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India's hiring to rise 30% this year

Source: PTI
August 04, 2010 14:32 IST
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Job adsCorporate India's hiring activity is likely to increase around 30 per cent this year, with banking, information technology and fast moving consumer goods sectors leading the industry, global workforce solutions provider Kelly Services has said.

"Overall, across the main 7-8 key verticals studied by us, an average 30 per cent rise in hiring activity is likely this year as compared to the last year. Expansion plans of firms, revival in attrition rates and taking on board recruitment managers indicate a strong recruitment phase in the next six months," Kelly Services managing director Kamal Karanth told PTI.

Kelly Services on Wednesday released a study on employment conditions and salaries across key sectors, which aims to guide organisations in their workforce planning.

The Employment Outlook and Salary Guide 2010-11 revealed there is an increased demand for talent at mid-senior levels and even fresher levels, particularly in banking, IT and FMCG sectors.

"Fresh recruitments in banking and IT industry are likely to increase by 40-50 per cent this year compared to the last year, while FMCG may see a 20-30 per cent growth in hiring."

The main factors propelling the upbeat hiring sentiment include strong domestic demand coupled with country's fast economic growth as well as revival in the US economy.

Other key sectors expected to see strong hiring growth include telecom, engineering and real estate, the study said.

The study highlighted that in the banking sector there was a constant demand for banking and finance professionals and high quality customer-oriented services.

The current 'hot job' in the banking sector is that of relationship managers to provide advice and financial planning.

In the business process outsourcing sector, managers are expected to be in high demand as the focus is on process improvement and cost efficiency.

"Sales and marketing executives are likely to be in hot demand with companies across sectors want to market themselves aggressively to expand their businesses," Karanth added.

The study also stated that attrition rates across various sectors are on the rise with the revival in the job market.

The banking and IT sectors are likely to see an attrition levels of 15-16 per cent this year, while FMCG and telecom may see 10 per cent turnover rates on their large bases.

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