Recruitments – India Inc plan to recruit more in Q3 2009
Being a co-founder at Synergy Solutions (a 40 people HR services company), I have been positively waiting to see early signs of recovery as far as recruitment industry is concerned. The main reason being: 
- General Sentiments in the market
- Economic Recession
- Almost freeze on fresh recruitments across sectors
- Companies negotiating placement fees due to cost implications
- Revenues going down and costs are still at same (haven’t fired anyone in my company)
The core team here have been trying hard to find innovative ways to provide recruitment services and try and pass cost advantage to the client at the same time try and provide value added services. I have been talking to a lot of people and also following my clients closely on each and every development and this gives me a feeling that the probably the worst is over for India Inc. Markets are certainly going to improve and India Inc will start recruiting soon. My take is that probably in couple of months companies will be back to their recruiting ways.
Today’s Times of India has our Prime Minister Dr.Manmohan Singh saying that if voted in he has an action plan via which he will be able to get the economy back on track in 100 days. Now this is a good election pitch to lure the voters but on the other hand I believe in what he says as markets are showing the early signs of recovery. He is a man of great respect and he having been at the helm of managing finance for India for many years this statement has a lot of value.
Personally I am certain that my clients will be back to recruit in huge numbers as I am already sensing with respect to my clients opening up their recruitments but recruiting in less numbers right now. Having involved in strategic discussion with my clients I can foresee that they will surely start recruiting heavily (comparatively) in coming months.
In fact don’t take my word for it, get a copy of Manpower employment outlook survey here . Manpower has surveyed 72,000 employers across 33 countries and territories to measure anticipated employment trends between April and June 2009. Detailed country and city wise report is also available. According to the report India is going to recruit the most as compared to any country.
Early sign of recovery:
- Indian companies to hire 2,50,000 in next few months
- Indian outsourcing firms to hire more Americans
- Standard Chattered, StanChart to hire 2000 people
- IT biggies are hiring in huge numbers – Forbes
- India tops the list amongst countries that are hiring
- Hiring trends – The worst is over
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