Post-slump, hiring plans of corporate India is at its best for the current July-September quarter, driven by infrastructure, manufacturing and telecom sectors, said the latest employment outlook report by recruitment firm TeamLease.
According to the study, hiring sentiment is at an 18- month high for the July-September quarter. The net employment outlook index saw a six per cent jump to 64 index points for the reviewed three- month period compared to the previous quarter.
According to the report, barring healthcare and pharma sectors, all other segments are upbeat about their hiring plans.
Hiring sentiment is highest in the infrastructure sector with a 21 per cent increase, followed by manufacturing and engineering & telecom sectors with 13 per cent and 11 per cent increases, respectively.
Among cities, Delhi has the highest hiring sentiment with a 19 per cent increase in the index, followed by Mumbai and Ahmedabad with 14 per cent increases each. However, hiring sentiments is seen in the negative zone in Chennai and Kolkata.
Interestingly, Tier-II cities have experienced a significant increase (three per cent) in hiring intent to 19 per cent, indicative of the talent supply potential of these geographies.
After being the most neglected zones by potential employers, the junior and entry-level zones are now finding favouring with employers.
Hiring at the junior and entrylevels of organisational hierarchy are set to make a strong comeback with 17 per cent and 11 per cent increases in hiring intent (respectively), which was worst hit and remained stagnant for the past 24 years, the report said.
This, however, has cut significantly into mid-and senior-level hiring and demand in this segment is seen to be decreasing.
According to the report the number of companies in the 'Not Hiring' category has dipped to a 12- month low of 12 per cent.
This is a drop of eight per cent. Sales, marketing and customer care have registered the highest increase of eight per cent among functional areas.
"We are seeing positive hiring intentions over the past few months, and are expecting this to continue. There is also a gradual increase in the intent to hire from Tier-II cities, which shows that companies are looking well beyond urban markets for tapping talent," Sangeeta Lala, vice president, TeamLease Services, said.
"This is also an indicator of consistent and steady growth across business size, sectors and geographies. The opportunities in Tier-II cities are encouraging and might be an answer to the geographic mismatch present in the country," she added.
TeamLease's Business Outlook Index also rose by five per cent to 61 index points. However, it has doubled itself over the course of four quarters.
The study, which covered 568 companies, focused on employment growth potential, business outlook and hiring forecasts in relation to location and company profile.
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