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India – Positive job outlook for 2014

02 January 2014

A cross section of HR consultants, staffing and employment experts predict positive hiring trends across sectors in 2014. It is expected that improved economic outlook will lead to a healthier Indian labour market in the coming year.

“Hiring sentiment will trend upwards this year. Though in the last two and half years, the employment outlook has been dull with hiring in the slow lane, companies are now gearing up to seize the moment,” said Sangeeta Lala, Senior Vice-President and co-founder of TeamLease Services, a recruitment company.

“Jobs in retail, hotels and hospitality are picking up right now. Fast moving consumer goods and consumer durables are also speeding up, as are hires in the engineering and manufacturing sector. Only jobs in the infrastructure, construction and real estate sector are bound to be dull,” Lala told Business Line.

Confidence levels are returning as a result of the improvement of the global economy. Lala added that, “given the good year (2013) for the economy, businesses are stable now, and productivity is better. Though many companies are exercising caution, several corporates are eager to invest on people and increase their manpower.”

Retention would also be a priority. “Talent retention would be key this year. Corporates would take several steps to retain top talent, with retention initiatives concentrated around rewards and recognition,'' said Mahninder Singh, recruitment specialist at executive search firm, Varghese International.

“Organisations have already moved to performance evaluation mode and the outcomes are all about how valuable talent needs to be rewarded and retained. Seen in conjunction with the aggressive talent hunt, organisations would be keen to retain top talent. This is bound to get more aggressive this year over the next six months, far more than in the previous half years,” Lala added.

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