Employment outlook in Kolkata bullish in downturn: TeamLease

Among the Indian cities, the employment outlook index points of Kolkata has increased the most by 13 points, while Pune shows the maximum dip by almost 65 points, says the  'Employment Outlook Report:April - June 2009' by TeamLease Services.

The report also shows that the current Employment Outlook index has dipped by 10 index points and stands at 24. It had dipped by 30 points in the previous quarter (Jan – Mar 2009). Also the current Business Outlook index has dipped by eight index points and stands at two,  while it had dipped by 50 points in the previous quarter.

Among the cities, Delhi, Hyderabad and Pune have recorded maximum decline in employment outlook index. And among the sectors covered, there is a decrease in index points of all sectors except Infrastructure. Financial Services (with 40 points) has the highest index points followed by Telecom (with 39 points). 

The report indicates that there is a decrease in the intention to hire at all Managerial levels and also that there is steady increase in the intention to hire across most Functions except for Production, Finance and Administration.

During the past three months, Hyderabad and Bangalore had the highest attrition rates compared to other cities. Ahmedabad had the lowest attrition rate at 3 per cent in last three months and 4 per cent in the last one year. The attrition rate was less than 15 per cent for all the sectors during the past three months. Over the one year period, the attrition rate for Health was 16 per cent and less than 15 per cent for the other sectors.

“The survey results are bittersweet. Nobody can question the downward trend in growth and expansion plans across sectors like Financial Services, ITeS, Retail, FMCG, Manufacturing, Engineering, IT. But while we can’t say that 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 from job destruction to job creation”, Surabhi Mathur-Gandhi, general manager, TeamLease Services said.