Indian employers set to slow hiring in Q3 FY13
Indian employers are set to slow the pace of hiring in the October-December quarter as majority of them plan to keep the workforce at current levels on account of sagging global economy and policy paralysis on the domestic front, says a survey.
According to the Manpower employment outlook survey, they are down shifting from the vigorous hiring pace seen over the past two years, with just 27 per cent employers optimistic about strengthening their staffs, says the survey.
Moreover, Taiwan has toppled India as the most optimistic country in terms of hiring intentions in the next three months over the world.
‘In the emerging markets of China, Brazil and India, employers in nearly all industry sectors expect to slow the pace of hiring from this time last year, most notably in India,’ the report said.
Commenting on the findings, Manpower managing director Sanjay Pandit said, ‘The weaker hiring outlook reflects caution amongst employers as Indian companies gauge the impact of the ongoing global slowdown compounded by local governance issues and policy paralysis.’
Interestingly, Indian employers do not intend to shed staff, but they are definitely planning to considerably downshift their hiring until 'they see more positive signals in the marketplace', Pandit said.
Region wise, hiring plans in all four zones of India and all seven industry sectors will weaken by varying degrees for the coming quarter, but outlooks still remain in the positive territory in all industry sectors.