The much awaited cheer is back in the Indian job market. According to the latest Teamlease Employment Outlook Survey for the April-June quarter of year 2010-11, the Employment Outlook is up by 11%. To put it simply, this is great news for all job-seekers. The previous quarter though positive was certainly not as encouraging as the current one. The survey covers India’s 513 companies within the organized sector providing representation across sectors including Manufacturing, Engineering, Financial Services, IT, ITES, Infrastructure, Retail, Media, FMCG, Telecom, Healthcare & Pharma.
According to the report, this quarter will witness a gradual but sure advent of aggressive hiring. The Employment Outlook for the quarter has jumped from 47% to 58%. The Business Outlook too is up by 15%, and currently stands at 56 index points.
So what does that mean to any of us? For starters, this is your chance to look forward to getting a job opportunity you’ve been waiting or working for. “Industry seems to have turned the corner and intends to hire aggressively,” Rajesh AR, VP, TeamLease Services confirms.
The sectors which show promise of mass hiring include Healthcare/Pharma (with 72 points) which has the highest index points followed by IT (with 69 points). Interestingly, the Infrastructure sector which was leading in the last quarter is lagging behind now with a net decrease of 33 points.Among cities, there is an increase in Employment Outlook index points of all metros including Bangalore, Mumbai, New Delhi, Hyderabad, Pune, Kolkata, Ahmedabad, Chennai. The one leading the brigade is Bangalore which saw the highest increase (by 23 points) in Employment Outlook Index points followed by Ahmedabad (by 17 points). “The recovery in sentiment is smart, comprehensive and widespread – the jump in hiring sentiment is shared across geographies and across most sectors,” shares Rajesh.
According to the survey, there is an increase in the intention to hire across all functions, except Marketing and Customer service which are at par with last quarter. It is observed that the intention to hire has increased (highest at Middle level) across all levels, except entry level. “The improvement in sentiment has been studied and gradual over the past 4 quarters – giving us sufficient reason to believe that it is here to stay,” notes Rajesh. “Although global economy concerns persist, as far as the employment scenario in India is concerned, the cheer has spread and the good times are back,” he concludes.
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