EFY Times.com
January 15, 2007

Bengaluru continues to be the most favourite destination of jobseekers. 2007 to be a better year than 2006.

Monday, January 15, 2007: TeamLease Services Pvt. Ltd., a staffing solutions company, has released its second quarterly employment outlook report for the period between January–March 2007. According to the report, the ITeS sector continues to be bullish with a sharp increase of 11 per cent in hiring over last quarter followed by financial services and IT.

According to the TeamLease report, Bengaluru consistently remains the favourite destination for jobseekers with a sharp net increase in hiring at 7 per cent and IT with ITeS remaining the major contributor.

There is also a net employment increase in destinations including Hyderabad and Pune at 4 per cent and 2 per cent, respectively. On the other hand, manufacturing sector is the major contributor for employment growth in Mumbai, Pune, Ahmedabad and Kolkata. Financial Services sector is second major contributor of employment growth for the cities of Mumbai and Kolkata.

According to the TeamLease report, there is a sharp 6 per cent increase in the business outlook over last quarter, with the current index point touching 91. However the overall employment outlook for quarter 2 remains consistent at 81 index points.

The sharpest net increase in business outlook growth over last quarter has been in Kolkata at 13 per cent followed by Pune at 9 per cent, Ahmedabad 8 per cent, Chennai at 7 per cent, Hyderabad and Delhi at 6 per cent. The sectors that indicate an increase in business outlook include IT, ITeS and manufacturing.

The TeamLease report suggests that the employment scenario remains positive for metro and class I city hires which is at 96 per cent. Besides, 87 per cent of companies intend to hire at a junior levels whilst middle management hiring is favoured by 1/4th of the companies.

The Year 2007 is expected to have greater buoyancy than what it was in 2006. Organisations need to gear up in providing adequate training, retaining manpower, working long term compensation plans, constantly redefine the dynamic work cultures, shadow hunting and honing of skills; those will be the order of the day, the report says.