News: Senior hiring takes a hit, caution in job market

Talent Acquisition

Senior hiring takes a hit, caution in job market

As per a survey conducted by HeadHonchos.com, just 51 percent of employers expect to increase headcount, after backfilling for attrition, by March 31, 2013. Of the 51 percent ‘optimist employers’ – those who anticipate an increase in headcount in their organizations – 87 percent expect to grow the total employee strength by 6-20 percent. However these gains are offset to an extent by stagnant headcount or active downsizing in the remaining 49 percent of employers. The hiring outlook is even more subdued in the case of senior hiring, raising concerns around investment in green field projects and the future growth plans of India Inc.

As per a survey conducted by HeadHonchos.com, just 51 percent of employers expect to increase headcount, after backfilling for attrition, by March 31, 2013. Of the 51 percent ‘optimist employers’ – those who anticipate an increase in headcount in their organizations – 87 percent expect to grow the total employee strength by 6-20 percent. However these gains are offset to an extent by stagnant headcount or active downsizing in the remaining 49 percent of employers. The hiring outlook is even more subdued in the case of senior hiring, raising concerns around investment in green field projects and the future growth plans of India Inc.

Against an overall projected increase in headcount of 5% to 5.5% across all levels, a weak 2% increase in headcount is expected at senior levels. Prospects for mid management hiring also look austere, with a 3.4% projected increase in headcount. This trend is corroborated by mid-management & senior professionals across India, based on ground realities in their industries. As per the survey, an equivalent 51 percent of professionals foresee active hiring in their organisations, with 38 percent expecting stagnant headcounts. Interestingly, only 11 percent of professionals surveyed expect downsizing in their organisation as opposed to 26 percent of employers.
 

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Topics: Talent Acquisition, #Updates, #Jobs

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