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Indian job market shows signs of improvement

Source: PTI
June 04, 2013 18:41 IST
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The Indian professional job market has improved since the start of this year, with 59 per cent of Indian companies are currently recruiting at senior level, up 19 per cent over the beginning of the year, a survey says.

According to multi-national recruitment firm Antal International's Antal Global Snapshot' survey, employment trends has found that the professional job market in India as well as globally has improved since the start of 2013.

The percentage of Indian companies recruiting at managerial and professional level has increased by 19 per cent and now stands at 59 per cent. This is a real improvement on the 43 per cent of companies that were expecting to hire in the previous survey.

This optimism is predicted to continue, with 65 per cent intending to hire at this level within the next three months, according to the survey.

Meanwhile, figures for firing trends, however, are up on the previous survey from 20 per cent to 28 per cent of companies letting people go. Around 26 per cent of businesses expect to see redundancies at senior levels go in the next three months, the survey added.

"With the global economy showing sporadic signs of improvement, it's encouraging that levels of managerial and professional recruitment have begun to creep up on those registered in the last editions of the Snapshot," Antal's CEO Tony Goodwin said.

With the global economy showing sporadic signs of improvement, the levels of managerial and professional recruitment have begun to creep up, Antal said.

Compared to a rather low level of hiring activity at the beginning of the year (46 per cent), an encouraging 54 per cent of respondents are currently hiring, the survey that covered almost 10,000 firms in major markets like western and eastern Europe, Africa, India, China and the US said.

"...having gone through an elongated period of doing more for less, many businesses are keen to refresh their senior level talent pipelines and gain further competitive advantages with new skills," Goodwin said

He added that "it will be interesting to see how these figures compare in the next quarter, but for now it seems a positive future could be on the cards."

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