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Despite the downturn, the
Indian economy continued
to grow and more than 60% of the companies in India
kept on hiring. According to a study that covered 375 Indian
listed companies, three out of every five companies in India added people
in the financial year 2008-09. As many as 200 companies ended the
year with more employees, as against 150 that saw a decline in numbers.
India's national income grew by 6.7% in this fiscal, making it the
second fastest growing economy in the world. The ability of the
public sector banks to pull retail borrowers from the private sector banks
led to the expansion of business of the former. SBI was one of the
biggest recruiters in 2009.
With signs of recovery becoming more evident, hiring seems to
be picking-up in many companies. HCL Technologies
recently announced its plans to hire close to 2,000 software professionals
soon. Tier-I technology firms are hiring in small numbers and some
other sectors, like product engineering, are also putting together
their manpower requirements. Manpower consultancy firms also seem to
be receiving more open positions.
However amidst all these signs of improvement, there is a sense
of cautious optimism and companies are focusing on finding more
cost-effective ways of conducting operations. Hiring is not
untouched by the same. Companies are resorting to cost-effective hiring
by using strategies like just-in-time hiring, hiring in relatively
small numbers, etc. Experts suggest that during these times of
cost-cutting, recruitment advertisements remain a major concern because of the
cost associated with them. |
