New Delhi: Indian employers have reported the strongest regional and global hiring prospects for the fifth consecutive quarter, as per the Manpower Employment Outlook Survey for Q4 2016. The report indicated that Indian employers report optimistic hiring intentions for the October December period. The labour market outlook in India appears to be bright as good times will continue with professionals hoping for increased job opportunities.
Employers in all eight Asia Pacific countries and territories expect workforce gains during Q4 2016. The weakest Asia Pacific labor market is anticipated in China, for the fifth consecutive quarter. AG Rao, Group Managing Director of ManpowerGroup India said, “The hiring outlook reflects some signs of increased caution amongst employers as Indian companies gauge the impact of the ongoing global slowdown compounded by automation in the IT sector and talent scarcity. However, there will also be some gains in the highskill jobs, as automation could create new positions too. However, the government’s focus remains clearly on creating jobs and ensuring that India becomes a manufacturing hub.”
Employment opportunities will galore across sectors in October-December 2016 as employers in India expect payroll gains in all seven industry sectors during the forthcoming quarter. The Services sector will be the top performer in the labour market, where the Net Employment Outlook stands at +39%. Brisk hiring activity is expected for the Wholesale & Retail Trade sector, with an Outlook of +37%, while Manufacturing sector employers expect a solid hiring pace, reporting an Outlook of +30%.
“In the current situation, companies do realize the need to embrace digital transformation and it is important for Indian employers to redefine their workforce strategies and adopt innovative ways to leverage the strength of people and stay competitive. For gainful employment, jobseekers too need to continuously update and assess their skills to stay ahead of the curve in sync with the evolving economic trends,” added Mr. Rao.
The Manpower Employment Outlook Survey for Q4 2016 mentioned that employment prospects are expected to expand by varying degrees in 42 of 43 countries through the end of the year. Only Brazil is expected to buck the trend as employers in Brazil in expect hiring to squeeze in the October-December quarter. Hiring confidence is strongest in India, Japan, Taiwan and the United States, while employers in Brazil, Belgium, Finland, Italy and Switzerland report the weakest hiring plans. ManpowerGroup has surveyed 5,089 employers across India while has interviewed 59,000 employers across the globe.