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India Inc Witnesses Stable Hiring Activity Consecutively For Last 3 Months
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Tuesday, July 10, 2012:
Hiring activity in the country has been a mixed bag with sectors such as Construction, Insurance, Oil & Gas and ITES going slow on their hiring plans, but others like Auto and Pharma continuing to hire fresh talent. IT sector which is the largest employer of skilled workforce has also slowed down their hiring plans and lateral hiring across companies has almost been brought to a halt. This has led to the overall job speak index stabilizing over the last few months.
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“Selective hiring is happening across most sectors now. However, the next few months will be challenging for the overall recruitment market in India” said Hitesh Oberoi, Managing Director and CEO, Info Edge India
Industry Sector Analysis:
Most industries have started feeling the brunt of a slowdown with sectors like Construction, ITES, Oil & Gas and Insurance witnessing a 17%, 10%, 8% and 6% dip in hiring levels in June-12 when compared to the same time a year ago. Software Services, Banking and Pharma sector however has seen their hiring levels pick up by 9%, 16% and 19% respectively in June-12 over June-11. Auto and the Heavy machinery sector has seen hiring numbers similar to what it was last year.
Functional Area Analysis:
Sales and Business Development professionals have seen a steady movement in their hiring numbers with June-12 index being 29% higher than last year. Professionals in software services and Production have witnessed 6% and 4% increase in demand in June-12 over June-11. On the contrary, professionals in BPO and Project management saw hiring levels dip by 12% respectively during the same time period. Accounts and HR professionals have not seen much movement in their recruitment levels when compared to last year.
City Wise Analysis:
Barring Hyderabad which saw a 5% dip in hiring levels in June-12 over June-11, all the other cities have seen some increase in their overall hiring activity. Both Mumbai and Chennai saw about 9% increases in their job speak index, while Delhi, Pune and Kolkata witnessed their hiring activity increase within the range of 3% and 6% respectively during the same time period.
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