Life in the slow lane

Indranil Chakraborty
Posted: Monday, Dec 01, 2008 at 0129 hrs IST
Updated: Monday, Dec 01, 2008 at 0129 hrs IST

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: IT business may witness a fall in growth in the next two quarters.

In 2007-08, total IT exports from India stood at $40 billion and the domestic business at $11 billion. Mittal believes that IT companies would hire less in the current fiscal and are working hard to improve the utilisation numbers. He is confident that there wouldn’t be any major layoffs in the industry. “Lay-offs could happen in small firms, but the employment scenario will remain stable for large IT companies,” he adds.

If the Teamlease employment outlook report is to be believed, there is good news for the country’s ITeS sector. Comparing the last two quarters to this quarter, there is a gradual increase in employment outlook index points of the ITeS sector. Among the cities, there is an increase in employment outlook index points of Hyderabad and Pune. At the same time, there is a decline in index points of Chennai, Mumbai, Bangalore, Delhi, Ahmedabad and Kolkata. Shetty of Teamlese says the IT sector has shown a steady slowdown in hiring in the last few quarters, which is indicative of the maturity of this sector. On the other hand, the ITeS sector has been volatile on the hiring forecasts in the last few quarters.

But for Subramanian A, senior vice-president, HR, at Bharat Matrimony, not everything is associated with gloom and doom. “As HR professionals, it is a challenge for us how not to loose the core people in the organisation and make them more productive.” Brief for the HR departments seem to have taken a U-turn in the slower lane. For the likes of Subramanian, the job is to retain, engage and make employees more business sensitive in recession time. This definitely ought to be music to the ears of the panic-stricken techies out there in the industry....

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