Even as most analysts are saying the worst of the economic downturn is over, a survey by the PHD Chamber of Commerce reveals only 30 per cent of the respondents plan to increase their hiring activity.
The survey had 186 responses from various companies.
The positive feature from the survey is that the demand for both mid and entry-level recruitments has risen, as compared to the situation six months earlier, indicating that companies across various segments plan to expand operations in the near future.
Respondents were optimistic that the global economy will gather steam in the coming months, leading to an increase in orders from the US and the EU and so, more job opportunities.
The reasons for low or no hiring by 70 per cent of the respondents are varied.
Some said they did not lay off many people during the downturn and hence they were not contemplating hiring in large numbers.
Another reason cited was a wait for the economy to return to a high-growth trajectory experienced during the pre-downturn period.
"There is a need for effective skill development measures on a priority basis to equip the workforce with the requisite expertise which is in tune with industry requirements.
"There is also need to undertake reforms in the education sector to ensure that workers are provided appropriate skill sets," said Satish Bagrodia, president of the chamber.
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I am quit agree with this survey, because as per my experiance still most of the companies are following conservative approch in hiring, either they want to continue with their same manpower force or they are not sure with the current market situation that it is actually improved.
ReplyDeleteEconomic downturn ? I think it must have taught us a lot of things, I think one of the most worrying matter of economic downturn was the lay offs. It was really a set back for all of us. Listening about so many people who lost their jobs was really not easy to accept. The companies should learn and understand to recruit people so that such situations do not arise.
ReplyDeleteThe most common problems in the time of “the so called boom” is that the business houses do not think too much for recruitment when they get business. A steep rise in the growth of business also gives a steep fall in the business. So the business houses should try to have a stable growth and should avoid the attracting fruits of Economic Boom or should carry out a systematic planning of activities, this is generally missing
As we know in the boom time companies daily we use to see that the companies were recruiting in the thousands, recruit people by giving them unreasonable hikes.
It’s really good to know that 30% of the companies have started hiring, may be these were the companies who have opted for lay offs. But still it seems that growth has not yet come as still all the sectors and companies have not started recruitment. People still have the fear and uncertainty for the market recovery. Hoping for a lot of business to come and a lot of recruitment and job opportunities for all of us.