Hiring activity is probably going to stay steady in 2019-20 as corporations will concentrate on replacement hiring followed by new recruitments, providing opportunities for freshers, according to a survey. nearly 58 per cent employers have a positive outlook on hiring, whereas only 10 per cent of employers said layoffs are on the cards, according to the ‘8th Hiring, Attrition and Compensation Trend 2019-20’ survey by Genius Consultants.
Only some employers have a negative outlook on hiring during this fiscal year, it said.
The survey additional disclosed that the northern zone can offer the most opportunities for job seekers, followed by alternative regions.
“The overall business sentiments showcase a positive outlook of the market. The hiring situation appears encouraging with negligible employees reduction and no hiring policy of the organisations,” Genius Consultants Chairman and director R P Yadav said.
Around 67.52 per cent, respondents believe that women hiring are going to be wedged due to the modification to the Maternity benefit Act 1961 that protects the employment of women throughout the time of her maternity and entitles her to ‘maternity benefit’.
Embracing the importance of AI, the health care sector can produce 40 per cent of opportunities in terms of employability, followed by marketing and human resources, the survey disclosed.
Streamwise, engineering remains at the highest of the list with the very best employability rate, followed by graduates and MBAs, it added.
The survey said organisations are coming up with employee welfare schemes, rising the working atmosphere, reskilling the present workforce, among others, for employee retention.
Moreover, several corporations are looking at providing increments to their staff.
Around 46 per cent of corporations expect increment between 10 to 15 per cent, whereas around 32 per cent assume the increment can vary between 5 to 10 per cent, it said.
Only a few employers assume that the increment is going to be less be than 5 per cent or over 20 per cent, it said.
Further, the survey said that junior level staff are going to be a lot of susceptible to attrition than mid-level and senior staff, and also the western zone can lead during this aspect.