Companies are quite apprehensive about campus placement these days. According to a new report, most of the large IT multinational corporations are stressing on off-campus placements to fulfil their talent requirement as it significantly reduces the waiting period.
According to a TeamLease employment outlook report for the October-December quarter, despite the sluggish growth in business sentiment, majority of the businesses have decided to hire in the forthcoming quarter.
Among cities, hiring in Mumbai and Hyderabad will see a marginal increase. Mumbai has recorded the lowest attrition.
The retail and fast moving consumer goods sector is likely to hire more in the coming quarter. Despite the ‘not-so-good’ business sentiment, the job outlook remains positive, the report has noted.
Hiring sentiment
Hiring sentiment registered a three point increase indicating a positive outlook for the upcoming quarter. From a sector perspective, retail and healthcare and pharma have registered an increase of three and two points, respectively, resulting in the overall improvement in hiring sentiments.
On the hierarchical front, the report forecasts a surge in the entry and junior level hiring. The report goes on to reveal that while the business sentiment is still not buoyant, companies would like to hire the right talent to maintain their growth trajectory.
Another interesting development noted by the report is in the IT industry, which is witnessing improved hiring sentiment accompanied by a decline in attrition rates. The sector is seen to have begun bolstering its sales force for demand generation and to defend the falling price-lines.
Speaking about the report, Sangeeta Lala, Senior Vice-President, TeamLease Services, said: “While the previous quarter witnessed non-uniformity in employment outlook, the current quarter seems to provide a slightly different view. Business optimism has surely lost some of its sheen, but hiring has not reduced significantly. Job creation in India continues amid talks of lay-offs and employee rationalisation.’’
The study covered 640 companies in its latest round. It has noted that business expansion is the main reason for the increased hiring activity. Talent retention practices, although predominantly conventional, also see some innovation around learning opportunities for better career and performance management, it has added.