Ma Foi Randstad is world’s second-largest provider of HR services. They had recently undertaken an extensive study on compensation & benchmarking exercise covering ITI diploma holders skilled in welding, machining, fitting and assembly across 45 Auto component companies in the country. This report provides a detailed analysis of the monthly compensation packages provided across India to workers in the auto-components industry.
Online PR News – 19-June-2010 – – New Delhi - Thursday, June 19, 2010 – Driven by India’s economic turnaround post downturn, hiring in the organized sector is set to pick up at a greater pace in the second quarter reveals the first quarter results of the Ma Foi Randstad Employment Trends Survey.
The findings of the study for the period of January – March 2010 was released by Mr. K. Pandia Rajan, CEO, Ma Foi Randstad (India & Sri Lanka), at a press conference held in the city today.
Ma Foi Randstad is the leading integrated HR services provider in the country and has been conducting the employment trends survey since 2004. This study is India’s largest job market study.
In March 2010, Ma Foi Randstad predicted creation of 1 million jobs in the year 2010.The latest projection for the period of April to June (Q2) and estimates of actual job creation in January to March 2010 (Q1) for the organized sector was arrived at, after surveying the employment trends in 650 companies across 13 industry sectors in eight major cities - Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune. These companies were queried about (a) hiring in the first 3 months of the year and (b) hiring intentions over the next 3 months.
The study reveals creation of 1,53,564 jobs during Jan - March 2010 and 3,47,463 jobs are getting created in the period of April – June 2010.
Sector-wise Employment Trends:
According to the survey, the employment trend across all sectors – BFSI, IT & ITES, Pharma, Healthcare, Trade including Consumer, Retail & Services, Energy, Transport, Storage & Communication, Real Estate & Construction, Hospitality, Media & Entertainment, Non-Machinery Manufacturing, Manufacturing of Machineries & Equipments, Education, Training & Consultancy are on the same card in the first quarter and are expected to continue at a faster pace in the second quarter.
The recovery from economic crisis has further strengthened the momentum of the Healthcare sector which has reported the greatest employment generation of 52,752 new jobs in Q1, followed by Hospitality with 21,500 in the same period. Education, Training & Consultancy sector added 16, 200 new jobs in Q1.
Projection for Q2 is that healthcare sectcor again will add the largest number of new jobs – 96248. Real estate and construction sector is estimated to add 52115, the 2nd highest job creator in the economy. This will be closely followed by Hospitality sector that is estimated to create 49000 jobs. IT and ITES sectcor is estimated to add 34000 new jobs; Media and entertainment sector to add 28700 jobs; Education, Training and Consultancy to add 23200 jobs. Non-machinery Manufacturing (17,300), BFSI (15,800), Transport, Storage and Communication (8,800), Pharma (6100), Energy (5,900), Manufacture of machiney and equipment (5300) and Trade including consumer, retail and services (5,000) are expected to pick up hiring momentum in Q2 of the year.
There is a significant increase of hiring intentions in Q2 vis-à-vis Q1 for sectors of Real Estate and Construction, Media and Entertainment and Healthcare.
City-wise Employment Trends:
Delhi & NCR is expected to add 38, 350 jobs (added 17650 in Q1 and likely to add 20700 in Q2) by June 2010. The expectation of better performance across sectors has increased optimism among companies, resulting in increase in hiring intent. Mumbai is expected to add 27, 650 jobs (12750 in Q1 and 14900 in Q2) and Chennai is expected to add 11,900 jobs (5600 in Q1 and 6300 in Q2) by June 2010. Following these top three cities are Kolkatta – 8350 jobs, Bangalore – 6800 jobs, Hyderabad – 6200 jobs, Pune – 5400 jobs and Ahmedabad – 3260 jobs.
Sector-wise Fresher / Experienced Hiring:
Healthcare sector is creating the most number of new jobs for the freshers (36.7%) followed by BFSI (34.1%) and Manufacturing of Machineries & Equipments (29.4%). Among the cities, Delhi & NCR is leading the job creation for freshers with 34.6% followed by Ahmedabad (32.1%), and Bangalore (29.7%). Nearly 75% of total jobs created will be for the experienced professionals and freshers are expected to fill the rest.
“The growth of the employment in organized sector was certainly affected by the downturn and diverted from its course of higher growth. However, revival of economy has brought back positive sentiments and the organised sector is back on hiring mode. Stable growth coupled with several positive policy measures by the Government has put the economy back on track and the industries have regained their confidence with higher output and profit levels. In addition to job generation and increase in salary levels, we also expect intra-sector movement of skilled workforce.” said Mr. K. Pandia Rajan, CEO, Ma Foi Randstad (India & Sri Lanka).
The structured analysis of MEtS was administered by India’s leading economic research firm Indicus Analytics, which is headquartered in Delhi.
The Ma Foi Randstad Employment Trends Survey (MEtS) is a study on Indian employment trends and opportunities conducted by Ma Foi Randstad. Started in November 2004 by Ma Foi Management Consultants Ltd. Till 2008, MEtS was usually conducted once in a year. Considering the fact significant shifts in employment trends are being witnessed within a year’s time, the employment survey has been decided to be conducted every quarter. This will enable capturing the changes in employment scenario in India from one quarter to another and help decision makers to course-correct, if any.
The present survey captures the employment situation in the organized sector for the quarter January to March 2010 and the likely scenario for the next quarter, i.e., April to June 2010. The feedback was gathered from the top HR personnel or top management of the companies who could share the current and the likely scenario regarding employment related issues. The major parameter captured in the survey is change in hiring pattern or employee numbers.
For more information see http://www.mafoirandstad.com/
For further information, please contact:
Sr. Manager – Marketing & Communication
Ma Foi Randstad