|
| Recruitment firms in cautious mode |
| Vijay C Roy / New Delhi/ Chandigarh Dec 29, 2011, 00:56 IST |
|
Apprehending the situation will prevail for next four-five months, certain agencies have put expansion plans on hold.
Recruitment firms seem to be in a cautious mode after sensing economic slowdown in various sectors such as telecom, IT/BPO, banking, real estate, infrastructure, etc.
As a result, certain recruitment agencies have put their expansion plans on hold and apprehend if the situation prevails for next four-five months, many of the firms had to cut down their staff strength in order to sustain while smaller firms would have no option but to shut down their operations.
Speaking to Business Standard, Symbiosis management consultants, CEO, Vinay Grover said, “Various sectors are very cautious on hiring due to slowdown. This has restricted recruitment firms role in hiring process which has further impacted their business. Seeing the trend we are being careful, putting expansion plans on hold.”
Symbiosis, an executive-search firm with operations in Chandigarh and Delhi, has plans to increase its staff strength, which has been put on hold. Also, it has ORIGATORchaze, a executive-search vertical of Symbiosis. Origator is the Consulting vertical of Symbiosis which interlinks its expertise in services of Human Resource Consulting, Operations Consulting, Sales & Marketing Consulting, finance & cost Consulting, Integrated Management Consulting and a broad spectrum of Trainings.
He added further, " If the situation prevails for another 5-6 months, that would be blow to the recruitment firms. In that scenario many firms may have to cut down their manpower strength while small firms have no choice but resort to shut down their operations. He added that however, the hiring in Insurance, Power and Automobile sector has given respite to the recruitment firms.
Prior to 2008, when the Indian economy was on a growth path and the stock market was doing well, it gave impetus to various sectors, which further led to expand their operations and created good job opportunities.
Now, due to the slowdown, high interest rates, companies find it difficult to expand operations are either freezing fresh recruitment or cutting down their existing staff. The worst hit is telecom and BPO sector, especially recruitment firms facing tough time mainly those who deals in sectors like call sector hiring at junior level.
Echoing similar sentiments, one of the senior executive working in Ma-Foi Consultants said, " Its true that vacancies has been freezed in certain sector but we expects that things will improve by March." He mentioned that so far they have not witnessed any problems, but going forward, if the crisis continues, they may consider options.
Insider mentioned that freshers are the worst hit, as jobs at the middle and higher level are still safe to some extent.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
