The proportion of companies recruiting at managerial and professional level has contracted by over a third, said a study by Antal International. The global recruitment firm's Global Snapshot- a major survey of employment trends around the globe has found the percentage of Indian companies recruiting is much lower than its peers globally.
The survey said that the percentage of employers in India currently hiring for managerial and professional positions now stands at 40%, which is 7% below the global average. It added that although this is the lowest level in Asia, the signs are positive that this figure will climb to 43% in the near future.
"The results of the latest Snapshot indicate greater stability throughout the international staffing sector. Despite a consistent decline in the percentage of companies hiring, a steady fall in the percentage of organisations shedding staff - down from 20% in April to 18% in August and just 16% in December- infers that workforces are stabilising and offering more in the way of long-term security to employees," said Antal’s CEO, Tony Goodwin.
However, the survey reflected that some sectors are performing particularly well and recruitment within white-collar professions is showing greater levels of activity.
"Within financial services, 67% of companies are currently hiring for accounting roles and the same percentage of employers are looking for senior staff to work in banking," the study said.
Although overall hiring is down, the percentage of businesses that are letting staff go has dropped slightly – from 23% to 20%, which suggests the beginning of a more settled job market.
The ‘Global Snapshot’ project from Antal International, asked almost 17,000 organisations in major markets across 52 countries whether they were currently recruiting or letting staff go at a managerial and professional level and whether they intended to do so over the coming quarter.