Indian employers expect steady hiring
outlook for next three months, but their confidence has dipped to the least optimistic level since 2005 amid uncertainties in global markets, says a report.
Globally, the strongest third-quarter hiring
plans were reported in Japan, Taiwan, Hungary, while India
was ranked at the seventh place with a net employment
outlook of just 14 per cent.
"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," ManpowerGroup India
Group Managing Director A G Rao said.
The survey of 4,910 employers across India
indicated that the hiring
activity is expected to slow for the sixth consecutive quarter.
Rao noted that technology
has restructured the way the world functions and organisations are embracing these technologies based on changing business requirements.
"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.
is primarily driven by sectors such as wholesale and retail trade, transportation, utilities and services where employer hiring
sentiment appears to be better.
The most cautious outlook for the next three months was reported by manufacturing, finance, insurance and real estate and mining and construction sectors.
The strongest labour
market is forecast in the south, where the net employment
outlook stood at 21 per cent. Employers in the north reported steady hiring
intentions with an outlook of 15 per cent, while outlooks of 10 per cent and 9 per cent were reported in the west and the east, respectively.
Meanwhile, an overview of the global results indicated that employer confidence is similar to that reported in the second quarter with the majority of respondents' content to either retain current staff or grow payrolls marginally as they await more definitive signals from the marketplace, the report added.