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Companies bullish on business outlook, but still cautious on hiring: TeamLease Report

Team YS
15th Jan 2010
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­Net Employment Outlook for the quarter January – March 2010 rises by 1 index point to 47%

­Net Business Outlook stands at 41%, an increase of 10% compared to the previous quarter

Key Findings of Quarterly Employment Outlook Report

(January - March 2010)

  • Employment Outlook Index for Quarter –XIII (Jan-Mar 2010) stands at 47 index points, which is 1% higher than the previous quarter. Among the sectors covered, there is an increase in index points of all sectors except Financial Services, Health care/Hospitality and Pharma. Infrastructure (with 69 points) has the highest index points followed by IT (with 59 points).
  • Among cities, there is an increase in Employment Outlook index points of all cities except Mumbai, Delhi, Hyderabad and Ahmedabad. The Employment Outlook Index points of Pune increased the most (by 50 points) while it dropped the most for Delhi (by 24 points).
  • In Quarter – XIII, the Net Business Outlook Index has shown an increase of 41 index points. The index points of most sectors are on the increase except Telecom and Pharma. The ITES sector increased the most (by 31 points).
  • Among cities, there is an increase in Business Outlook index points of all cities except Mumbai, Delhi and Hyderabad. The Business Outlook Index points of Pune increased the most (by 63 points).
  • It is observed that there is a decrease in the intention to hire at all Managerial levels.
  • It is observed that there is an increase in the intention to hire in Marketing and Customer Service functions
  • During the past 3 months as well as the last 1 year, Hyderabad, Kolkata and Delhi had the highest attrition rates compared to other cities. Ahmedabad had the lowest attrition rate in both last 3 months as well as in last 1 year.

India, January 13, 2010: TeamLease Services Private Limited, India’s largest staffing company, today released its latest Employment Outlook Report for the period Jan – Mar 2010.

TeamLease releases the Employment Outlook Report every quarter after a survey administered to the HR heads, CEOs and Senior Management of leading companies in India. The study, which covered 501 companies in the latest round, focuses on the employment growth potential, the business outlook and hiring forecasts with relation to the location and the company profile. The report serves as a reference manual to corporate houses to understand the employment trend in the present market scenario at major cities across the country.

According to Rajesh AR, VP, TeamLease Services Pvt Ltd, “Hiring sentiments have marginally improved this quarter, in line with the Industry’s positive outlook. Our estimates show that there would be a leap of faith during this current quarter and trends will not just hold out, they will be bolder and result in higher employment gains. That said, employers are cautious and are placing stronger emphasis on skill-gap and employability. It must be noted that the intention to hire is still weak this time around. The jitters have been shaken off, however, and the numbers are now likely to ramp up steadily.


