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States » East


Survey of 5,153 employers across India indicates steady hiring plans for upcoming 3 months

Survey of 5,153 employers across India indicates steady hiring plans for upcoming 3 months

Kolkata, Mar 10 (UNI) According to the ManpowerGroup Employment Outlook Survey

released today by ManpowerGroup, the survey of 5,153 employers across India indicates

steady hiring plans for the upcoming three months.

Sectors which will lead the job market are likely to be the Mining & Construction,

Wholesale & Retail Trade and Services sectors. Small-sized companies with employee

strength (10 - 49) will be hiring more than others. Also, hiring will see a rise in the East

and Northregions.

Sandeep Gulati, Group Managing Director of ManpowerGroup India said, “Corporate

India is all up with its expectations and hopes for 2020. Progress of technology along

with more macroeconomic stability and entrepreneur friendly schemes is certainly going

to pamper the hiring sentiments.

“While it is too early to predict the potential impact of Covid-19 on global hiring, the

reality today is that unemployment remains low in many markets and organizations

globally are still struggling to find people with the right skills," he said.

"Corporate India’s hiring intention is steady as employers open up to innovative and

flexible ways of working, collaborate with the education bodies to ensure a skilled

labour pool in the upcoming years. Currently there is a dearth of talent and companies

are ready to pay premium wages for the right talent with the appropriate skills.

Employers are also upbeat about upskilling their existing talent strength. Competency

mapping, workforce planning, learning, succession and development are some of the

favorite topics of discussion nowadays," Mr Gulati said.

"Workers want to learn more, work more and earn more. As employers it is our

responsibility to keep the momentum up by enhancing growth, additional employment,

and maximising the emerging opportunities," he added.

Sectoral Trends:

Over the last few months, there has been a transformation of the employment pattern

and the current scenario of employment in India is underway from a long-term

employment to short-term engagement. Technology is disrupting the entire ecosystem

of work and the business landscape. And companies are gradually embracing the

change.

Industry 4. technologies are changing workforce trends. Today’s digital workforce is

flexible, enabled with powerful AI driven devices that talk to each other, update

automatically and are easy to set up. On the run virtual meetings are now the basic

norm of the millennials. Evolution of workplace owes a lot to the technology

advancements.

According to survey, India’s job market, overall, looks steady when compared to the

last quarter. A growing demand for super specialized skills will rule the job market

across industries and locations. Rapid technological advancement is touching every

corner of business and companies are looking for professionals who are creative

thinkers, agile adapters and fast learners. Hiring parameters are, therefore, changing,

with increasing demand for higher calibre candidates in the lower age group to fit the

job requirements. Those with the right skills and a learning curve will remain relevant

in the world of work.

Workforce gains are anticipated in all seven industry sectors during the coming

quarter. Mining & Construction employers report the strongest hiring intentions with

a Net Employment Outlook of +16%.

Respectable payroll gains are also forecast in two sectors with Outlooks of +15% in

the Wholesale & Retail Trade sector and +13% in the Services sector. Positive hiring

opportunities are expected in the Public Administration and Education sector and the

Finance, Insurance & Real Estate sector, where Outlooks stand at +12.58% and

+11.74%, and in the Transportation & Utilities sector with an Outlook of +11.30%.

When compared with the previous quarter, hiring prospects increase by 10

percentage points in the Mining & Construction sector and are 6 percentage points

stronger in the Wholesale & Retail Trade sector. Hiring prospects have generally

improved in all the sectors.

India’s Regional Trends:

Payrolls are expected to increase in all four regions during the coming quarter.

Employers in all four regions expect to add to payrolls during the forthcoming quarter.

The strongest labor market is expected in the East, where the Net Employment

Outlook stands at +13.48%. Steady workforce gains are also forecast in all the other

three regions, North, South and West with Outlooks of +12.44%, +12.3% and +12.7%,

respectively.

Global Trends:

ManpowerGroup interviewed over 59,000 employers in 44 countries and territories to

forecast labor market activity in the second quarter of 2020. All participants were asked,

“How do you anticipate total employment at your location to change in thenext three

months as compared to the current quarter?”

The ManpowerGroup research for the second quarter of 2020 reveals that employers

expect workforce gains in 43 of 44 countries and territories surveyed in the period up to

the end of June 2020.

When compared with the previous quarter, employers in 42 out of 43 countries and

territories report stronger hiring prospects, while employers in 11 report weaker hiring

plans and no change is anticipated in 9. In a comparison with the same period last

year, hiring intentions strengthen in 15 countries and territories, but weaken in 21 and

are unchanged in 7.

The strongest hiring sentiment is reported in Croatia (+24%), Greece (+24%), Japan

(+24%) and Taiwan (+24%), while the weakest hiring activity is expected in Panama (0%),

Hong Kong (+1%), Poland (+2%), and South Africa (+2%).

Payroll gains are anticipated by all 26 employers in Europe, Middle East & Africa (EMEA)

region countries surveyed during the next three months. When compared with the first

quarter of 2020, hiring prospects improve in 15 countries but weaken in 7.

In a comparison with the second quarter of 2019, Outlooks also strengthen in 9 countries,

but decline in 12. The strongest hiring expectations for the coming quarter are reported in

Greece (+24%) and Croatia (+24%), while employers in Poland (+2%), and South Africa

(+2%) report the weakest hiring plans.

The survey was conducted between January 6 and January 28 before the global

escalation of Covid-19.

UNI BM


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