Stability appears to have returned to the country’s job market with recruiters anticipating more hiring ahead after hitting its lows in December when the downturn-hit economy saw layoffs. “The overall business has improved by 20 per cent from the December to March period when the effect of the slowdown was showing its impact,” Pramod Thilakan, associate director, Executive Recruiters’ Association, told Hindustan Times.
“The mood is improving slowly, at least recruiters are not talking about layoffs,” said Hitesh Oberoi, CEO at Info Edge. “IT is still badly affected while FMCG, pharma and telecom are hiring. Replacement hiring is picking up too.” Info Edge-owned Naukri.com had reported a 60 per cent decline in its earnings in the Oct-Dec quarter and in December reported only 697 monthly job listings, its lowest since 2008 July’s average of 1,000 listings.
Rival Monster.com said its business has shown some improvement driven by hiring in education and health. “Our total job listings had dropped to 35,000 in December but things have improved and we have about 45,000 jobs posted on our website now,” said Sanjay Modi, MD, Monster India, South East Asia and Middle East.