‘India most optimistic on hiring plans for Dec’
Indian employers have the strongest hiring plans when compared to their global peers for the October-December quarter of this year on hopes of a speedy economic revival, says a Manpower Group report.
New Delhi: Indian employers have the strongest hiring plans when compared to their global peers for the October-December quarter of this year on hopes of a speedy economic revival, says a Manpower Group report.
According to the Manpower Employment Outlook Survey, Indian employers anticipate a ‘vigorous’ hiring pace for the next three months with as many as 46 per cent employers planning to increase their staff strength.
Globally, fourth quarter hiring confidence is strongest in India, Taiwan and New Zealand, while the weakest forecasts are in Spain, Italy, Ireland, the Czech Republic and Finland.
"India's employers expect the optimism of a stable government to have an encouraging impact on the job market. Employers are back in the hiring mode and we're seeing evidence of their renewed optimism across all industry sectors and all regions," AG Rao, Manpower Group managing director, India said.
Various initiatives on reinforcing business efforts which the government is undertaking – such as stabilising the rupee, granting permission for new projects and encouraging the use of automation and technology in the government sector – are expected to boost the job market, the report said.
A sector-wise analysis shows that the most optimistic hiring plans are reported by employers in the services sector and the mining and construction sector, where net employment outlooks stood at 49 per cent and 47 per cent, respectively, said the survey that covered 5,287 employers across India.
From a regional perspective, employers in the Southern and Western regions anticipate the most opportunities for job seekers in the months ahead, reporting net employment outlooks of 54 per cent and 49 per cent, respectively.
Highlighting the talent shortage that the country is facing, Rao said, "A pronounced skills gap persists throughout India's labour market and the government is also focusing on skill development as a core factor while reviving the job market in India, development of vocational skills will be the key agenda."
From a global perspective, hiring plans are mostly positive, with employers in 36 of the 42 countries and territories expecting to add to their workforce in the October-December period.
Across Asia Pacific, payrolls are expected to increase in the next three months. Indian employers reported the strongest hiring plans while the weakest Asia Pacific forecast was reported in mainland China.