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Indian companies to hire more
By siliconindia
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Wednesday, 07 November 2007, 20:30 IST
New Delhi: For the next three months beginning November 2007, Indian businesses will continue to hire vigorously even it fears of global slowdown, according to a McKinsey survey of global executives on the economic and hiring outlook.
The survey revealed that more than 40 percent of the respondents expect to add workers in the short term. It received responses from over 2,500 executives around the world.
The survey comes at a time businesses across the globe have recently felt the global effects of the sub- prime crisis in the United States credit markets and executives reported a sharp drop in near-term economic confidence. In addition, according to the survey, most of these new jobs will be created at home, not abroad.
This shows slight transition in trends, particularly in emerging markets like India, since the previous survey, released in July, indicated that most jobs in these countries will be created abroad.
However, even then, more than two-thirds of the respondents expected these jobs to consist of new functions. Only a quarter said that most new jobs created abroad will be the same as those now performed at home.
The survey indicated that more than half of the respondents in India and other developing countries expect inflation to remain stable over the next six months. Whereas nearly three months ago, only a fifth of the respondents in these countries expected inflation to remain stable.