Click to play videoMumbai: There seems to be a noticeable shift in the hiring trends in the Indian job market—six of the seven sectors surveyed show a slowdown in hiring tendencies as compared to the last quarter.
Finance, insurance and real estate companies were largest recruiters in the last quarter, but not any more.
The latest 'manpower employment survey' reveals that only 39 per cent of these firms will be increasing staff in the first quarter next year. This amounts to 11 per cent lesser than the last quarter.
While the hiring pace has gone down by eight per cent in the wholesale and retail sector in the same period, the manufacturing sector also forecasts a dip of three per cent in its recruitments when compared to last quarter.
As for the service sector firms, they too will see a marginal decrease in their hiring plans. But experts say there is not much to worry about.
"I would really not be concerned with a fluctuation of this kind unless ofcourse it comes down to single or low double digits or for that matter falls into the negative sceneario," says Executive Chairman, Manpower India, Soumen Basu.
The number of firms that will hire in the first quarter has gone up by 12 per cent as compared to the first quarter of 2006.
Experts say firms normally go slow on their hiring plans in the first quarter. Still, 41 per cent of the 5,000 firms surveyed say they will increase their payrolls in the coming quarter.
(With Anumeet Kaur Bedi in New Delhi)
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