After months in firing range, India Inc now out to hire
The Economic Times, August 13, 2009, Page 1
Multiple Surveys Reveal Companies Across Sectors, Cities Gearing Up To Recruit More In Coming Months
Mahima Puri & Shreya Biswas NEW DELHI
INDIA Inc is hiring again. After months of rigorous cost cutting characterised by recruitment freezes and layoffs, several Indian employers are looking to increase hiring in the coming months, according to different su
rveys. The Economic Times surveyed select listed companies across sectors such as telecom, infrastructure, consumer goods, auto, pharma, technology and power, and all the respondents said they plan to increase their headcount in the next 3-6 months. Companies notably planning to increase hiring include Infosys Technologies, Maruti Suzuki, Lupin Pharmaceuticals and Standard Chartered Bank. A larger survey by job portal TimesJobs.com noted an upswing in hiring sentiment among Indian companies. The survey, which polled 5,000 companies across sectors in Indian metros, showed that almost half the respondents from Delhi and Mumbai are planning to increase hiring in the current quarter. Even IT capital Bangalore seems to be returning to normalcy after witnessing mass layoffs in the last quarter of 2008, with one-fourth of the firms planning to increase headcount this quarter. Of these firms, 52% said they are undertaking replacement hiring. Four-fifths of the firms in Delhi and 57% recruiters in Mumbai are hiring to ramp up for growth, said the survey conducted by TJ InSite, the research wing of TimesJobs.com. The results show that corporate India is upbeat about the economy in spite of the looming threat of a drought due to the truant monsoon and swine flu fears that have created panic in several cities. “Swine flu is not a pandemic yet; unless it goes to such proportions, there will be no impact on the job market,” says Sunit Mehra, managing partner of executive search company Hunt Partners. Though these concerns remain, India Inc’s general mood is optimistic, with the feeling that economic recovery has well and truly started gaining traction across sectors. July’s robust car sales and industrial production figures for June bear out this optimism. Globally too, the signs are encouraging, with a lower-than-expected decline in US economic growth for the June quarter and a rebound of the South Korean economy. “The quarter-on-quarter growth that India Inc has witnessed both in terms of revenues and profits, and the continuation of government stability, policies and commitments have brought a more optimistic business forecast for organisations,” said Vivek Madhukar, vicepresident of TimesJobs.com. The TimesJobs survey covered sectors such as IT, BPO & ITeS, engineering, logistics, healthcare, architecture, hospitality, travel & tourism, finance & accounting and sales & marketing. India’s largest carmaker, Maruti Suzuki, which hired 300 professionals from engineering and management campuses last year, plans to take the strength of its engineers in R&D to 1,000 by April next from around 730 now. Drugmaker Lupin, which has over 50% of its employees in India, plans to add up to 1,000 people, including medical representatives, R&D professionals, IP managers and clinical researchers, this financial year. “Healthcare not being a discretionary spend, the industry has largely been insulated from the economic slowdown,” explains Lupin Pharma president-HR, Divakar Kaza.
The Economic Times, August 13, 2009, Page 1
Multiple Surveys Reveal Companies Across Sectors, Cities Gearing Up To Recruit More In Coming Months
Mahima Puri & Shreya Biswas NEW DELHI
INDIA Inc is hiring again. After months of rigorous cost cutting characterised by recruitment freezes and layoffs, several Indian employers are looking to increase hiring in the coming months, according to different su
rveys. The Economic Times surveyed select listed companies across sectors such as telecom, infrastructure, consumer goods, auto, pharma, technology and power, and all the respondents said they plan to increase their headcount in the next 3-6 months. Companies notably planning to increase hiring include Infosys Technologies, Maruti Suzuki, Lupin Pharmaceuticals and Standard Chartered Bank. A larger survey by job portal TimesJobs.com noted an upswing in hiring sentiment among Indian companies. The survey, which polled 5,000 companies across sectors in Indian metros, showed that almost half the respondents from Delhi and Mumbai are planning to increase hiring in the current quarter. Even IT capital Bangalore seems to be returning to normalcy after witnessing mass layoffs in the last quarter of 2008, with one-fourth of the firms planning to increase headcount this quarter. Of these firms, 52% said they are undertaking replacement hiring. Four-fifths of the firms in Delhi and 57% recruiters in Mumbai are hiring to ramp up for growth, said the survey conducted by TJ InSite, the research wing of TimesJobs.com. The results show that corporate India is upbeat about the economy in spite of the looming threat of a drought due to the truant monsoon and swine flu fears that have created panic in several cities. “Swine flu is not a pandemic yet; unless it goes to such proportions, there will be no impact on the job market,” says Sunit Mehra, managing partner of executive search company Hunt Partners. Though these concerns remain, India Inc’s general mood is optimistic, with the feeling that economic recovery has well and truly started gaining traction across sectors. July’s robust car sales and industrial production figures for June bear out this optimism. Globally too, the signs are encouraging, with a lower-than-expected decline in US economic growth for the June quarter and a rebound of the South Korean economy. “The quarter-on-quarter growth that India Inc has witnessed both in terms of revenues and profits, and the continuation of government stability, policies and commitments have brought a more optimistic business forecast for organisations,” said Vivek Madhukar, vicepresident of TimesJobs.com. The TimesJobs survey covered sectors such as IT, BPO & ITeS, engineering, logistics, healthcare, architecture, hospitality, travel & tourism, finance & accounting and sales & marketing. India’s largest carmaker, Maruti Suzuki, which hired 300 professionals from engineering and management campuses last year, plans to take the strength of its engineers in R&D to 1,000 by April next from around 730 now. Drugmaker Lupin, which has over 50% of its employees in India, plans to add up to 1,000 people, including medical representatives, R&D professionals, IP managers and clinical researchers, this financial year. “Healthcare not being a discretionary spend, the industry has largely been insulated from the economic slowdown,” explains Lupin Pharma president-HR, Divakar Kaza.
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