India is the most optimistic country globally in terms of hiring plans for the next three months, however there is some sign of “increased caution” among employers amid global slowdown and impact of automation in the IT sector, says a survey.
The quarterly Manpower Employment Outlook survey, released today by ManpowerGroup, said hiring confidence is strongest in India, Japan and Taiwan, while employers in Brazil, Belgium, Finland, Italy and Switzerland report the weakest hiring plans.
India’s net employment outlook for the October-December quarter of 2016 stood at 31 per cent, the highest among 43 surveyed nations.
“The hiring outlook reflects some signs of increased caution among employers as Indian companies gauge the impact of the ongoing global slowdown compounded by automation in the IT sector and talent scarcity,” A G Rao, Group Managing Director of ManpowerGroup India said.
Rao however, said there will also be some gains in the high-skill jobs, as automation could create new positions too.
However, the government’s focus remains clearly on creating jobs and ensuring that India becomes a manufacturing hub.
The survey of 5,089 employers across India noted that employers anticipate payroll gains in all seven industry sectors during the forthcoming quarter. The strongest labour market is expected in the services sector.
“In the current situation, companies do realise the need to embrace digital transformation and it is important for Indian employers to redefine their workforce strategies and adopt innovative ways to leverage the strength of people and stay competitive,” Rao said.
He further noted, for gainful employment, job-seekers too need to continuously update and assess their skills to stay ahead of the curve in sync with the evolving economic trends.
The Net Employment Outlook of 31 per cent is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this number, the percentage expecting a decrease at their location in the next quarter.
Globally, staffing levels are expected to grow by varying degrees in 42 of 43 countries and territories through the end of the year. Only employers in Brazil expect payrolls to decline in the October-December time frame.
ManpowerGroup is a global player providing workforce solutions.