Snap Poll: Upswing, Downtrend or Uncertainty?

Which way is the job market headed? Share your take and view what others have to say.

Vote & tell us…

The job market has felt the ripple effect of recent economic uncertainty, but there are a few signs that hiring activity is picking up. What
  • Uncertainty is here to stay and the market could move either way (44%, 312 Votes)
  • There are early signs of an economic upswing (39%, 275 Votes)
  • The downtrend will continue over the coming months (17%, 115 Votes)

Total Voters: 702

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54 thoughts on “Snap Poll: Upswing, Downtrend or Uncertainty?

  1. There is surely a growth in the economic conditions compared to other countries e.g.the US where the job opporutnity is going on a downgrade trend.

    1. Hi folks!
      I think the job market is picking up as i am undergoing a PG course from XLRI,Jamshedpur, completing end march2012 and have experienced first hand that corporates and conglomerates are rushing to pick up guys from here and also paying as earlier, so much as the best in the industry, check out XLRI placements this year and the picture here is definitely most encouraging. I am myself going in for placements in end march 2012. for more contact me on LinkedIn (Parampreet Singh Gosal) or email me. Remember! Luck also favours the brave.
      -Param

    2. Uncertainity will not prevail for longer period it is onlyl a short term adversity. Every adversity has got its own effects good or bad. example Mr.Chandrasekar was the prime minister of india with the support of Mr. rajv gandhi. the act of a pollice man in haryan spying Mr.rajiv gandhi made to with draw the support to chandrasekar government in the parliment. Government collapsed, elections announced, elections went on, I phase poll completed, LTTE smelt that the future prime ministerial candidate is Mr.Rajivgandhi.Assasinated, II phase the congress was able to bage N number of seats. Mr.Narasima rao non contravertial person was appointed as prime minister. A amll adversity had made as much of changes which has beeen seen in politics

      Ramachandran.V

  2. Competition on supply side of contract and assignment towards job provider generate uncertainty. The downtrend, upswing or uncertainty depend upon the status of the firms under different situations.
    Job seekers are indirectly forced to feel effects, propagate by the firms.

    Alind Saxena

  3. Dear Mr. uday sodhi,
    i understand with my experiences in india and abroad, that,due to financial up and down trends in world industrial sectors the hiring of senior executives recruitment slow downed by thinking of practical promoters who involved in practically pumping the funds and operating the units local and internationally may move definetely another 1 year period.
    regards,
    vijaya kumar.k fm Hyderabad, India.

  4. There are just a few industry categories that are hiring, but there are a load of ones which are either downsizing or just not hiring. This is the scenario globally, but when it comes to India, there is a mismatch between supply and demand (mostly the quality of the HR supply and not the quantity). Education was considered a business of printing degree certificates and distributing, more the merrier. However, recent trends show that a few of these ‘Barons’ have realised it and are trying to make amends. It is high time that we realise that we need to promote ‘dignity of labour’ and create a good pool of skilled technicians of all trades. If every one is looking for white collar desk jobs our growth will be lopsided.

  5. Sir,
    there are early swings in the job market but there is depressing scenario esp for middle level jobs bcoz of talent saturation in the market.
    the recession continues but the ups and highs of economic growth will drive biz seemingly fairly well..

    thanks & regards

    Vivek khare
    +919873006753

  6. I believe, it is more of opportunity market. It means there will not be upward or downward trend. There can be spurt for some time in certain sectors. In general the there will bejobs, but now only people with excellence, innovation will be considered.

  7. Dear Mr.Sodhi
    I agree on the rise in the recruitment of senior positions.In the pharma
    Medical Devices&Healthcare sector ,growth is very high.I observed the big concern on the compensation package.CEO of multinational is drawing 1 cr,professional Indian group pays 60 lacs & family owned group is paying 30 lacs.work pressure &
    Stress levels are highest in family owned management.All focus is required
    To resolve this gap & culture,you need to take this issue on the debating
    Platform.
    Thanks
    Sunil Gokhale
    gokhalesunil8@gmail.com

    1. @Sunil Gokhale

      As Indian organisations realise that their people are their real competitive advantage, this is changing…

  8. The fall in economic growth may not just be a statistical phenomenon. The impact is real. It is already being felt in the job market. A lot of my Consultant friends feel that if we look at the scenario in 2011, hiring in the first two quarters (which had relatively high growth) was on an upswing. The last two quarters were not great because of the slowdown. In 2012, the first six months may not be very good for hiring. There is already a clear slowdown at the middle and higher levels. The first quarter of 2012 is extremely uncertain, all companies are on wait and watch. A lot of companies are also choosing to hire as and when a requirement comes in. Most of them are not hiring in anticipation.
    However, I don’t share the gloom and pessimism on India and am an eternal optimist about the prospect of recovery in 2012. Domestic factors matter more than external factors in determining India’s economic fate in 2012. Interest rates should play an important role. The Reserve Bank of India (RBI) hiked interest rates 13 times by almost 4 per cent between March 2010 and October 2011 in an attempt to curb inflation. The impact on prices has been minimal. Growth has been hit. The fact that the RBI chose to pause its interest rate hikes in its December review of monetary policy has given rise to optimism that rates may actually start coming down in 2012.
    The UP elections may be a game changer and might revive the Congress in the heartland, rejuvenating its leadership and reinvigorating the government at the Centre.
    On the global economic front, too, things are likely to look up. The US economy may begin to grow at least at 2% a year, as much as China’s contribution to global growth, growing at thrice the rate. Eurozone problems may continue, weakening the Euro. Japanese companies will continue to do well, even as the Japanese economy straggles on. Africa and Latin America will join East Asia’s growth bandwagon. Their collective momentum will help India as well.

