40 percent Indian firms plan to hire in Jan-Mar

New Delhi: Two in every five Indian companies plan to hire in the first quarter of 2010, giving yet another indication of the high confidence levels among the country's corporates after the economy staged a faster-than-expected recovery from the slowdown.

According to a global survey conducted by consulting firm Manpower, India topped the list of countries in intention to recruit for the January-March period next year. The survey showed that Indian companies are more bullish about the future, with the number for January-March period reporting increased intention to hire than the quarter ending December 2009.

The service sector witnessed the biggest jump in hiring intent, with 20 points over the last survey. Bullish hiring intention was also spotted in sectors such as public administration, education, mining and construction. Companies in finance, insurance and wholesale and retail trade also reported strong hiring intent.

The weakest hiring pace was reported by employers in the transportation and utilities sectors, where less than 30 percent of the employers showed an inclination to hire in the three-month period, reports Economic Times. However, all the sectors recorded an increase in hiring intent compared with the year ago period.

"As Indian employers continue to express growing confidence, we are witnessing improved opportunities for job seekers across all industry sectors. Employers indicate that hiring in India's service sector will accelerate at a dynamic pace in the coming months," said Naresh Malhan, Managing Director of Manpower India. The survey, which covered more than 5,100 employers across 30 cities in India, revealed that India's net employment outlook stood at 39 percent, the highest in the world. This is an increase of 11 points over the last quarter of 2009.

Among the various sectors in the country, services has emerged strongest in hiring intentions, with nearly half of the companies surveyed expecting to hire in the January-March period. At the regional level, employers in the North reported the strongest hiring intentions, where nearly one in every two employers said they plan to hire. Employers in the West and the East reported equal hiring intentions followed by the South. Hiring intent has improved across all regions in the latest survey.

The global survey also said that employers in 25 out of 35 countries reported positive hiring intentions for first quarter. The most optimistic employment forecasts after India were reported by employers in Brazil, Singapore, Taiwan and Australia.