Hiring to rise 15%; 4-8 year experience workforce to gain more
Employees with 4-8 years of experience will have the most job opportunities in the fiscal year 2016-17 and ‘junior’ level employees are more susceptible to attrition. This was found in the Survey by the staffing firm Genius Consultants’ on ‘Hiring, Attrition & Compensation Trend 2016-17’. The hiring plan for this financial year look bullish as 43% respondents who are corporates spanning diverse industries said there will be 15% rise in their staff strength this year.
Some of the corporates which participated in this year’s survey include, Infosys, Mahindra and Mahindra, Reliance Communications, Alstom India, TCS, Larsen and Toubro, Vijaya Bank, Schneider Electric India and HCL Technologies.
"Around 45.13% respondents believe that both new vacancies and replacement hiring will take place in a current hiring scenario," Genius Consultants’ Chairman and Managing Director R P Yadav said.
According to the Survey, about 44.25% organizations believe that employees with 4-8 years of experience will have a better job prospect this year.
Regarding increments, 46.90% of business houses said 5-10% is the normal range of increments likely in this fiscal.
On attrition, the Survey said 52.21% corporates believe 'junior' level employees in their organizations are most susceptible to attrition and noted that 38.05% companies think that the anticipated attrition level in their organization for 2016-17 would be 5-10%.
However, about 66.37% of the respondents said that using analytical tools such as psychometric tests for hiring new recruits is still not the norm for the industry.
The online survey is conducted every year to gauge hiring trends across sectors.