Human resource services firm Manpower Inc. says Indian employers remain optimistic on hiring in the July-September quarter, despite a crisis in Europe and feared contagion. The latest Manpower Employment Outlook Survey released on Tuesday shows net employment outlook for the three months at 42%, up 2 percentage points from the preceding quarter and as much as 19 percentage points above the same period a year ago.
Indian employers forecast a booming labour market in the third quarter of 2010, says the survey. India has the strongest job prospects among 36 countries, followed by Brazil, Taiwan and China. "Indian companies have diversified their risk by focusing more on the Indian market. Their dependency on Europe is not very high," said Sanjay Pandit, managing director, Manpower India.
Positive sentiment in the ongoing quarter has translated into "substantial hiring across sectors" and the buoyancy will continue as companies are no longer as cautious as they were during the economic slowdown, he said. Pandit added he has seen a 40% rise in hiring this year, the improving sentiment reflecting the turnaround in the domestic economy, healthy growth in the Index of Industrial Production, and rising exports, clubbed with good consumer and government spending.
Mining, construction and manufacturing companies foresee the most robust hiring. N. Pany, vice-president, group HR (human resource), at iron ore mining company MSPL Ltd, said he is hiring both due to rising attrition and for two upcoming greenfield projects in steel and coal processing. Hiring sentiment has improved over the preceding quarter in the public administration and education, and wholesale and retail sectors as well.