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October 09, 2007 18:51 IST
India Inc, which was bullish on hiring during the first three quarters plans to go slow on recruitment in the last quarter of this year, as per a recent survey.
The net employment outlook index points of 78 per cent down six per cent over the last quarter and net business outlook of 81 per cent for the quarter beginning October is the lowest among all the four quarters in the current calendar year, a report by temp staffing company TeamLease said
"The margins in the IT sector already under pressure over last few quarters, coupled with unprecedented appreciation of the rupee and the cost of HR capital in the IT sector being the highest at about 40 per cent, has adversely impacted hiring," TeamLease Services Pvt Ltd, Vice President, Sampath Shetty said.
However, HR management coming in good use has the IT sector rationalising the workforce to optimal resourcefulness, Shetty added.
While employment outlook will remain positive in the ITeS, telecom and manufacturing sectors, a marginal decline would be noted in the hirings for IT, retail, financial services', media, FMCG and infrastructure sectors, the survey said.
"The US sub prime fiasco has cautioned the banking, financial services and insurance (BFSI) sector market approach
in terms of market penetration and future hiring," Shetty said.
Insurance sector would show positive hiring trends over next two quarters whereas the hirings in manufacturing sector would continue to be stable, the survey said.
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