India Inc steps up recruitment; 71% cos currently hiring

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A quarterly survey of global hiring and firing trends by recruitment firm Antal has found that employment levels in India have increased significantly since September last year. They are now among the highest in the world. About 71% respondents say they were currently hiring compared to around half in September.

India Inc plans to increase hiring activity even further. About 78% respondents expect to hire managerial staff over the next three months. If you combine this data with the very low retrenchment rate of 16%, which is set to drop to 13%, the results indicates a strong employment market.

This Global Snapshot' surveyed more than 6,000 organisations in 30 countries on whether they were currently hiring and firing at the professional and managerial level.  The only country to have a higher rate of hiring was Nigeria.

"Confidence is back at its peak in the Indian job markets, its happy days again for job seekers." says Joseph Devasia, Managing Partner, Antal International. "Manufacturing and auto along with the traditional IT, FMCG, pharma companies have ramped up hiring, as against what we witnessed in our previous survey. Increased hiring indicates that the need for exceptional talent is now ever more."

Asia a mixed bag:
India's neighbours -- China and Pakistan -- have high rates of hiring, at 71% and 70% respectively. However, China predicts an increase in recruitment activity, while Pakistan forecasts a drop of 25%. Around half of the companies in the Philippines are currently hiring. The good news is that recruitment is expected to improve in both countries over the next quarter.

Global picture:
Tony Goodwin, CEO, Antal, says, "Although a few countries are still seeing a decline in the employment market, the global picture has definitely improved once again." He reiterated his September stance that the market is not out of the woods as yet and there may be more unpleasant economic surprises to come.

The good news, he says, is that organisations of all sizes are approaching 2010 with more confidence than would have seemed possible in the very dark days of January 2009. He sees the first signs of organisations thinking in terms of the 'war for talent' once more with more robust businesses making early moves to snap up the best people in their markets before the general recovery becomes too apparent.

To view complete survey findings, please check the attached PDF