News: Hiring Growth Outsmarts Business Sentiments in Q1

#Updates

Hiring Growth Outsmarts Business Sentiments in Q1

Employment Outlook Index climbs up by a steep 5 points and yet again touches a new high

Employment Outlook Index climbs up by a steep 5 points and yet again touches a new high. This growth is underpinned by a corresponding growth of 3 points in the Net Business Outlook Index. This growth is reflected in the hiring trends; Sector trends for the Employment Index are more drastic than the trends across cities. With just two sectors – Retail & FMCG and Infrastructure – incrementing index values, all others witness fairly high changes. The significant changes are seen to be equally balanced between increases for IT, ITes and Telecommunication, and decreases for Manufacturing & Engineering, Financial Services and Healthcare & Pharmaceuticals”.

 According to <Sangeeta Lala, V-P, TeamLease Services</, "With the finance minister forecasting GDP to grow at the rate of 9%  in his last month’s  budget speech and inflation to be controlled below 7%, the first quarter of the new financial year seems to be promising. There is an upswing in the hiring sentiment; if we talk in terms of sectors, telecom sector continues to indicate growth in their hiring trends and the engineering and manufacturing sectors which have shown relative steadiness in last two quarters are looking downwards.”</p>

 “Going forward, SMEs are looking to hire in junior and mid levels, effectively more expansion across locations while large companies are intending to hire at senior levels. And for the first time in the past year, the Employment Outlook Index beats its own pace of growth vis-à-vis the Business Outlook Index. It has been trailing the Business Outlook Index for 3 quarters now, implying a rather conservative hiring sentiment. The slight uptick in the current quarter means marginally higher growth in hiring sentiment and hence, points to an overall sense of cheer,” she added.

 TeamLease releases the Employment Outlook Report every quarter after a survey conducted with HR managers and senior management of leading companies in India. The study, which covered 640 companies in the latest round, focuses on the employment growth potential, the business outlook and hiring forecasts with relation to the location and the company profile.

Topics: Updates, C-Suite

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