Employment Outlook Survey - This half yearly edition from TeamLease bring you various new insights across sectors, cities and functional areas.
Summary of the report
- Consumer sentiment and spend powers hiring sentiment, notwithstanding a tinge of negative sentiment with the Make in India initiative in the Manufacturing and Engineering and the Infrastructure sector. The Net Employment Outlook improves by 4 percentage points to 93 and the Net Business Outlook goes up to 95, three percentage points more than the previous half year.
- Small businesses (69, up 5 points) in cities – Metros and Tier-1 (97, up 4 points) – drive Employment Outlook and this is likely to up Entry level hiring significantly (70, 5 points up). Blue Collar (74, 9points up), IT (85, 6 points up), Sales (94, 4points up) and Marketing (78, 3 points up) jobs are likely on offer.
- A majority of sectors and cities improve on their previous half year’s outlook, although each of them modestly (either 3 or 2 percentage points up). Telecommunications, FMCG, Pune and Chennai improve their employment Outlook by 3 points each. Financial Services (5 points down) and Kolkata (6 points down) are the prominent losers. Infrastructure and Manufacturing and Engineering lose marginally.
- Ecommerce and Tech Start-ups (2 points up, 23.6% job growth), FMCG (3 points up, 11.4% job growth) and Telecommunications (3 points up, 10.13% job growth) grow marginally in a routine show by sectors. Healthcare and Pharmaceuticals (2 points up, 14% job growth), Retail (2 points up, 14.4% job growth) and Information technology (2 points up, 14.2% job growth) follow a couple of rungs down.
- The top three sectors (by city) in terms of employment outlook growth are -
- Mumbai: Healthcare &Pharma (4%) / Telecom (3%) / Information Technology (3%)
- Delhi: Healthcare &Pharma (8%) / Retail (4%) / Infrastructure (4%)
- Bangalore: Retail (6%) / Financial Services (5%) / Healthcare &Pharma (3%)
- Kolkata: Financial Services (4%) / Healthcare &Pharma (4%) / Infrastructure (3%)
- Chennai: Manufacturing & Engineering (6%) / Telecom (3%) / Retail (3%)
- Pune: Financial Services (6%) / Healthcare &Pharma (5%) / Manufacturing & Engineering (4%)
- Hyderabad: Infrastructure (3%) / Telecom (4%)
- Ahmedabad: Infrastructure (6%) / Telecom (4%) / Retail (3%)
- Businesses drive employment sentiment, relatively more than government initiatives, for this forthcoming half year. The Make in India initiative has been a critical driver of employment sentiment over the past couple of half years. This time round, however, there is a tinge of downward sentiment associated with the initiative, due to the negative job growth in 8 key sectors of the economy. This has had a small negative impact on hiring sentiment in the Manufacturing and Engineering and the Infrastructure sectors.