MUMBAI: Despite a slowing economy a majority of the businesses across India Inc have decided to hire in the forthcoming quarter, according to a study released by a recruitment firm. The Teamlease employment outlook for the quarter October - December 2012 said that hiring sentiment has registered a 3 point increase indicating a positive outlook for the upcoming quarter. From a sector perspective, retail, healthcare and pharma have registered an increase of 3 and 2 points respectively, resulting in the overall improvement in hiring sentiments.
On Friday last week, the indian cabinet allowed 51% foreign investment in multi-brand retail and 49% FDI in the aviation sector.
This move along with the diesel price hike last week brought about some cheer among corporate India.
The report forecasts a surge in the entry and junior level hiring. Though there is an increase in entry level hiring, companies are quite apprehensive about campus placements, Teamlease said. According to the report,most of the large companies, especially IT MNCs, are stressing on off campus placements to fulfill their talent requirement as it significantly reduces the waiting period.
Sangeeta Lala, Senior Vice-President & Co-Founder, Teamlease Services, said "While the previous quarter witnessed non-uniformity in the employment outlook, the current quarter seems to provide a slightly different view. Business optimism has surely lost some of its sheen, but hiring has not reduced significantly. Job creation in India continues amid talks of lay-offs and employee rationalization. Sector-specific trends could be attributed to this overall increase."
Teamlease releases the employment outlook report every quarter after a survey conducted among HR managers and senior managements of leading companies in India.
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