Skip to main content



The upcoming general elections are set to play a key role in the job market, with HR experts pinning their hopes on a stable government to help create over two million new jobs and boost hiring activities by 30-40 per cent this year. As per estimates of various human resource consultants and executive search firms, India Inc need to hire 12-14 lakh new workers in 2014 to meet their existing business needs. However, hiring activities may accelerate substantially if the Lok Sabha polls results in a stable government with minimal alliance partners and consequently more than 20 lakh new jobs can be created during 2014, consultants say. Across various sectors, companies in India are estimated to have created over 10 lakh new jobs last year, but weak economic trends also resulted in large-scale layoffs and considerably cut into net job market addition during 2013. In the run-up to polls, which begin tomorrow and will continue till May 12, the job market has already seen a major upsurge in demand for professionals in areas like media, PR, event management, market research and social media as political parties spend big-time to woo voters. However, most of these hirings are temporary in nature and any major boost for permanent or longer-term employment opportunities would largely depend on poll results, which will be announced on May 16. Experts believe that future hiring activities would get a major boost if verdict is for a stable government with minimum allies, as such an outcome would lead to an increase in investments and add to the economic growth momentum. "A stable government with minimal allies shall definitely contribute towards a positive job landscape," said Rituparna Chakraborty, Senior VP & Co-Founder of leading HR consultancy firm, TeamLease Services. Chakraborty, who is also President of Indian Staffing Federation, said that India needs to create jobs in excess of two million this year. Echoing similar sentiments, leading executive search firm GlobalHunt's Managing Director Sunil Goel said that new job creation may witness 30-40 per cent growth if the polls results in a clear verdict. "A full majority for any political party will bring the firmness and long-term good policy impact to grow the economy and create job opportunities in the market rather than just having the policy to get vote bank," Goel said. Going by various employment index, the Indian job market is showing an improvement on a month-on-month basis since the start of this year. The Employment Index, a monthly gauge of the country's online job demand, is on an uptrend since October 2013. 
Surveys conducted by leading job portal also show similar results. According to the portal, hiring activity in India saw significant improvement in the first two months of 2014 and this momentum is likely to pick up significantly going forward once the uncertainty around elections are over. HR experts said that the Indian economy is already showing signs of growth and a revival of manufacturing sector can exponentially improve the organised employment landscape. Many political parties have also made tall promises around the job market. The worrying factor remains, however, that there seems to be no clarity around the path towards fulfilling these promises, experts said. While every political party may commit itself to creating new job opportunities, it may be difficult for any ruling party to implement their plans if there are five or 10, or even more, coalition partners as that might put a question mark on the stability of such a government. In such cases, even the global investors' confidence goes down and they remain in wait-and-watch mode till the time they get convinced for their investment returns, which in turn creates lot of job opportunities, GlobalHunt's Goel said. Irrespective of which government comes to power, the actual boost to the job market would not come from the government-sponsored guaranteed employment schemes, but would need job creation in the organised sector, the HR head of a leading corporate house said. This can be possible only through revival of manufacturing sector and through greater emphasis on infrastructure development and by rationalisation of labour laws, he added. According to ManpowerGroup's latest Employment Outlook Survey, India has emerged as the most optimistic nation in terms of hiring plans for the next three months and sectors such as aviation, IT & ITeS and retail are likely to see an increase in payrolls. Employers across most sectors in India had been apprehensive about hiring due to uncertainty in overall business environment. However, things are expected to improve in 2014, found the survey which covered 5,302 employers in India. 


Popular posts from this blog


The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
There are 29 pu…


Leading businessman Anil Ambani today said more than creating wealth for himself, his father late Dhirubhai Ambani derived greater happiness from creating wealth for masses. "If you ever asked what part of being an entrepreneur he (late Ambani) enjoyed the most, he would say, 'I enjoy creating wealth. But what I enjoy even more is in creating wealth for the people of the country,'" the Anil Ambani Group chairman said while addressing an industry event here. It can be noted that the late Ambani, who had a humble beginning as a primary school teacher's son in Gujarat, is regarded as the father of capital markets and the equity cult, who made millions of investors millionaires with the IPO of Reliance Textile Industries in 1977. A person who had put in Rs 1,000 then in the IPO is worth over a million today, going by the price of RIL. Stating that the launch of Kothari Pioneer Mutual Fund, which was country's first private MF in 1993, was his (Dhirubhai's) id…


Gripped by fear psychosis due to geo-political aftershocks, key stock market indices were on a sticky wicket for the fifth day today as both Sensex and Nifty fell over 1 per cent to hit their one-month lows. The sharp plunge left investors poorer by over Rs 95,000 crore as the market cap stood at Rs 1,27,08,846 crore. Risk appetite took a hit after the Economic Survey said achieving the high end of the 6.75-7.5 per cent growth projected previously will be difficult. This is markets' first weekly fall in six.
Weakness in the rupee against the American currency and lacklustre global shares dragged down the indices, too. The BSE 30-share Sensex remained in the negative zone and settled down 317.74 points, or 1.01 per cent, at 31,213.59, its weakest closing since July 4. The index had tumbled 794.08 points in the last four sessions. The NSE Nifty after cracking the 9,700-mark to hit a low of 9,685.55, finally settled lower 109.45 points, or 1.11 per cent…