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* Ma Foi Randstad Employment Trends Survey (MEtS)- Wave 3
Chennai, October 28, 2011: The organized sector in India created 346,000 jobs between July and September 2011 and is expected to add another 326,400 by end 2011, according to the latest findings of Ma Foi Randstad Employment Trends Survey – Wave 3.
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The survey was conducted among 676 companies across 13 industry segments panning 8 Indian cities. The feedback was gathered from the top HR personnel and senior management of companies, who shared valuable insights on the job creation during the last (July – September) and the current (October – December) quarters of 2011.
The current slowdown in the economy and increasing domestic inflation has resulted in sectoral variation in the employment outlook among sectors and although new jobs continue to be added, it is at a slower pace. According to the survey, the Healthcare sector continues to lead in job generation by adding 60,400 jobs in Q3 (July – September) 2011, followed by Hospitality sector with 48,400 jobs and IT & ITeS sector with 46,600 jobs during the same period.
This is however lesser than the numbers (Healthcare - 63,800 / Hospitality - 54,400 / IT & ITeS - 55,500) predicted at the beginning of the quarter three. These sectors are expected to continue as the lead job generators in the coming quarter with Healthcare expecting to add 58,700 jobs followed by Hospitality & ITeS adding 40,000 plus jobs each.
Among the cities, Mumbai added 28,500 jobs, followed by Delhi & NCR adding 27,000 and Chennai adding 15,500. However, the total job generation by these 3 cities was lower by 6,100 jobs, against the original prediction (Mumbai - 32,300 / New Delhi & NCR – 27,900 / Chennai – 16,900) at the beginning of Q3. These cities are expected to generate a total of 69,200 jobs in the current quarter.
Laid out below are some of the key findings of the survey:
1. In addition to being the lead job generator, the Healthcare sector also saw a salary increase of 16.99% for lateral job shifts.
2. The Energy sector added a total of 7,500 jobs in Q3. An increase in demand for trained manpower in smart grid technology and software is expected in this sector in the coming months.
3. The growth in the Media & Entertainment sector has fuelled the hiring for core functions with a 16.92% increase in salary for lateral job shifts. Interestingly maximum hiring happened through the referral and social media route in this sector.
4. The hiring of freshers (< 1year) was highest in the Hospitality sector (36.46%) and hiring of experienced manpower (5-10 years) was highest in the Energy sector (50.81%).
5. The Pharma sector added 11,300 jobs in Q 3 and this sector witnessed a spurt in hiring of experienced people for core functions.
6. Although the increase in interest rates have brought down the demand in housing, the Real Estate & Construction sector continued to add 29,600 jobs in Q 3 and grow at a rate of 3.29%.
7. Among the cities Delhi recorded a higher increase in average salary (15.01%) for lateral job shifts, followed by Pune (14.98%) and Chennai (14.91%).
Mr. E. Balaji, MD & CEO, Ma Foi Randstad said, “Although the survey results show a sluggish mood in hiring, we see this only as near time problem, as the long term growth story of India is still intact. Many sectors still enjoy a favourable long term excess demand and it is important that they conquer the immediate challenges and protect the growth potential and generate jobs.”
The current survey covers employment generation and other employment related topics such as salary hikes for lateral job changes, composition of job growth and areas during the Q 3 2011 and captures perceptions and expectations of employees and the employment scenario for the Q 4 2011.
The structured analysis was administered by India’s leading economic research firm Indicus Analytics using a quick industry analysis to ascertain the various forces that are working on companies that are affecting their intentions to hire.
Log on to www.mafoirandstad.com to download the full MEtS report.
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