Infrastructure And Energy Sectors To Speed Up Hiring Drive

A survey has shown that technology and outsourcing sectors have started a hiring drive again due to the sound recovery in 2009. It has also been reported that they will grow in the range of 8.5%-8.9% in the ongoing year.

The survey had covered 465 companies across 20 different industries in the country. It was carried out by H.P. Sandeep Choudhary, Hewitt’s performance division in India, said, ‘‘the economy has shown faster recovery in sectors relying on domestic consumption while recovery in those which have global dependence is expected to gain speed by mid-2010. This growth and fact that 2009 saw a lot of salary freeze and cuts, are providing an impetus for healthy increase in compensation for employees.’’

The Hewitt survey also projected that other Asia Pacific countries like China, Japan, Singapore, Australia and Thailand would get single digit salary hikes in the range of 2.1-6.7% in 2010.

There will be also a significant drop or a freeze in fresh recruitment, which may go down to 6.6% from 29.4% this year. The survey also predicted a fall of layoff to 3.5%. It was about 16% last year. There has been also a sharp decline in attrition rates. It stands 12.9% (voluntary) and 3.1 % (involuntary). Last year, the rate was about 15.4%.

Choudhary said, ‘‘about 93.4% of the firms surveyed are expected to hire this year.’’

According to him, companies in sectors like telecom, oil and gas and infrastructure are expected to recruit the most, across lateral and entry levels.

Source: indiaserver.com