiring is concerned,” Rajesh Kumar, CEO of MyHiringClub.com said in the report.

However, he said the situation would not be as bad as it was in 2008-09 during the global economic crisis.

More than 13,960 employees who were terminated or resigned in 2010 participated in the study, which was conducted online by MyHiringClub.com from Oct 1-7.

Kumar said among respondents 81% employees who were terminated or resigned in the last year found full-time positions while 14% started their own venture and 5% found part-time work.

On remuneration, the survey revealed 59% people took jobs with equal or less pay, while 41% found a job with more pay than their previous position.

Some 61% employees who were terminated or resigned and found new jobs have relocated to a new place, the survey said.

People in the age group of 25-34 years have the highest incidence of getting new job opportunities at 57%, while only 12% of the people above 52 years of age found jobs.