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Job market set to bloom in new year

The average Indian, grappling with a falling rupee and spiralling inflation, still has something to cheer about. HT reports.

business Updated: Dec 13, 2011 21:29 IST
HT Correspondent

The average Indian, grappling with a falling rupee and spiralling inflation, still has something to cheer about.

Two different surveys by human resources consultancy firms — Manpower and Naukri.com — have reported robust hiring plans by Indian firms across sectors for 2012.

Global HR firm Manpower said in its quarterly job market report said on Tuesday that Indian employers are the most bullish globally when it comes to hiring, with robust recruitment plans for the next three months. In a separate monthly report card, job portal Naukri.com also said that hiring activities rose across sectors in November.

Against the backdrop of contraction in industrial output and gloomy economic growth prospects, concerns are rising that such situation could seriously hurt employment.

According to Manpower, Indian employers have reported the most optimistic hiring intentions among 41 countries and territories surveyed.

“Notwithstanding the uncertainties in global markets, hiring plans are bouncing back after a slight decline in the final quarter of 2011, and employers in India are anticipating a vigorous hiring pace in the next quarter,” said Sanjay Pandit, managing director, Manpower India. The trend is being led by the information technology, banking and manufacturing companies, especially multinationals and large national corporations, which are planning to hire aggressively in the first quarter of 2012, he said.

The Manpower Employment Outlook Survey also revealed that services, mining and construction sectors presented the brightest hiring opportunities for job seekers for the next three months.

Compared globally, the hiring intentions for first three months of the new year are strongest in India, Brazil, Taiwan, Panama and Turkey. Hiring intention is weakest in Greece, Hungary and Italy, where a greater percentage of employers are planning to trim payrolls rather than hire staff.

Also the Naukri Job Speak index — an indicator of online job demand — for November showed that hiring activities moved up across sectors from levels seen in October, signalling a “seasonal spike”.