Employer confidence in India has never been this low since 2005, reveals survey
Jun 14, 2017, 12:17 IST
While on one hand Indian employers are expecting steady hiring outlook for the coming three months, their confidence has never been low since 2005, thanks to uncertainties in global markets, a report has revealed.
The global survey ranked Japan, Taiwan, and Hungary as countries with the strongest third-quarter hiring plans, with India getting the seventh rank with a net employment outlook of just 14%.
"In the wake of uncertainties in global markets, employers in India are adopting a wait-and-watch policy. This is probably the reason we are not seeing them commit to the same optimistic hiring plans," Manpower Group India Group Managing Director A G Rao said.
The survey was conducted over 4,910 employers across India, and the results indicate that the hiring activity might continue to be sluggish for the sixth consecutive quarter.
"It is important for Indian employers to redefine their workforce strategies and adopt innovative ways to leverage the strength of their employees and stay competitive in an increasingly volatile economy," Rao said.
Sector-wise, wholesale and retail trade, transportation and utilities and services will continue dominating the hiring graph, while manufacturing, finance, insurance and real estate and mining and construction sectors will continue being cautious.
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The global survey ranked Japan, Taiwan, and Hungary as countries with the strongest third-quarter hiring plans, with India getting the seventh rank with a net employment outlook of just 14%.
"In the wake of uncertainties in global markets, employers in India are adopting a wait-and-watch policy. This is probably the reason we are not seeing them commit to the same optimistic hiring plans," Manpower Group India Group Managing Director A G Rao said.
The survey was conducted over 4,910 employers across India, and the results indicate that the hiring activity might continue to be sluggish for the sixth consecutive quarter.
"It is important for Indian employers to redefine their workforce strategies and adopt innovative ways to leverage the strength of their employees and stay competitive in an increasingly volatile economy," Rao said.
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Sector-wise, wholesale and retail trade, transportation and utilities and services will continue dominating the hiring graph, while manufacturing, finance, insurance and real estate and mining and construction sectors will continue being cautious.