Tuesday, June 23, 2009

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Indian IT Market looking up: headhunters

Headhunters say that the domestic job market is already showing signs of a revival, with the hint that probably the worst is over. Some attribute it to the decisive electoral verdict, while others credit the growing consumer demand that has given domestic companies a new lease of life.

“In the last one-month demand for new jobs have shot up by at least 25 per cent,” Vivek Ahuja, managing director Confiar Global said. He added that with a strong government at the Centre, market sentiments had improved tremendously with a trickle down effect upon employers as well.

“Companies are riding on the feel good factor. This has given a new boost to employment prospects for the entire year ahead,” Ahuja said. In merely four weeks, hiring across sectors namely hospitality, energy, infrastructure and FMCG has witnessed a rise.

Sunil Goel, MD Global Hunt said that job enquiries are going up. “We are receiving many emails and phone calls from companies wanting to increase recruitments. This was not the case say 2 months back,” he said.
He adds that this is on account of many companies now eager to execute projects long delayed due to the credit crisis. “Jobs across energy, infrastructure, life sciences and pharmaceuticals have gone up by more than 15 per cent in the last three to four weeks,” Goel added. However, he said that it was mainly the telecom space that was seeing the maximum movement. Financial Chronicle had earlier reported that the telecom space would add a whopping 1 lakh jobs in the next one year.

However Ashok Reddy, managing partner Teamlease cautions that job creation was mainly among the experienced lot, and freshers may still have to wait for their turn. E Balaji, executive director Ma Foi Management Consultants said that the job market was showing signs of a revival but added that India was still far away from the kind of job creation witnessed in the last few years.

Earlier this month, according to a report by global staffing company Manpower Inc, India was most buoyant on hiring with 19 per cent from July to September 2009.

“The global slowdown is likely to have minimal effect on employer hiring plans in India over the next three months,” the report noted. India was followed by Norway (15 per cent) and Poland (9 per cent). Hiring forecasts for China and USA were 3 per cent and – 2 per cent respectively.

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