58% employers in India expect rise in hiring in FY14: Report

The author has posted comments on this articlePTI | Aug 11, 2013, 11.39AM ISTMUMBAI: The employment outlook for 2013-2014 remains positive in the country with 58 per cent employers anticipating a growth in staff numbers over the next 12 months, according to a recent survey.

"About 58 per cent employers anticipate an increase in staff numbers over the next 12 months. Some 36 per cent believe their staffing levels will remain stable, while only 6 per cent anticipate a reduction in head count," the annual 'India Salary and Employment Forecast 2013/14' by global professional recruitment consultancy Michael Page revealed.

This positive outlook in recruitment has mainly been driven by global companies looking at India as a core growth market given the ongoing uncertainties in the US and European economies, it added.

It further said India is regarded as a logical business hub with a well-qualified young workforce and the required infrastructure to support international business activities.

With regards to demand for talent, the report forecasts an increase in demand at the middle management level across all sectors.

A steady volume of recruitment at junior and graduate level roles is also expected in the coming year.

Specialist skill sets, currently limited in the existing talent pool, are also likely to be in demand.

If the economy continues to strengthen over the next 12 months, companies will continue to increase their focus on the retention of top performers, the report said.

Especially, the services sector is likely to see robust growth with a solid demand for professionals with strong domestic experience.

This is spurred by continuing growth within the health care and life sciences sector as well as an expected acceleration in the growth of retail as the government relaxes entry restriction for foreign players in this sector, it said.
With the continued entry of new foreign players into the country along with the growth of existing organisations, experienced professionals across all functions continue to be in demand, the report opined.

Middle to senior level professionals would likely to get a salary rise between 10 per cent to 20 per cent, while bonuses may increase up to 20 per cent, it added.

As talent attraction and retention becomes a key focus for employers, providing employees with the right mix of training and development to drive career growth has become a priority.

Employers, it said, who offer these opportunities along with the right cultural fit and expected salary levels will, therefore, be highly sought after.

The recruitment market in India, however, remains relatively immature, with most of the hiring activity conducted through in-house recruitment teams and internal referrals.

However, the report said, a shift towards specialist recruitment partners has been observed due to the requirements for specialist skill sets and an increasing shortage of supply of strong middle to senior professionals with both the technical expertise as well as the cultural fit.

Source: http://timesofindia.feedsportal.com/c/33039/f/533965/s/2fcf487d/sc/2/l/0Ltimesofindia0Bindiatimes0N0Cbusiness0Cindia0Ebusiness0C580Eemployers0Ein0EIndia0Eexpect0Erise0Ein0Ehiring0Ein0EFY140EReport0Carticleshow0C217570A940Bcms/story01.htm

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