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Indian companies mull 15% manpower increase
About 43% companies in India plan to increase their manpower by up to 15% in the current fiscal, a survey of 779 companies across sectors by Genius Consultants has revealed
MUMBAI: About 43% companies in India plan to increase their manpower by up to 15% in the current fiscal, a survey of 779 companies across sectors by Genius Consultants has revealed.
In the Hiring, Attrition and Compensation Trend 2016-17 survey, the findings of which have been shared exclusively with ET, about 17.7% of the respondents said they will increase their intake 16-24% while nearly 10.6% firms said their recruitment will increase 25-30% and close to 8% said the figure will be more than 30%. Nearly 20.35% companies said they do not intend to increase their staff this fiscal. Around 45.13% respondents said that both new vacancies and replacement hiring will take place, said RP Yadav, chairman of Genius Consultants. About 21.24% respondents said new jobs will be created while 18.58% said only replenishment hiring against attrition will take place. The survey is conducted every year to gauge hiring trends across sectors.
Employees with four-eight years of experience will have the most opportunities this year, according to 44.25% organisations surveyed. As per 46.9% of the organisations 5-10% is the normal range of increments in the current fiscal. The organisations surveyed said they anticipate hiring about 68% male and 32% female employees this year.About 38.05% companies said they expect 5-10% attrition level this year while 52.21% said the junior level employees are most susceptible to attrition.
In terms of regional trends, 46.9% of companies across the country said that the southern region has the brightest hiring scenario, followed by the northern, western and eastern zones. It is crucial to conduct background verification checks of potential recruits before filling up key positions, 64.6% respondents said. However, 66.37% said using analytical tools such as psychometric tests for recruitment is still not the norm in India.
source: techgig.com
