t’s something most people love to whine about and, yet, if they land the right match, find it impossible to let go of.
No, we aren’t talking about marriage. It’s your job: hard to snag, difficult to sustain, and traumatic in case of a loss. It’s a cage of concern that most people remain trapped in for as long as they work.
The worries mount if the job scenario is anything like the one witnessed by the country since last year, with mass layoffs, downsizing, especially in IT sector
Steep fall in hiring, but outlook positive
The Net Employment Outlook is 21 percentage points weaker compared with last year, but with 16% of employers expecting a rise in hiring, 1% likely to see a fall and 61% expecting no change, the outlook is positive at 15%.
The firings that began last year, with Cisco, IBM, Microsoft and Symantec letting go of thousands of employees, have continued this year, with Wipro, Infosys, Cognizant, HCL Technologies and Tech Mahindra giving pink slips in large numbers. Combined with the slowdown in hiring, many employees find themselves out of jobs and in a dilemma over what to do next
The fact that hiring in other sectors was also affected is evident from the sharp fall in the net employment outlook in the past year, according to the ManpowerGroup Employment Outlook Survey for the third quarter of 2017. The outlook has witnessed a steep drop of 21 percentage points, from 36% in the third quarter of 2016 to 15% now. This, despite the fact that India currently ranks seventh among the 43 countries surveyed for hiring outlook.
In spite of the prevalent gloom and doom, most experts and studies are predicting a positive hiring season in the near to medium term. “There is some ripple effect of the IT sector, but not every sector is laying off people due to market demand. These are primarily because of performance and productivity reasons,” says Neeti Sharma, Senior Vice-President,TeamLease Services. “Large businesses are the least affected and are set to hire more during the coming year, while smaller businesses are wait and watching. While IT, engineering and firms with blue-collar roles are likely to hire more people in the coming year, fewer sales and marketing jobs would be created over the next few months,” she adds.