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India Inc set to rev up hiring: survey

Sectors like finance and insurance are set to power hiring in the country in the last quarter of the curent fiscal.

india Updated: Sep 12, 2006 19:43 IST

Powered by sectors like finance and insurance, the job market in the country is expected to grow with employers predicting strong hiring activity in the last quarter this fiscal, according to global survey.

The survey, conducted by global recruitment consultancy Manpower Inc, interviewed as many as 4,732 employers in India, out of which 45 per cent expected their staffing levels to increase while 41 per cent were expecting no change.

However, three per cent of the interviewed employers were expecting a decrease in the headcount, the survey said.

Employers in the finance, insurance and real estate sector were most optimistic when it came to increasing headcount.

As many as 50 per cent of the people interviewed were expecting the employment level to increase.

These sectors were closely followed by service industry where 45 per cent of the employers queried anticipated an increase in its staffing levels.

The overall employment outlook for India in the last quarter of the current financial year was encouraging with as many as 42 per cent of the employers optimistic about increasing headcount.

"The improved hiring expectations reported in the finance insurance and real estate sector is consistent with the hightened activity in these sectors. Further, the entry and growth of multinational banking and finance firms in the subcontinent has fuelled hiring in this sector," Manpower India Executive Chairman Soumen Basu.

Manpower employment outlook survey for the fourth quarter of 2006 covered employers in 26 countries across the globe. Employers in Peru were the most optimistic about increasing levels of staffing with as many as 48 per cent expecting an upsurge in the hiring trends.

"The hiring intentions reported by employers across the sectors denote significant job opportunities and better prospects for Indian job seekers. The optimism shown by Indian employers is reflective of the rapid pace at which the Indian economy is growing," Ianpower Inc Chairman and Chief Executive Officer Jeffrey Joerres said.