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India Inc hiring sentiment improved for Q3, FY12: Survey

India Inc hiring sentiment improved for Q3, FY12: Survey
PTI
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First Published: Fri, Sep 16 2011. 02 37 PM IST
Updated: Fri, Sep 16 2011. 02 37 PM IST
New Delhi: Indian employers are more upbeat about hiring during the October-December quarter of FY12 than they were in the third quarter a year ago, says a survey by MyHiringClub.com.
The country’s net employment outlook -- an indicator of recruitment intentions -- stood at 27% for the third quarter of FY12.
On a quarter-on-quarter basis, the outlook has improved by a moderate 9 percentage points, although it was better by a considerable 12 percentage points year-on-year.
The survey, which was conducted among nearly 2,600 employers, said that all nine sectors and all four regions of the country had positive hiring plans for the third quarter of FY12, though the employment outlook for some sectors has declined vis-a-vis the year-ago period.
“Overall hiring activity is expected to be good in some industries, the infrastructure sector is doing robust hiring and they have plans for robust hiring activity in Q3, FY12, also.
“The IT and ITes sectors are still in wait-and-watch mode, because they don’t want to incur more expenses in the current global scenario,” MyHiringClub.com CEO Rajesh Kumar said.
The report said the infrastructure sector has the most bullish hiring plans, with a net employment outlook of an impressive 21% for the October-December period of 2011.
This is 27 percentage points higher than the sectors’ net employment outlook for the third quarter of FY11.
Similarly, in the FMCG sector, the net employment outlook stood at 19% for Q3 of FY12, 10 percentage points higher in comparison to the year-ago period.
The FMCG sector was followed by the banking and financial services industry in terms of hiring optimism. Banking and financial services firms had a net employment outlook of 18% for the October-December period of 2011.
The net employment outlook was more conservative in the case of the retail (14%), telecom (14%), automobile and manufacturing (11%) and business services (8%) sectors.
The weakest hiring outlook was seen in the IT and ITes (5%) and real estate sectors (4%), the survey noted.
A region-wise analysis of employers in all four regions predicted a strong labour market in the third quarter of FY12, with the most optimistic forecast for the south, where the net employment outlook stood at 29%, 17 percentage points higher in comparison to the third quarter of FY11.
The net employment outlook of the northern, eastern and western regions was also robust, at 26%, 23% and 22%, respectively.
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First Published: Fri, Sep 16 2011. 02 37 PM IST
More Topics: Hiring | Employment | Recruitment | Survey | IT |