Pace of hiring in the country is likely to slow noticeably in the coming quarter, particularly in the public administration, education, transportation and utilities sectors. Indian employers are downshifting from the vigorous hiring pace seen over the past two years, according to the Manpower Employment Outlook Survey.
However, net employment outlooks remain positive in all industry sectors and all regions, and the number of employers who say they intend to hire in the fourth quarter outnumber those who report they will reduce payrolls by almost 20 to 1. Additionally, more than half of all employers surveyed indicate they plan to keep their workforces at current levels through the end of the year, said the survey.
Sanjay Pandit, managing director of ManpowerGroup India, said, “The weaker hiring outlook reflects caution amongst employers as Indian companies gauge the impact of the ongoing global slowdown compounded by local governance issues and policy paralysis. Keep in mind that our research indicates Indian employers do not intend to shed staff, but they are definitely planning to considerably downshift their hiring until they see more positive signals in the marketplace. In the current situation, it is important for Indian employers to redefine their workforce strategies and adopt innovative ways to leverage the strength of people in the Human Age and stay competitive in an increasingly volatile economy".
Hiring plans in all four regions of India and all seven industry sectors weaken by varying degrees for the coming quarter, with outlooks declining by 20 or more percentage points in five sectors in a quarter-over-quarter comparison. The job seekers can expect the most opportunities in the mining & construction sector and in the North region. The weakest fourth-quarter hiring plans are reported by employers in the public administration / administration sector and the East region. In the public administration/ administration sector, employers report the least optimistic outlook since the survey began in 2005.
In addition to the mining and construction sector, positive outlooks are reported by employers in all industry sectors.