15 December 2011

Indian Cos Most Optimistic on Hiring Among 41 Countries

The Indian employers’ hiring intentions are the most optimistic among all 41 countries surveyed, reveals Manpower Employment Outlook report. The study that surveyed 4,556 employers across India reported that hiring activity will be quite powerful in the next three months, specifically in the Services sector. In majority of the world’s labor markets, job seekers can expect a slower first-quarter hiring pace in the coming here than the fourth quarter of 2011. Although the hiring intentions of the overpowered employers still depend on the current economic challenges and uncertainties, forecasts remain positive in 31 out of 41 countries. Apart from India, countries like U.S. and Japan affirmed positive signals of hiring whereas hiring intensions of China considerably deteriorates from last year.

Organizations in all four regions of India and all seven industry sectors are optimistic about their hiring plans for the forthcoming months. The perspective of the net employment has increased in six out of seven industry sectors, when contrasted to the previous quarter. The service sectors that offer the brightest hiring opportunities for job seekers in the upcoming three months are the mining and the construction sector, which reported more than 49 and 47 percent of hiring respectively. However, the nation’s weakest hiring plans are said to be in the wholesale and retail trade sectors.

Sanjay Pandit, Managing Director of Manpower India said, “Notwithstanding the uncertainties in global markets, hiring plans are bouncing back after a slight decline in the final quarter of 2011, and employers in India are anticipating a vigorous hiring pace in the next quarter. This trend is being led by the IT, Banking and Manufacturing companies, especially multinationals and large national corporations, which are planning to hire aggressively in the first quarter of 2012.” He added, “Outlooks in Public Administration & Education and Mining & Construction sectors are also rebounding after declining by varying degrees in the fourth quarter, and employer hiring plans have strengthened considerably.”

Further, the study listed the strongest hiring intentions of other countries namely Brazil, Taiwan, Panama and Turkey. On the other hand, the weakest hiring intentions were demonstrated by the countries like Greece, Hungary and Italy, where a greater percentage of employers are planning layoffs. Despite positive employment anticipated in 13 out of 22 countries surveyed across Europe and the Middle East, net employment perspective are weaker from three months ago in 17 countries and 11 compared to this time last year.

"Indian jobseekers should see hiring activity rebound in the first quarter, as GDP growth continues. This is becoming increasingly difficult as India's national workforce struggles to keep pace with demand for these technology roles," Jeffrey A. Joerres, Chairman and CEO of ManpowerGroup said. "Meanwhile, employer hiring expectations drop across all Chinese industry sectors compared to three months ago and this time last year, but despite the slowdown job seekers with relevant skills should still find plenty of opportunities. In Japan, as the country gradually recovers from the 11 March natural disaster, the labor market continues to strengthen with the strongest job prospects found in the Mining and Construction sector. However, the talent mismatch remains a serious concern for job seekers and employers alike in the Tohoku area."