With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said on Monday.
The year 2009, was one of the worst years in terms of job market as terms such as 'layoffs', 'pink-slips', 'right sizing' became hot topics in household discussions.
Wide availability of talent and cost advantage has helped India emerge as a 'skill hub' not only for back-office jobs but also global functional roles, says an international recruitment firm.
Jobs are back and India Inc is witnessing an upsurge of 15 per cent in hiring trend, thanks to the improving economic climate. However, experts say it is too early to say that the situation has returned back to 'normalcy'.
There has been an upsurge in hiring of Non-Resident Indians and expats by companies in the country in the past two years, thanks to improved infrastructure and competitive compensation levels, experts say.
While the reason for this may be genuine concern for the environment in the case of some firms, others may have gone ahead with the exercise simply to be branded as 'green' firms.
Adapting to the new hybrid normal of remote and office work, cautiously optimistic corporate are looking to hire more people and provide better appraisals in the new year as they step out of the pandemic-ravaged 2020. The coronavirus pandemic emerged as the biggest inflection point for the Indian job landscape. For the corporates, work-from-home and remote workers became the new normal and for the professionals, online learning and digital skills took centrestage.
Integration of workforce has been a thorny issue and a cause of litigation and strikes.
When it comes to rewarding top- performing employees, many large corporates are giving out expensive gifts such as latest iPhones, Mercs, flats and jewellery
HR experts believe however that times are changing and more and more companies are planning a revamp of their appraisal systems
Improving economy and investment in Indian carriers and hotels by global companies is likely to lead to hiring for aviation and hospitality sectors witnessing up to 40 per cent growth in 2015, according to experts.
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A stumbling economy, a falling currency and high inflation, plus weak consumer demand, mean more and more become excess baggage.
Some leading private and foreign banks in the country have started checking scores of credit information companies such as Credit Information Bureau Ltd as part of their pre-employment screening process.
Companies have also managed to find talent created by frequent exits.
It's aimed at new-age sectors like e-commerce and other startups so that they can spend less time in their recruitment processes
With future prospects being difficult to predict, hiring for a short period is proving to be cost-effective
Indian telecom seems to be getting back on its feet.
Campus placements are already in full-swing and hiring plans of many companies, whose expansion plans were stuck due to policy paralysis, are now getting green signals.
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