Indian entrepreneurs more bullish on hiring

By siliconindia   |   Friday, 19 November 2010, 08:29 IST
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New Delhi: According to a survey conducted by workplace solutions provider Regus, Indian entrepreneurs are more bullish on recruitment than their counterparts abroad, with 40 percent of entrepreneurs surveyed saying they will go on a hiring spree in the next six months compared to the 36 percent overseas. The survey examined the opinions of over 5,000 entrepreneurs across 78 countries asking them about their recent revenue and profit trends, along with their intentions to hire in the coming six months. The survey further noted that entrepreneurs worldwide are more prepared to take the gamble of growth and recruit new staff than larger companies. The survey found that in India SMEs account for 45 percent of industrial output, employ over 60 million people and are expected to contribute 22 percent to the growth of the economy by 2012. In addition, the survey found that entrepreneurs are more likely to be flexible about work location (76 percent) than businesses overall (66 percent), which indicates that accommodating staff needs is a priority that must be met for SMEs to secure top talent. In India, 78 percent of businesses are flexible about their employees working location, 37 percent intend to add staff, and fully 60 percent of businesses plan to hire mothers returning to the workforce. "India can boast more positive indicators than some other regions, and micro, small and medium enterprises, accounting for almost 80 per cent of employment and 35 per cent of exports, show strong signs that they do not intend to step out of the limelight once the full momentum of the recovery begins," said Madhusudan Thakur, Regus Country Head. Rather than cutting human resources, SMEs are choosing to increase flexibility of location and reduce fixed office space in order to attract and reward top staff who will benefit from working closer to home, Thakur added.