Hiring outlook in India bleakest in 15 years: Survey

As per the ManpowerGroup Employment Outlook Survey, that covered 813 firms across India, Indian employers report cautious hiring plans for the final quarter of 2020. It said 7 pc of employers anticipate an increase in payrolls, 3 per cent forecast a decrease and 54 per cent expect no change. Once the data is adjusted to allow for seasonal variation, the outlook stands at 3 per cent.

“Hiring sentiment is the weakest since the survey began 15 years ago, remaining relatively stable when compared with the previous quarter, but declining by 16 percentage points in comparison with this time one year ago,” the survey said.

The strongest hiring pace is recorded in the small-sized organisations followed by the medium-sized and large-sized firms. From a region perspective, north and east regions indicate a more positive outlook compared to the west and south, it said.

“Firms are looking at improving productivity, new forms of employee engagement, getting furloughed employees back and implementation of technology,” said Sandeep Gulati, MD, ManpowerGroup India.