TEAMLEASE RELEASES QUARTERLY EMPLOYMENT OUTLOOK REPORT

TEAMLEASE RELEASES QUARTERLY EMPLOYMENT OUTLOOK REPORT

Financial services sector hits all time high; 2% increase in overall employment outlook growth; net employment outlook at the highest over last three quarters to touch 84 index points

Mumbai, July 19, 2007: TeamLease Services Private Limited, India’s largest staffing solutions organization, has recently released its fourth quarterly employment outlook report for the period between July – September 2007.

According to the TeamLease Employment Outlook report for the quarter July – Sept 2007, the financial services sector has reflected maximum growth both in terms of hiring prospects and business outlook. The same can be said for infrastructure. The Employment outlook growth for the quarter suggests a 2% increase over last quarter while business outlook remains constant at 90 index points. New Delhi, which has witnessed a downturn over the last three quarters, suggested a positive trend in hiring as well as business at 5% this quarter. Urban hiring remains consistent at 3% for both quarters.

Sector-wise
According to the report, in Quarter 4, companies having intention to hire in Marketing and IT function is high (above 20%) among all the functions. While comparing to all the four quarters, it is observed that there is an upward trend in intending to hire in Administration and IT functions.

City-wise
The report states that IT continues to remain the major contributor of employment growth in Bangalore, Pune and Hyderabad, while ITES is the major contributor for New Delhi and Hyderabad. Manufacturing & Engineering sector is seeing major employment growth in Chennai and Pune and Financial Services is the major contributor of employment growth in the cities of Mumbai and Kolkata. While New Delhi has been consistently negative in its employment outlook growth, it has witnessed a sharp 5% increase this quarter

Hiring levels
According to the TeamLease report, in quarter 4, most of the companies (95%) have expressed considerable intention to hire at Junior level. There is an increase in the companies intending to recruit from middle level and a decrease in senior level.

According to Sampath Shetty, Vice President, TeamLease Services Pvt Ltd, “The financial services and infrastructure sectors have contributed towards the positive business confidence consistently over the last two quarters. With new establishments being set up in the service and manufacturing sectors is a reflection of MNCs continuing to be bullish about the India story and the Indian consumer. The Indian Outsourcing industry broadening their spectrum with new verticals and services has turned favorable in the Delhi NCR region for employment growth.”
“We see the Retail Financial Services continuing to contribute to the business outlook and the employment growth this quarter. The Manufacturing and Engineering sector has seen consistent employment growth over last quarter in the Chennai and Pune region. The employment outlook growth has consistently been positive in urban India. We still see the challenge for Indian Corporate to bridge the manpower demand supply shortfall to leverage this Indian economy growth story,” he added.
While comparing all the four quarters there is growth in employment in ITES Sector in the cities of Mumbai and Ahmedabad. Employment growth in IT is reported in Bangalore and Chennai. Infrastructure Sector and Financial Service’s employment growth is reported in Mumbai and Chennai respectively. The decline in employment growth in IT is reported in New Delhi, Mumbai, Kolkata and Hyderabad. Such as there is a decline in employment growth in Retail Media and FMCG Sector in the cities of Mumbai, Bangalore, Chennai and Ahmedabad. Financial Services and Infrastructure Sectors show a decline in employment growth in Bangalore and Mumbai respectively.