India third-most Optimistic in Hiring: ManpowerGroup
There seems to be some cheer for Indian job seekers in 2018! According to a survey by ManpowerGroup, India is the third most optimistic nation in hiring in the first quarter of 2018, says a news report. Nearly 22% of the employers are expected to hire talent in the next three months, and an increase in the staff numbers are expected in seven industry sectors all over the country. Additionally, a strong 27% net employment outlook is expected with service employers.
The ManpowerGroup Employment Outlook Survey puts Taiwan (with a 25% net employment outlook) as the most optimistic country with regard to hiring intentions for the first three months of 2018, followed by Japan at 24%. The survey reflects hiring confidence among employers, and calculates the net employment outlook by “subtracting the percentage of employers anticipating a decline in total employment from the percentage expecting to see an increase.”
AG Rao, Group Managing Director, ManpowerGroup India, has been quoted saying, “Despite the market volatilities, India's macroeconomic fundamentals have improved due to a combination of various initiatives focused on job creation and skill development, with a continuing emphasis on ease of doing business, particularly in relation to infrastructure and other large projects.”
The staffing consultancy surveyed approximately 59,000 employers across 43 countries, and found that organisations in Australia, Norway, Poland, Romania and USA have signalled their ‘strongest’ hiring plans in nearly five years. Of the 43 countries, 41 reported a positive net employment outlook, but the sentiment was weaker in the markets of Europe, Middle East and Africa. Furthermore, unpredictability and volatility in the job market, witnessed in the recent past in countries like Brazil, China and India, is waning, the report said.
Jonas Prising, ManpowerGroup Chairman and CEO, says, “The first quarter of 2018 is looking bright for jobseekers with employment Outlooks improving in many markets. Employers across the globe and especially in the U.S, Asia Pacific and parts of Europe are positive across a number of sectors, and people with in-demand skills will find themselves in high demand. Employers will need to work hard to attract and develop people with the skills they need to remain competitive. As globalization and digital transformation impact different countries and industries at different times, upskilling and reskilling tomorrow's workforce for available jobs will be critical for long-term employability. The future looks positive, providing we help people develop the skills they need to capture these opportunities."
In India, with over 4,500 employers spread all over the country, the survey suggests that job-seekers might have more opportunities than they have had so far in the current quarter. The good news doesn’t end there, as employers are also expecting payroll gains during the first quarter of 2018, and the strongest labour market is forecast in the northern region, where the net employment outlook stands at 32%.
Rao adds, “There are continuous ongoing measures to encourage industries to expand their operations, which in turn will help boost the job market. Employer hiring intentions remain positive in all seven sectors, primarily driven by services, mining and construction, manufacturing, and transportation and utilities sectors... Job-seekers and fresh graduates need to possess the desire and ability to learn new skills to stay relevant and remain employable. The challenge is to stay ahead at this time along with other factors such as global demographical shifts and the growing competition.”
You can view the complete results of the ManpowerGroup Employment Outlook Survey here