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In an interview with The Economic Times Randstad’s Brian Wilkinson, executive board member and chairman for India, said that the state of the Indian economy is still in good shape despite the downbeat mood in the country with workers worrying more about the job market.
“’India has lost its way’ is a sentiment I've heard frequently expressed. But that's not something I've observed or felt myself,” he told the paper.
“Given that Europe is somewhat in the doldrums and India is still growing at 6% plus, I was surprised that the importance of salary and financial reward is less important now than a year ago and areas like job security and stability are in the ascendancy – just like in Europe,” he added.
Mr Wilkinson also said that IT-ITES and technology sectors “continue to move up the value chain. They are seen almost a safe haven, as compared to industries like aviation, which are volatile and have seen seismic shocks here over the last few years.”
He argued that temporary staffing was also growing as the labour market is deregulated. “From the demand side, there's a clear requirement for the ability to 'flex' headcount in line with customer demand, seasonality or the days of the week,” Mr Wilkinson said.
“And from the supply side, increasingly, people want better work life balance and take time off to do other things or gain experience across industries.”
Demand for temporary agency workers in India is mainly coming from fast moving consumer goods companies as well as telecom and banking firms.