City saw highest attrition rates last quarter

During the past three months, Bangalore and Hyderabad had seen the highest attrition rates in the country. During the past year, Bangalore, Hyderabad and Chennai had higher attrition rates than other cities. This was one of the finding of the Employment Outlook Report for the period April to June 2009 released by TeamLease Services Private Limited.

In Bangalore, ITeS lead in employment growth and it was followed by the health sector. On the other hand, financial services sector saw a negative growth in the city.

According to Surabhi Mathur-Gandhi, general manager, TeamLease Services Pvt Ltd, “Nobody can question the downward trend in growth and expansion plans across sectors like financial services, ITeS, retail, FMCG, manufacturing, engineering and IT. But while we can’t say the bottom is behind us, the outlook is clearly better than last time. The long term view of India becoming a more attractive investment destination stands but we will need a few more quarters to validate a turn to job creation.”

The report goes on to show that while there has been a fall in employment and business outlook for the current quarter, the fall is still lesser when compared to the previous quarter, hinting at some form of recovery in the economy. While it is too early to predict, the report suggests that the increase in business outlook in some cities are an indication of positive times to come.”

TeamLease releases the Employment Outlook Report every quarter after a survey administered to the HR heads, CEOs and senior management of leading companies in India. The study focuses on employment growth potential, business outlook and hiring forecasts.

with relation to the location and the company profile. This report serves as a reference manual to corporate houses to understand the employment trend in the present market scenario at major cities across the country.