In good news for employees, hiring activity is expected to remain favourable across sectors for April-June 2018, a survey which tracked over 4,600 employers said, with wholesale and retail anticipating the strongest net employment outlook.
While none of the employers expect any reduction in payrolls, 16% anticipate an increase in workforce across sectors, the ManpowerGroup Employment Outlook survey - findings of which were shared exclusively with TOI, says.
The survey could dispel concerns of job creation, as employer confidence remains resilient and job seekers are expected to benefit from a positive second-quarter hiring sentiment.
Employers in all four regions expect to increase payrolls during the next three months, with strong hiring prospects reported in two regions - north and south, a net employment outlook each of 17%. For eastern and western regions, employers forecast a steady increase in staffing levels with outlook of 16% and 14%, respectively.
The hiring trend is upbeat with employers expected to increase staffing levels across all sectors during the upcoming quarter, with wholesale and retail employers driving the growth with an outlook of 21%, closely followed by services with 20%. Finance, insurance and real estate also reported robust hiring plans with an outlook of 15%, while transportation and utilities, 12%.
A G Rao, group managing director at ManpowerGroup India, said, "India‚??s macroeconomic fundamentals have improved due to a combination of various initiatives focused on job creation and skill development with a continuing emphasis on ease of doing business, particularly in relation to infrastructure and other large projects."
Meanwhile, the weakest outlook was registered by manufacturing sector employers at 9%. However, the net employment outlook is a shade lower when compared with second quarter of 2017 (18%), with the hiring pattern wavering in four of the seven sectors. While finance, insurance and real estate sectors reported an improvement in their hiring (up by 3%), public administration and education declined substantially. The decline in services was marginal from 22% to 20%. The outlook decreased by 7 and 4 percentage points in the manufacturing, and mining & construction sector, respectively.
The second quarter survey reveals that, although the hiring pace will slow, few staff reductions are expected. In fact, findings could have been better. The survey was conducted before the Budget announcement.
Rao said, "The Budget laid emphasis on technological advancements through digital initiatives which can be one of the biggest drivers for job creation. In addition, focus on promoting machine learning and artificial intelligence will accelerate the country‚??s position as a global hub for technological capabilities".
Opportunities for job seekers are positive in the wholesale and retail sector, in the wake of MNCs adding retail capacity, and an overall boom in the industry.