- Language: English
- 80 Pages
- Published: July 2012
- Region: United Kingdom
BT-The Biggest Fall-2009
- Published: February 2009
- Region: India
- 5 Pages
- Living Media India Limited, India Today
The job market sinks as downturn dents business. The Economy has begun the New Year firmly in grip of a downturn and the job landscape is littered with freezes. The bad news—don’t expect a respite for the next two quarters, at least…
As uncertainty on the jobs front deepens, cutback in household spending will rise. If consumers curtail more expenditure, business sales and earnings shrink further. The collapse in profit margins and lack of demand will force companies to freeze hiring or even implement lay-offs. This becomes a vicious cycle. And India Inc. is in the midst of one as the Business Today-TeamLease Employment Outlook Survey (January-March 2009 quarter) indicates…
In the survey, the Net Employment Outlook (the difference between the percentage of respondents reporting an increase in hiring and those expecting a decline) stands at 34 per cent, a drop of 30 index points from the last quarter and a drop of 46 index points compared to this quarter last year. Spread across eight cities—Mumbai, Delhi, Bangalore, Kolkata, Chennai, Pune, Hyderabad and Ahmedabad—the survey drew responses from 492 companies…
"1. Darkening pie (Net Employment Outlook): Though hiring intentions are positive for 44 per cent of respondents, employers have slowed down the pace of hiring.
2. Lowest point (Employment Outlook Index in the last 9 quarters): With no improvement in job prospects likely over the next 12 months, index could be near zero in the next quarter, implying overall freeze.
3. Hyderabad Hammered (Employment Outlook Index—Citywise): Post-Satyam debacle, things could worsen for Hyderabad, which shows the biggest fall in outlook. Delhi continues to buck the trend on the back of ITES and telecom.
4. Telecom Afloat (Employment Outlook Index—Sectorwise): New telecom companies will start gearing up for operations, for which they will start recruitment now, no wonder it's the sector with no fall.
5. HR & Finance Lose Favour (Hiring Across Functions): Business development and technology related functions are in the limelight as focus shifts towards optimising cost.
6. Bleak Business (Net Business Outlook): Not too different from the Net Employment Outlook, this is the lowest ever business outlook in the last 9 quarters.
7. Infrastructure in the Red (Business Outlook Index—Sectorwise): From the largest hiring to the biggest firing, infrastructure sector's fortunes have swung the most in 2 quarters.
8. Freshers in Trouble (Hiring across Managerial levels): Recruitment will take place as per the immediate needs of the company. Right now, the need seems to be most for middle managers.
9. Blow for Mumbai (Business Outlook Index—Citywise): Global recession coupled with terror attacks and poor market sentiment has hit India's commercial the most.