80% employers see steady hiring activity in India in 2017: Survey
The global economic slowdown witnessed in 2016 so far could not affect India's employment market, a survey says.
Instead, the country's 80% employers are confident that hiring activity would remain steady in 2017, the latest 'Salary and Employment Outlook' by global recruitment specialists Michael Page said.
"India's employment market enjoyed a good year largely remaining unaffected by the global economic slowdown in 2016, and 80% of employers in India are confident that hiring activity will remain steady in 2017," it said.
It further said that three in five employers or 60% of Indian companies will be adding new head count in 2017.
"We have observed a positive outlook on companies' employment forecast in India. With new orders coming in from overseas firms seeking to utilise India's vast resources and labour pool, more foreign companies are investing in the manufacturing, infrastructure and renewable energy sectors," Page Group Singapore and India Senior Managing Director Sebastien Hampartzoumian said.
"This is driving the demand for specialist skill sets and professionals with both the technical expertise as well as the right cultural fit," he said.
'Michael Page Salary and Employment Outlook' is based on the responses of over 300 employers across India from major industry sectors and ranging from market-leading multinationals to small and medium-sized enterprises.
As part of PageGroup, Michael Page is a professional recruitment consultancy specialising in the recruitment of permanent, contract and temporary positions on behalf of the world's top employers.
The survey further found that 44% of employees will leave their jobs due to limited career progression.
It said 88% of employers are offering 6 to 15% pay increments in the next 12 months, 51% of employers are expected to give 6 to 15% bonuses.
About 83% of employers feel that diversity and inclusion is a priority and have active work place programmes in place, it said.
As India provides an intense market competition and lack of highly qualified candidates...Attracting and retaining talent are key areas of focus for employers, it highlighted.
Career progression (79%), salary increments (56%) and learning and development programmes (40%) are the top three factors in talent retention, it said.
Flexible working hours (55%), providing and allowing work from home and remote access to work (47%) and better staff welfare benefits (42%) are among the most popular work-life balance policies, it added.