Employment Outlook Report 2014
The Apr’14–Sep’14 HY sees a sentiment boost with upbeat organizations expecting business (outlook sentiment grew 4%) and employment (outlook sentiment grew 5%) to grow at a brisk pace. Reason for this optimistic outlook includes the results of the impending elections and fresh sector specific policies a new regime is expected to usher in.
Top gaining cities in employment outlook trends include Mumbai (up 4%), Bangalore (5%) and Ahmedabad (4%) while Delhi (4%) is projected to have an upswing in its business outlook trend. Losers include Kolkata and Chennai (both down 1% on employment outlook), Hyderabad (down 2% on employment outlook) and Pune/Chennai (down 2% on Business Outlook).
Healthcare & Pharmaceuticals (up 5% and 4% on Employment and Business Outlook, respectively) and Financial Services (up 4% and 5%) lead growth across both the trends. Infrastructure would witness a significant rise (4%) in its business outlook. ITeS stands to lose quite significantly (4%) on business outlook.
Hiring across entry and junior levels of hierarchy is going to pick up (moderately: 2% and 3% respectively). A lot of the functional areas report growth in their respective intent; with hot favourites being Sales/Marketing/Customer Service (up 5%) and Engineering (up 4%). Across most geographic levels, the growth in hiring intent is incremental.
Top three sectors (by city) in terms of employment outlook growth are -
- Mumbai: Telecom (3%) / Healthcare & Pharma (2%) / Financial Services, IT (1% each)
- Delhi: Infrastructure,Manufacturing & Engineering,Healthcare &Pharma (2% each)
- Bangalore: IT (3%) / Financial Services, Infrastructure, Healthcare &Pharma, Telecom (2% each)
- Chennai: IT, Retail & FMCG, Manufacturing & Engineering (2% each)
- Kolkata: Manufacturing & Engineering (2%) / Retail & FMCG, IT (1% each)
- Pune : Infrastructure (2%) / Healthcare & Pharma, Financial Services(1% each)
- Hyderabad: ITeS, Retail & FMCG, Healthcare & Pharma(1% each)
- Ahmedabad: IT (3%) / Retail & FMCG, Infrastructure (2% each)
Depth Surveys point to a few, rather peripheral, reasons for attrition emerging on the mainstream scene. More organizations are opening up to attributing terminated wrong-fit engagements to attrition. On a positive note, business growth – some of which is attributable to an anticipated GDP growth – is expected to significantly drive hiring activity.
Business outlook in the infrastructure sector is projected to increase by a substantial rate in the coming six months. This is in line with our literature research that also points towards a good business growth in this year. It also reveals that hiring is expected to increase during this year.