It also revealed that automobile, telecommunication and healthcare followed IT on hiring with about 15 per cent growth and closely on salary raises. It takes into account variety of attributes that govern the dynamics of temporary employment market – skills, salaries, increments and longevity.
Interestingly, the study found, though the industry may not be cautious anymore while hiring, they are being very choosy while rewarding talent. Probably some lessons learnt from the recession. “Salaries have risen across industries and cities, in general, but the spoils are not shared across the board — businesses have begun to incentivise smartly and cherry pick to acquire and retain valuable talent,” it said. Among all cities, Bangalore has strengthened its number 1 position with an enviable salary growth rate of 8.3 per cent. Mumbai (7.8 per cent) retains the second place and Delhi (7.3 per cent) reclaims the third place from Chennai.
Salary hikes
Salary raises are now spread over a larger set of profiles across industries and cities primarily because of the rush and need for skills and the right talent.
The report also noticed a new trend of multiple clusters of high-skilled, high-paid profiles mushrooming in 12 of 14 cities covered in the study. Automobile, FMCG, food & hospitality, ITeS and retail lead the new charge in pay-for-skills department while agriculture / agrochemicals, FMCD and healthcare continue to improve on their ability to identify, assess and reward skilled talent.
As demand for jobs sought and new sectors opened up, the rate of attrition has also gone up, the report said. India currently has an estimated 90 million people in temporary workforce of which 500,000 works in organised sector. Indian temp staffing industry has added 75,000 jobs in 2010.
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