Senior human resource ( HR) managers are of the view that the gloomy global economic scenario will have a limited and short- term impact on hiring in the Indian information technology ( IT) sector as the industry is better prepared to deal with the current slowdown, says a survey by job search portal HeadHonchos. com." As many as 62.9 per cent of the respondents do not expect the global economic scenario to impact hiring plans, while 37.1 per cent of HR heads surveyed expect a cut back on hiring," the survey said.
As a measure of confidence, nearly 92 per cent of the respondents said they believe that the impact will be limited to the next six months and only 8.1 per cent expect any long- term fallout, the survey said.
About 4.9 per cent companies expect that the impact will be felt over the next two years. Only 3.2 per cent of all respondents expect employment to be impacted over a two- to five- year period.
"The hiring outlook for the IT industry is holding steady and feedback from companies indicate that they are better geared to deal with the challenges ahead," Uday Sodhi, chief executive officer ( CEO), HeadHonchos. com, said.
"HeadHonchos has seen good traction in terms of IT jobs for mid- management and senior candidates over the last six months and companies on our job portal are going ahead with hiring decisions," Sodhi added.
Around 64.7 per cent of respondents in Delhi- NCR (national Capital region) and 72.7 per cent of the respondents in Bangalore indicated that hiring plans will not be affected.
In contrast, only 33.3 per cent of the companies in Mumbai anticipate that the global economic scenario will not impact hiring plans, HeadHonchos said, adding that those organisations that plan to reduce hiring expect the impact to be felt across all levels.
However, other hiring firms have indicated some slowdown given the current economic conditions.
Meanwhile, leading job portal Naukri. com said the employment market was seeing a slowdown, with sluggish hiring activity amid economic uncertainty and rising inflationary pressures.
The sectors where recruiters have indicated some slowdown are telecom, financial services, construction and auto sectors primarily on spiralling costs, interest rates and inflationary pressures
As a measure of confidence, nearly 92 per cent of the respondents said they believe that the impact will be limited to the next six months and only 8.1 per cent expect any long- term fallout, the survey said.
About 4.9 per cent companies expect that the impact will be felt over the next two years. Only 3.2 per cent of all respondents expect employment to be impacted over a two- to five- year period.
"The hiring outlook for the IT industry is holding steady and feedback from companies indicate that they are better geared to deal with the challenges ahead," Uday Sodhi, chief executive officer ( CEO), HeadHonchos. com, said.
"HeadHonchos has seen good traction in terms of IT jobs for mid- management and senior candidates over the last six months and companies on our job portal are going ahead with hiring decisions," Sodhi added.
Around 64.7 per cent of respondents in Delhi- NCR (national Capital region) and 72.7 per cent of the respondents in Bangalore indicated that hiring plans will not be affected.
In contrast, only 33.3 per cent of the companies in Mumbai anticipate that the global economic scenario will not impact hiring plans, HeadHonchos said, adding that those organisations that plan to reduce hiring expect the impact to be felt across all levels.
However, other hiring firms have indicated some slowdown given the current economic conditions.
Meanwhile, leading job portal Naukri. com said the employment market was seeing a slowdown, with sluggish hiring activity amid economic uncertainty and rising inflationary pressures.
The sectors where recruiters have indicated some slowdown are telecom, financial services, construction and auto sectors primarily on spiralling costs, interest rates and inflationary pressures