CITY HIGHLIGHTS
Bangalore (previous Oct – Dec 2009)Bangalore (current Jan – Mar 2010)
  • The city has seen a decrease in the Net Employment Outlook by 7 points
  • The city has seen a decrease of 11 points in the Net Business Outlook
  • Financial Services is leading the employment growth followed by Pharma
  • Retail, Media & FMCG are the major contributors to the growth. Whereas, ITES and Healthcare sectors are showing a negative growth
  • Attrition rate is highest in Bangalore when compared to other cities and stands at 16%.
  • The city has seen an increase in the Net Employment Outlook by 14 points
  • The business Outlook has also increased by 27 points.
  • Financial Services is leading the employment growth as well as the Sector wise growth followed by Health and Telecom
Attrition rate has seen a dip in Bangalore and stands at 10%
Mumbai (previous Oct – Dec 2009)Mumbai (current Jan – Mar 2010)
  • City has seen a marginal increase of 2 points from the previous quarter in the Net Employment Outlook Growth and stands at 51 points
  • Mumbai has seen an increase of 9 points from the previous quarter in the Net Business Outlook and stands at 25 points
  • Infrastructure still continues as the highest contributor followed by IT and Financial Services sector to the employment growth in the city and stands at 9 points
  • Healthcare followed by IT, Pharma and Infrastructure are the highest growing sectors
  • The Employment Outlook for the city has plummeted by 10 points and stands at 41.
  • The Business Outlook has also dipped by 4 points to 21.
  • IT leads the employment growth in the city at 9 points followed by Infrastructure at 8 points.
  • Infrastructure is the highest growing sector with 7 points followed by Health and Manufacturing & Engineering.
New Delhi (previous Oct – Dec 2009)New Delhi (current Jan – Mar 2010)
  • The Net Employment Outlook has seen a decrease of 8 points and currently stands at 59 points
  • The Net Business Outlook has also seen a dip of 3 points and stands at 40 points
  • IT (10 points) followed Financial Services (9 points) sectors are the biggest contributors for Employment Growth in the city.
  • Infrastructure still remains the highest growing sector, closely followed by Telecom and Pharma
  • The Net Employment Outlook has plummeted by 24 points and currently stands at 35 points. This is the steepest decline when compared with other cities.
  • The Net Business Outlook has also dipped by 4 points and currently stands at 21 points
  • IT (9 points) followed by Infrastructure (6 points) sectors are the biggest contributors for Employment Growth in the city.
  • Retail, Media & FMCG are the highest growing sectors closely followed by IT, Infrastructure and Health
Hyderabad (previous Oct – Dec 2009)Hyderabad (current Jan – Mar 2010)
  • Hyderabad has seen a jump of 43 points in the Net Employment Outlook and currently stands at 76 points. The highest among the cities
  • The Net Business Outlook is also the highest among the cities with 68 points
  • ITES and IT are the biggest contributors to Employment growth at 20 and 18 points respectively
  • Manufacturing and Engineering is the highest growing sectors closely followed by IT, ITES and Healthcare sectors
  • Hyderabad continues to see one the highest attrition rates among the cities with 23 points
  • The city has seen a decline of 22 points in the Employment Outlook, and currently stands at 54 points.
  • The Net Business Outlook is also gone southwards with a dip of 33 points; and is now standing at 35 points.
  • Infrastructure, Health and ITES are the biggest contributors to Employment growth at 16, 14 and 14 respectively
  • ITES is the highest growing sector followed by Health and IT
  • Attrition rate is highest in Hyderabad when compared to other cities and stands at 16%.
Pune (previous Oct – Dec 2009)Pune (current Jan – Mar 2010)
  • Net Employment Outlook has seen an increase of 7 points and stands at 20 points
  • The Net Business Outlook  has also increased by 7 points and stands at 14
  • Pune shows the highest increase in the ITES sector (10 points) closely followed by IT sector (8 points)
  • IT continues to be the fastest growing sector in the city.
  • Pune has seen the highest jump, by 50 points, when it comes to Employment Outlook and stands at 70 points
  • The Business Outlook of Pune has also seen a jump of 63 points, the highest among the cities, and currently stands at 77
  • The biggest contributors to the Employment growth are IT and ITES
  • IT and ITES are the largest growing sectors as well.
Kolkata (previous Oct – Dec 2009)Kolkata (current Jan – Mar 2010)
  • Kolkata’s Employment Outlook Growth remains steady at 34 points with no increase or decrease.
  • Net Business Outlook has shown a marginal decrease of 1 point when compared to previous quarter.
  • Highest increase in Employment Growth is seen from the Financial Services sector followed by Infrastructure sector.
  • Financial Services followed by Infrastructure is the highest growing sectors in the city.
  • Net Employment Outlook has increased by 13 points and currently stands at 47 points
  • Net Business Outlook has also increased by 19 points and currently stands at 58
  • Infrastructure is the biggest contributor to Employment growth followed by M&E and Pharma
  • Infrastructure followed by Health and M&E are the highest growing sectors in the city.
Ahmedabad (previous Oct – Dec 2009)Ahmedabad (current Jan – Mar 2010)
  • The city witnesses an increase of 16 points in the Net Employment Outlook in this quarter and stands at 41 points
  • City’s Business Outlook has jumped to 16 points from 0 previous quarter.
  • Retail, Media & FMCG and Healthcare are equal and highest contributors towards Employment Growth
  • Manufacturing & Engineering is the highest growing sector
  • The city witnesses a decrease of 4 points in the Net Employment Outlook in this quarter and stands at 37 points
  • The Business Outlook has also increased by 15 points and currently stands at 31.
  • Retail, Media & FMCG followed by Health are the biggest contributors to the Net Employment Outlook
  • Healthcare is the highest growing sector
Chennai (previous Oct – Dec 2009)Chennai  (current Jan – Mar 2010)
  • Net Employment Outlook shows a decrease of 19 points and currently stands at 34 points
  • Net Business Outlook has not shown any increase or decrease.
  • City sees a highest contribution to the Employment Growth from Healthcare at 11 points followed by Financial Services at 8 points
  • Healthcare and Infrastructure are the highest growing sectors in the city
  • The Net Employment Outlook shows an increase of 20 points and currently stands at 54 points.
  • Net Business Outlook has also jumped by 30 points and currently stands at 60
  • Healthcare is the biggest contributor to Employment growth.
  • Financial Services is the highest growing sector in the city


TeamLease India Jobs’ Hotline:

TeamLease Services is also providing assessments of skills for job-seekers, besides matching the candidates’ profiles with the available jobs in the country.

Jobs’ Hotline: For assessment and jobs the candidate can call the Jobs’ Hotline 60012345 from 8.00 am to 8.00 pm, 7 days a week.

SMS: Candidates can send sms to 56161 by typing ‘jobs’ and sms 56161. They will be called back and assessed.

Portal: Candidate can login to the TeamLease Website (www.teamlease.com) and upload their CV. The candidate will be contacted by TeamLease centre for further updates.

Email: Any candidate could also send a mail to jobs@teamlease.com with a copy of the resume. The candidate will be called by TeamLease for further process and update.

About TeamLease Services Pvt. Ltd: TeamLease Services (TeamLease™), India's largest Staffing Solutions Company, has been spearheading the Temporary Staffing revolution in India for more than 6 years now. In this short span of time, TeamLease has deployed more than half a million candidates, and in doing so, it has emerged as one of India's largest private sector employers. The company currently has over 74,000 employees on its rolls, in over 520 locations across the country, working for more than 1000 clients. TeamLease serves its clients, associates and candidates through a network of 18 offices, a nationwide toll-free helpline [600 12345], employment exchanges in partnership with state governments, the web (www.teamlease.com), and a host of employability initiatives such as assessments, training and counseling.

For more information contact:

Vikas Kamboj, Adfactors PR Pvt. Ltd., Bangalore

Landline: 080 – 4113 3061

Cell +91 97422 72207

Email: vikas.kamboj@adfactorspr.com

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