Thursday, December 11, 2008

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Best time to hire for India Inc: Deloitte

KOLKATA: Even as companies worldwide resort to layoffs or freeze hirings as part of cost-saving measures to counter the economic slowdown, Deloitte Consulting believes the current turbulence actually presents India Inc with its best opportunity to enrol good people in their organisations.

"There's a lot of talent available in the market now and companies can indulge in cherry-picking. Most importantly, salary expectations are presently reasonable and jumping jobs will also not be on the top of a potential employee's mind for at least for a year or so," Deloitte Consulting India MD Roopen Roy told TOI. Deloitte itself is walking the talk in this respect. Between now and 2011, it intends to hire an additional 4,000 staff in India across all its businesses. Currently, the different Deloitte arms cumulatively employ about 9,000 employees in this country. 

Incidentally, attrition has already dropped significantly in the IT and BPO arenas since the financial crisis started spreading and companies began adopting a zero-tolerance approach. At the same time, the manufacturing segment has once again started catching the fancy of engineering graduates. 

Roy said that India, despite the expected drop in growth, is likely to come out of the slowdown quicker than the industrialised West and should thus utilise the present crisis to put its house in order. "Some people here are actually talking themselves into a recession and pulling down sentiment further," he added. The Deloitte MD said the present economic climate presented governments with an opportunity to become more efficient by pushing through administrative reforms "that would not have been possible if there was no economic crisis". "There is no magic strategy that will turn the present global financial crisis into an unalloyed positive. However, governments worldwide can find the seeds of long-term advantage in the decisions they make now," he added. 

Roy said the long-term effect of the meltdown could be positive with governments and policy-makers "rebuilding their way of operation and not focusing only on short-term gains". 

Source: The Times of India


  1. Bullshit.D itself has fired 1000 people in the last one year.In SAP,.Net etc skillsets.


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