New Delhi :According to the Manpower Employment Outlook Survey released by Manpower Group, the survey of 5,100 employers across India indicates that Indian employers report bullish hiring intentions for the July-September time frame. Hiring confidence remains buoyant and job seekers will likely benefit from what is expected to be a robust labour market.
Indian employers report the strongest regional and global hiring intentions for the fourth consecutive quarter across the 43 countries and territories participating in the survey. Payrolls are forecast to grow in all seven industry sectors and all four regions during the July-September period.
AG Rao, Group Managing Director of ManpowerGroup India, said, “India’s prospects remain comparatively positive even amid the global economic slowdown. Despite the market volatilities, India’s macroeconomic fundamentals have improved due to a combination of various initiatives focused on job creation and skill development with a continuing emphasis on ease of doing business, particularly in relation to infrastructure and other large projects.”
“There is a rising demand for young leaders predominantly in sectors like consumer, IT and financial technology, apart from new age sectors like ecommerce. Employer hiring intentions remain positive in all seven sectors, primarily driven by services, Manufacturing, Banking, finance and real estate sector. In addition, advances in the field of automation and robotics is expected to radically change the job market and to survive this period, there is a growing gap between the skills candidates claim and the actual skills required for many roles—even among candidates who have pursued and received credentials in order to qualify for certain roles. Consequently, employees are required to re-skill to remain relevant. ” added, Mr. Rao.
Payrolls are expected to grow in all seven industry sectors during 3Q 2016, with employers reporting the strongest hiring prospects in the Services sector, where the Net Employment Outlook is +44%. A brisk hiring pace is anticipated by Transportation & Utilities sector employers, who report an Outlook of +38%, while Outlooks of +34% are reported in both the Finance, Insurance & Real Estate sector and the Manufacturing sector. Meanwhile, Public Administration & Education sector employers report the weakest of the seven sector Outlooks, standing at +21%.
When compared with the previous quarter, employers report weaker hiring intentions in four of the seven industry sectors. The most noteworthy decline of 10 percentage points is reported in the Mining & Construction sector, while Outlooks are 9 and 8 percentage points weaker in the Public Administration & Education sector and the Manufacturing sector, respectively. Meanwhile hiring plans strengthen in three sectors. The Transportation & Utilities sector Outlook is 9 percentage points stronger, while Outlooks improve by 4 percentage points in both the Finance, Insurance & Real Estate sector and the Services sector.
Year-over-year, Outlooks weaken in five of the seven industry sectors. Considerable declines of 17 and 12 percentage points are reported in the Public Administration & Education sector and the Mining & Construction sector, respectively, while the Outlook for the Wholesale & Retail Trade sector is 9 percentage points weaker. However, employers in the Services sector report an improvement of 5 percentage points.
India’s Regional Trends
Workforce gains are forecast in all four regions during 3Q 2016, with the strongest labour market anticipated in the North, where employers report a robust Net Employment Outlook of +37%. %. Employers in the East anticipate a healthy hiring climate with an Outlook of +26%, although this is the weakest of the four regional forecasts. %. A brisk hiring pace is also expected in the West, where the Outlook stands at +35%, and in the South, with an Outlook of +31%.
Hiring prospects decline in three of the four regions when compared with 2Q 2016, most notably by 10 and 9 percentage points in the South and the East, respectively. However, employers in the North report an improvement of 6 percentage points.
Year-over-year, employers report a considerable decline of 16 percentage points in the East. Elsewhere, Outlooks are 9 and 3 percentage points weaker in the South and the West, respectively, but employers report an increase of 2 percentage points in the North.
The overview of global responses indicates that most employers expect varying levels of payroll growth over the next three months. The research reveals staffing levels are expected to grow in 40 of 43 countries and territories during the July-September time frame. However, a number of employers also indicate that overall payroll growth is likely to proceed at a more conservative pace than in the prior quarter or last year at this time. Significant upturns in overall employer confidence are few, and some declining trajectories reported previously—most notably in Brazil and China—continue unabated. Third-quarter hiring plans strengthen in 14 of 42 countries** and territories when compared with the April-June time frame, are unchanged in seven, and weaken in 21. Outlooks improve in 13 countries and territories when compared with Quarter 3 2015, are unchanged in five, and decline in 24. Third-quarter hiring confidence is strongest in India, Japan, Taiwan, Guatemala, Romania and the United Sates, while employers in Brazil, Italy and Switzerland report the weakest hiring plans.
Throughout the Americas region, third-quarter workforce gains are expected in nine of 10 countries. However, Net Employment Outlooks decline in nine countries in comparison to the April-June period and are unchanged in one. Similarly, forecasts weaken in seven countries in comparison to Quarter 3 2015, strengthen in two, and remain unchanged in one. Employers in Guatemala and the United States report the region’s most optimistic third-quarter hiring plans. The only negative forecast—in the Americas region as well across the globe—is reported by employers in Brazil.
Employers in 23 of 25 countries in the Europe, Middle East & Africa (EMEA) region expect to grow staffing levels over the next three months. In a quarter-over-quarter comparison, forecasts improve in 12 countries but weaken in seven. When compared year-over-year, job prospects are expected to improve in 10 countries and decline in 12. Romanian employers report the region’s strongest third-quarter hiring plans, while the weakest outlooks are reported in Italy and Switzerland. For the first time in eight years, there are no negative national forecasts reported among countries in the EMEA region. The third-quarter survey also includes Portugal for the first time, bringing the total of countries and territories participating in the Manpower Employment Outlook Survey to 43.
Job gains are expected in all eight countries and territories surveyed in the Asia Pacific region. However, hiring prospects weaken in five countries & territories in comparison to Quarter 2 2016, improve in two and are unchanged in one. Similarly, third-quarter forecasts weaken in five countries and territories when compared year-over-year, improve in only one and are unchanged in two. For the fourth consecutive quarter, employers in India report the most optimistic regional and global hiring plans. For the fourth consecutive quarter, employers in China report the region’s weakest forecast.