November 15, 2010 5:57:58 am
After a drastic drop in number of people getting hired in various sectors post-recession,the industrial scene finally seems to be looking up the biggest indicator being that the attrition rate in some big companies in the city is on the rise.
Sunil Goel,director of GlobalHunt,an executive search firm,says,The markets have been showing a positive trend for the last three quarters; especially the third quarter has been good for most industries. Companies are starting to recruit in big numbers and there is a hiring trend across sectors.
Job portal naukri.com recently revealed that there was a substantial increase in hiring in auto and IT sectors in October 2010,the highest after July 2008. Geeta Monga of placement cell MGA Systems says,There has definitely been an upward trend; September as well as October have been particularly good. The world is looking towards India not only for orders but also for manufacturing,which has helped a lot in employment generation. Auto and its related sectors as well as IT have been doing good.
The attrition rates of Infosys,according to Q2 results,were around 17 per cent,as against 15.8 per cent in Q1. For TCS,the rate has been almost 14 per cent. Deepak Shikarpur,chairman,IT committee,MCCIA,said,The companies have been doing good so far and there are lots of jobs. The only problem in front of us is that the market is flooded with freshers,but the demand is for those with a minimum three-four years experience. Even then,I feel the market scenario is finally bouncing back.
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Zensar Technologies CEO Ganesh Natarajan said both the CEOs and the government should realise that market situations could change any time. The attrition rate in Zensar has been 16-18 per cent,which shows that there are lots of jobs in the market. The consumption rate has gone up and the domestic demand is substantial. But,we should be equipped to face any kind of challenges that might come up in future. If our country does not try to ape the West by depending too much on credit cards,I feel the situation will improve in three years.
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