Hiring sentiment is expected to improve incrementally over the next six months, to be largely driven by an increase in government spending and stable hiring growth exhibited by a few sectors and cities, a report says.
According to TeamLease Services Employment Outlook Report, the net employment outlook for the coming six months (October 2017-March 2018) will see an incremental increase of 2 percentage points.
According to the report, six of the 18 sectors surveyed have indicated positive hiring sentiment. The financial services industry alone is expected to see a 3 percentage point rise in employment outlook.
The other key sectors seen to experience positive hiring intent are Knowledge Process Outsourcing and Health and Pharmaceuticals.
In contrast, the laggards in the coming half year would be construction and real estate, agriculture and agrochemical and travel and hospitality respectively, the report stated.
The report further noted that hiring sentiment continues to be positive among large businesses while small businesses remain pessimistic.
"The modest pace at which the hiring sentiment is growing seems to indicate a steadier and stable recovery rather than a temporary spike. In fact, most of the profiles that companies are adding are not just to address the short-term requirement, but to build capabilities indicating the good tidings are here to stay," said Rituparna Chakraborty, co-founder and Executive Vice-President, TeamLease Services.
From a hierarchical perspective, mid-level hiring — which had taken a beating in the previous half year — is expected to pick up in coming months.
The bi-annual report provides a comprehensive overview of the mechanics of hiring, job growth, salaries and their drivers for the period October 2017 to March 2018.
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