Indian companies 8th most optimistic on hiring plans: Survey

NEW DELHI: Indian companies are the eighth most optimistic lot globally in terms of hiring intentions for April-June with 16 per cent of employers likely to add more staff during the period, while Croatia topped the pack, says a survey.

ManpowerGroup interviewed 58,000 employers in 43 countries and territories and noted that Croatia, where employers were surveyed for the first time, reported healthy hiring intentions based on unadjusted survey data.

According to the survey released today by staffing firm ManpowerGroup India, workforce gains were expected across all four regions and seven industry sectors including services, finance, real estate, manufacturing, among others.

The survey, conducted among over 4,600 employers across India in various segments of industries, noted that although the hiring pace will slow, few staff reductions are expected.

Croatia with a net employment outlook of 29 per cent topped the list of being most optimistic in terms of hiring intentions for the next three months, followed by Taiwan (26 per cent) and Japan (24 per cent) in second and third position, respectively.

Among the countries and territories featuring seasonally adjusted data, confidence is strongest in Taiwan, Japan, Hungary and the US, while the weakest hiring prospects are reported in Italy, the Czech Republic and Switzerland, the survey said.

"Indian job seekers are likely to benefit from the positive labour market during April-June. In the coming times, technology will change the job market dynamics and individuals need to adopt skill set to continue to remain employable," said A G Rao, Group MD at ManpowerGroup India.

Rao further noted that 2018 will see a sharp increase in demand for professionals with skills in emerging technologies such as Artificial Intelligence (AI) and machine learning.

Moreover, government's initiatives to make labour markets more flexible to effectively address employability gaps, combined with signs that the Indian business environment is improving, is reinforcing employer confidence, he said.

Employers expect to increase staffing levels in all seven industry sectors during the upcoming quarter. The strongest labour market is anticipated by wholesale & retail trade sector employers with a net employment outlook of 21 per cent.

Employers in all four regions expect to increase payrolls during the next three months. The strongest hiring prospects are reported in two regions with Net Employment Outlook of 17 per cent in north and south each.