Employ-ability -The Pioneer -

http://www.dailypioneer.com/avenues/90630-employ-ability.html

The changing employment and hiring scenario is heavily dependent on macro-economic factors like global turnaround, elections and policy decision making. Sangeeta

Lala tells you how the tier I and tier II cities have fared in the Employment and Business Outlook surveys
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Over the past few quarters, it has been interesting to see the pace of change and overall caution that is expressed by employers and employees alike across corporates settings in India. The market is constantly refreshing itself to keep pace, more so where businesses are even remotely linked to the Euro and US markets.

The recent Employment Outlook Report released by TeamLease summarises these trends for the coming months and shows the increasing gap across the traditional and new age sectors. Traditional industries are estimated to carry the flag ahead and the rest have to tread with caution.

Manufacturing, infrastructure, healthcare and pharma are the steady pillars for the next quarter. While manufacturing and engineering have shown a constant growth in hiring since the past quarter, the next few months seem to be particularly optimistic for these industries.

Retail and FMCG, IT and ITES seem to be coming up for a tough call in the next few months. IT particularly is speculating how the global markets would pan out and shows an unaggressive outlook.

The present uncertain economic and financial situation in Europe, US seem to have induced an element of caution in the Indian BFSI (Banking Financial Services & Insurance) sector. The sector has significantly cut back on hiring and few are anticipated to freeze hirings across levels.

Hard-to-wither optimism continues to hold sway with few functional areas. Four out of eight functional major areas show a positive trend, typically engineering, technology, sales and marketing functions. Seems like run-of-the-mill support functions would take a beating (administration/HR/ office service) in the next few months.

City wise employment outlook, fares better than its counterpart, business outlook. City wise, the most interesting development has been observed in this quarter. In comparison to the last three quarters, Delhi and Ahmedabad has shown a constant increase in the Employment Outlook Index. Kolkata and Mumbai have shown a constant decrease in the same.

Hiring across metros seems to be flat in the forthcoming quarter, while tier-II cities and tier-III towns dip and stay down-treaded.

Middle level candidates are in for a good time, as are senior level hiring which anticipate a marginal increase in hiring. This, however, comes at the cost of significant decline in hiring patterns for entry and junior levels.

What?s changing in the way we hire and retain? It appears that companies have gone for some soul searching (read as streamlining costs):


?????????? Internal hirings/promotions are going mainstream.


?????????? This is one of the topmost trends which managers and HR teams are encouraging than pushing multiple external vendor and means of recruiting. This builds in a lot of scope for employees to focus on building their skills and take complete advantage ointernal development programmes like apprenticeships, job rotations, internal transfers et al.


?????????? Companies are sensitive to ROI (Return on investment) in their modes of recruitments. Just hiring ?good? talent is not enough anymore in these tough times. Employers and business managers are asking for the ?best? talent, retention measures, and productivity pressures from their teams.


?????????? Companies are focusing on developing additional channels like ramp up of alternate yet cost effective sources, online
social media, investing in alumni and employee referrals, overall employment branding since that is what would give returns in the long term. Traditional ways of hiring are being phased out and technology driven platforms/applications are throwing out data of better, quicker methods of hiring.


?????????? Employers are putting the plumbing in these low times to reap benefits when the real hiring picks up after a few quarters.


?????????? This recession has given advantage to hire temps (organised temporary workers, part timers, seniour contractual consultants). It has given employers the flexibility to control costs and headcount as well as fill in gaps in volume, junior level hiring in a quicker timeframe.


Overall, the changing employment and hiring scenario is looking heavily dependent on many macro-economic factors like global turnaround, elections and policy decision making. It would surely be a phase with modest employment growth but will also mean a lot of flexibility and openness across the board for hiring managers, job seekers and recruitment specialists.

The writer is senior vice-president and co-founder, TeamLease Services.

Source: http://www.teamleaseiijt.com/1/post/2012/08/employ-ability-the-pioneer.html

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