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Nearly a million jobs to be created in 2010-11: Ma Foi

Nearly a million jobs to be created in 2010-11: Ma Foi
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First Published: Thu, Mar 11 2010. 12 03 AM IST

Graphic: Paras Jain/Mint
Graphic: Paras Jain/Mint
Updated: Thu, Mar 11 2010. 12 03 AM IST
Bangalore: India would see nearly a million jobs created in 2010-11, 35% more than in the current fiscal year, says a survey by human resources firm Ma Foi Management Consultants Ltd.
The annual Ma Foi Employment Trends Survey, released on Wednesday, predicts healthcare and pharma firms would lead the hiring, adding 295,000 jobs to their existing workforce of 3.37 million.
Graphic: Paras Jain/Mint
The hospitality and travel sector would add 137,000 jobs to an employee base of nearly six million, followed by real estate and construction that would add 136,000 people to its work force of 730,000, the survey estimates. The information technology (IT) and information technology-enabled services (ITeS) sector is seen adding only 97,000 jobs to its base of 1.8 million.
Ma Foi, a unit of Dutch human resources firm Randstad Holding NV, surveyed chief executives or human resources heads at 1,000 companies across sectors in India.
Hiring, however, will gain traction only in the second quarter of 2010-11 as companies are still cautious about the economic recovery, said E. Balaji, chief executive of the Indian arm of Ma Foi.
India’s economy is estimated to grow at 7.2% in 2009-10 and at 8.5% in 2010-11. It grew at 6.8% in 2008-09.
“Companies will pick up in hiring in May-June. People will wait to see the first quarter performance,” said Madhavi Lall, human resources head for India and South Asia at British bank Standard Chartered Plc.
The bank plans to add 2,500 people in India in 2010, on a par with its additions in 2009.
Sectors such as education, training and consultancy are expected to add 83,000 jobs in 2010-11, followed by manufacturing with 68,000, banking, financial services and insurance with 46,000, transport, storage and communication with 27,000, energy generation and supply with 15,000, and trade with 13,000, as per the survey.
On Tuesday, Manpower Inc. forecast brisk hiring in the April-June quarter, India topping the 36 countries surveyed.
The number of organized temporary jobs is estimated to grow 18% quarter-on-quarter in the first three months of fiscal 2010-11, up from a 11-14% rise in the January-March period, says staffing firm Teamlease Services Pvt. Ltd’s survey released on Wednesday.
The Teamlease Annual Temp Salary Primer 2010 predicts wage increases of 7.25-15% in the coming fiscal year, up from an average increase of 5.25% in 2009-10.
poornima.m@livemint.com
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First Published: Thu, Mar 11 2010. 12 03 AM IST