Moneycontrol.com
October 12, 2006

TeamLease, India's largest staffing solutions company recently released the first quarterly Employment Outlook Survey for the period October - December 2006. The survey, which tracks the hiring expectations of the private sector in India, covered 490 companies across eight cities including Delhi, Mumbai, Kolkata, Hyderabad, Bangalore, Chennai, Pune and Ahmedabad.

According to the TeamLease Employment Outlook Survey, all sectors are expected to increase their hiring activities this quarter; main drivers being the services and FMCG sectors. Retail, Media & FMCG at 95 index points, followed by IT at 94 and Financial Services 91 (retail, media, IT, financial -services).

Given that the economy is growing at over eight percent per annum, business outlook index suggests that companies in these above mentioned sectors are likely to hire at a rate which is faster than the growth of its business. The reason may be attributed to growth of the sunrise sectors. Companies covered across sectors include retail, media, FMCG, IT, financial service, infrastructure, ITeS, manufacturing and engineering.

Bangalore projects the highest Business Outlook Index point, followed by Mumbai and Delhi in the next three months with a major contribution from Retail, Media & FMCG, Infrastructure and Financial Services. Expected buoyancy in the employment market for the above sector is reflective of their more optimistic business growth projections

According to Nirupama V.G Associate Director, TeamLease, "the buoyancy in the market is incredible. Given that 10 million people will be recruited every year (as per the Planning Commission Report) this is just the tip of the ice berg and we will see an unprecedented growth in the job market in the years to come. The growth is a triad across Industry segments, Geographic Locations and varied Functions which goes to show that this time around the growth is real. "

The survey also suggests that Mumbai (98)* followed by Delhi (93)* and Bangalore (84)* have the largest employment base indicating that most of the companies would be hiring in these cities. The national average is at 80 index points which is followed by Chennai, Ahmedabad and Pune. Even cities with index points below the national average such as Kolkata reflect more companies planning to increase hiring activities as against those who are not. (* Index points)

The geographical trend projects companies favoring hires from metro and class I cities at 78%. The type of industries and the nature of job require qualified personnel largely available in urban areas. Since the report covers the organized sector, data interpretation is focused on urban centers as well.

Bulk of the recruitment will be at the junior level at 86%. Hiring trends across functions project marketing highest at 31%, followed by IT at 18%, production at 17%, finance and others (customer service, quality assurance and maintenance etc) at 11%, administration at 8% and HR at 4%.

Sourced From: Adfactors Public Relations Pvt Ltd