A detailed study on the Employment Outlook for the half year (HY1) period from April to September 2015.brings forth some important employment and business trends that will play a significant role in determining how job creation and hiring pans out in India over the next six months. It is interesting to note that new domains such as Big Data and Predictive Analytics are accelerating the need for a highly sophisticated workforce, and at scale. IT, Engineering and Blue collar jobs will be much in demand
According to the report released by TeamLease Services, a composite staffing company, “Startups and Recruitment Process Outsourcing (RPO) are emergent trends. Though the net addition to the workforce is projected to be lesser than in the preceding half-year, the talent acquisition activity would continue to grow.
According to the report both business and employment outlook will witness a marginal dip in the current half year (April-September’15) indicating a consolidation approach by India Inc. While business sentiment will witness a drop of 1 point, the Employment Outlook will be down by 2 points.
However, the cautiousness seems to have not dampened job growth, it remains strong at 11.3%, although lower than last half year, it is significantly better than the previous year.
Elaborating on the report, Kunal Sen, Senior Vice President, TeamLease Services said, “As the economic fundamentals that drive business and hiring sentiments last half year continue to exist, the current dip is more a course correction than a downturn. The pro-industry announcements and easing of norms coupled by the resurgence in the GDP growth will definitely pull the hiring back onto the growth trajectory.”
Seven out of the nine sectors have registered a moderate to neutral business and hiring sentiment indicating consolidation in the market. While Retail (led largely by online) and Manufacturing & Engineering with a three and four point increase in business and employment outlook respectively are pushing the overall sentiment upwards, Telecom seems to be the laggard. City wise, Mumbai and Delhi continue to showcase exuberance in business and hiring, while Chennai’s growth is restricted only to business. It is interesting to note that Pune, is on a hiring spree and has registered a three point increase in hiring.