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Privately held businesses bullish on hiring: Thornton

Privately held businesses bullish on hiring: Thornton
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First Published: Sun, Aug 17 2008. 03 03 PM IST
Updated: Sun, Aug 17 2008. 03 03 PM IST
PTI
New Delhi: Country’s privately held businesses are still bullish about their hiring plans as around 74% expect a growth in employment rate this year, even as the global recruitment drive has suffered a downtrend, a latest survey said.
“Whilst expected growth in employment globally has fallen from 45% in 2007 to 33%, this year, it has remained level in India (74%),” according to a recent report prepared by advisory firm Grant Thornton India.
The optimism shown by the industry assumes significance as the actual reported employment growth in India was marginally lower than expected in 2007, in line with the global trend.
The International Business Report examines the attitudes, plans and trends of 7,800 privately held businesses in 34 economies.
Interestingly, availability of a skilled workforce was also cited as one of the major constraint by most businesses (38%) in the country that restricts their expansion plans.
Grant Thornton in the International Business Report (IBR) further said business houses now a days are more focused on retention than those one year ago.
As many as 71% of Indian businesses ensure that all employees understand the company’s core values, mission and goals to aid recruitment or retention.
Besides, increased operating costs due to staff retention issues have created roadblocks according to 33% of respondents of the survey.
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First Published: Sun, Aug 17 2008. 03 03 PM IST