Product Type: Market Research Report
Published by: India Today Group Digital
Published: November 2008
Product Code: R3566-28Description The job market has taken the biggest downturn in the past eight quarters. The focus has shifted towards improving productivity of employees in order to remain competitive, rather than on increasing staff strength. Employers are in the wait’n’watch mode. The result: hiring activity is likely to be sluggish in most sectors—IT, infrastructure, retail, FMCG & media, financial services, telecom and manufacturing & engineering.Table of Contents
1. Infrastructure holds ground: Telecom, along with the retail, media & FMCG sector, leads the downward spiral. There will be fewer jobs in manufacturing and engineering, financial services, infrastructure and IT. ITES is the only sector that has bucked the trend, but the financial crisis in the US and Europe could dampen the positive sentiment…
2. Business vs jobs: The hiring outlook for cities across the spectrum has taken a beating. The survey puts Job Outlook for Mumbai at 60 index points, down 15 points compared to the previous quarter. Ahmedabad, Bangalore and Delhi see a dip in the fortunes with the cities posting declines of 40, 16 and 10 index points, respectively…
3. Setback for Tier-II cities: The metros continue to corner most jobs created, and Tier-I and Tier-II cities have lost ground. The intention to hire in Tier-I and Tier-II cities has dropped six and seven points, respectively, in the survey. Tier-I cities are largely considered the growth centres for the BPO industry…
4. Future Tense for Business: It is a mixed bag and the impact of the global financial crisis is not yet fully visible. Covergys has 35-40 per cent of its revenues coming from financial services companies in the US and the UK…
5. Freshers’ Loss Is Others’ Gain: Recruitments across sectors have slipped; so has the intention to hire across levels. Middle-level hirings are slated to decline by 17 index points while the intention to hire at the junior level has gone down by 8 index points…
6. The Road Ahead: Given its economic integration with the world economy, it’s unlikely that India can remain immune to the global financial crisis. However, the intensity and timing of the impact will widely vary from one industry to another…
7. Methodology
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