Hiring outlook has turned rosier in India than it has been in the past two years. A survey has revealed a significant increase in the number of employers who expect to hire in the ongoing first half of the current financial year amid positive sentiment generated by healthy economic growth.
According to the TeamLease Employment Outlook Report for April-September 2018-19, there has been an increase of four percentage points in the net employment outlook to 95%, compared to 91% for the preceding half-yearly period, October-March 2017-18. The last time the survey reported a 95% net employment outlook was for October-March 2016-17.
The sectors which are expected to drive hiring during this fi scal, according to the survey, include retail, business process outsourcing (BPO), IT-enabled services (ITeS), fast-moving construction goods (FMCG), construction and real estate, and media and entertainment.
“For India, employment outlook is at 95%, which is substantially higher than in other Asian regions,” said Rituparna Chakraborty, co-founder of TeamLease. “A majority of cities (fi ve out of eight) have shown positive outlook towards hiring across hierarchy. Medium-sized businesses are the most optimistic and have reported a 5% improvement in hiring sentiment. These factors combined are expected to boost the job market.”
In the survey – conducted by the human resource services company among 695 small, medium and large companies across 16 sectors – 96% companies responded positively (saying hiring would increase from the previous half-year) while 1% responded negatively (saying hiring would decrease from the previous half-year) and 3% said there would not be any change in the volume of hiring from the previous half-year.