Jobs are back! India Inc on manhunt drive as slump eases

However, experts say it is too early to say that the situation has returned back to 'normalcy'. "We see the movement happening across the sectors and it looks like worst is over.

But the current scenario cannot be considered as normal but it is better than bad," executive search firm GlobalHunt India professional leader Sunil Goel said. If everything goes fine then it will take a year to reach to a normal situation, he added.

In last two quarters (January–March and April–June), hiring was almost 0–5 per cent across industries but in current quarter, average hiring has increased 5–15 per cent across industries. Sectors like telecom, infrastructure, life sciences and energy have witnessed 25–30 per cent rise in hiring in the second quarter against the first quarter of this fiscal. Meanwhile, IT, retail, banking, consulting, FMCG have seen 8–10 per cent hiring in the September quarter compared to the previous quarter. "With the economy showing signs of recovery, there is cautious optimism in the job market and going forward, the coming quarters are expected to be better," an industry expert said.

Companies have started executing their new business plans and are expanding. At least people are not losing their jobs and at the same time there are alternate opportunities available for further career progression, experts said. Meanwhile, a survey by leading job portal Naukri.com has revealed that India Inc's hiring activity has picked up 8 per cent in June and a further 1.3 per cent in July this year.

Besides, the latest employment outlook survey by global staffing services firm Manpower also substantiates the bullishness in the job market, with as much as 25 per cent of the employers showing an intention to recruit people in the next three months of this year. The survey said that job seekers in finance, insurance, real estate, services, wholesale and retail trade, public administration and education, and construction segments can expect favourable hiring environment.

"The next quarter looks good for those people who have lost their jobs during slowdown. They will always be preferred than college students. Volume may come back in a year’s time from current market trends," Goel added. The optimism in the job market is also visible in the United States. As per a survey by global career transition and coaching firm OI Partners, American firms are looking to re-hire employees they laid off in the past, mainly in the finance and manufacturing sectors.