    1. @Sandeep Wanchoo

      Thank you for a clear and comprehensive overview on the factors that could impact recovery in the year 2012. Though the 2nd half of 2011 did not keep pace with the early half of the year, the collective opinion on the poll suggests there is a pick up.

      It remains to be seen whether this trend will sustain over the next few months.

  9. job market uncertainty will continue always up & down will be. but automobile sector experience people are geting good oportunity..
    regards
    shetty.

  10. it is better to take a good candidate and make him most suitable for a job rather than choosing for most suitable candidate.

  11. With uncertainty looming in the formation of a new government, the Indian economy has finally taken a plunge. How long could the actual figures be hidden by clever statistical manipulations of the FM? It is already happening in China and EU and now we are facing the downtrend. It is a fallacy that there are jobs available in the industry; when the Indian Industry itself is reeling under severe financial doldrums. Only economic growth can predict a healthy job market. The vacancies in mid/senior management positions have been advertised to get better people in each organisation. We have seen the result of mis-management in the likes of Kingfisher. In these difficult times only a seasoned financial wizard at the helm of a company will be able to keep his assets afloat. Otherwise like the rest of the EU they will perish. This trend is bound to continue till the end of this year. Hopefully a truer picture will emerge once the new Government has settled down and given SOPs to the Indian industries.

  12. There are variety of signals in different segments. For instance the IT sector seems to be on the upswing and similar is the case with realty sector. However, the manufacturing sector is showing signs of slowdown. Given the situation obtaining due to economic slowdown in EURO currency area and the Iran vs US conflict, there are uncertainties on the international economic situation which might cause substantial negative effects on the Indian Economy as well, thereby affecting job market . Another factor to be viewed is the US proposals to tax heavily all those businesses who resort to outsourcing.

    1. @Omprakash Anand

      We appreciate your thoughts – industry-specific trends do need to be closely watched.

  13. Mr. Sodhi I fully agree with you and look forward for an opportunity to offer my services as CEO/ Director to any MNC or a local corporate . Regards.

  14. To see the construction activities in different fields, going on in a Country, development of that Country can be envisaged.
    So, if there more and more projects come up in different fields in our Country, economic upswing will be there.

  15. Indian economy will not have much effect of europe or America .We have lot of potentials and huge population,which can sustain in future.

  16. In difficult time,usually hiring for senior management positions witness a surge,since corporates look for solutions desperately.So far as the IT Industry is concerened the attrition within probably leads to more hiring.I don”t believe the IT Industry is on an up swing.

  17. Earlier downtrend seems to have receded. World situation is also showing signs of
    improvement. Worst is over for US. Problems of EU are getting slowly solved. World
    cues do not seem to show any effect on Indian economy. After a possitive budget, some of the problems being faced by Indian economy may get solved. Surely, 2012
    should be betterthan 2011.

  18. Is the sun rising at its set time – it is – are the tides at sea following their time table relentlessly – when everything in nature is following its own set pattern – it means that nature had no role in economic down turn. It was greed of some that led to to all this mess. And human mess is fastest cleared by the ones who created the mess and they are all working at it.

    Look at the Positive Picture – even if it is not evident from the picture in front of you.

    Cheers

  19. We would need to look into the macro-fundamentals objectively to understand the dynamics and take an informed call.

    1. Real fiscal deficits are enormous in the Indian economy and are ever burgeoning with no clues to solve the impasse save some minor efforts in mopping up PSU wealth or whatever is left of the so-called “PSU cash”.

    2. The efficiency in creating capital and resources has been abysmally poor in the light of mindless asset growth or inorganic borrowals/credit and low utilization of capital asset efficiency factors across the critical sectors of the economy – infrastructure, manufacturing and metals.

    3. Credit growth in the last decade had been phenomenal and have eroded the net worth of major corporations owing to low asset realization and high interest costs. There have been major defaults in a chain and the NPA holdings of the banking industry across sectors – both private and public have weakened the monetary structure significantly leading to imbalances that are hidden and are only known partially to the public.

    These, being the major factors for a stubbornly high inflation rate and negative real growth, have adversely affected the current account deficit too.

    We are pehaps on an irreversible process of decay and financial disruption on a scale that is frighteningly large; perhaps larger that what has hitherto been seen in the USA or EU in recent years.

    For sure, we are into very difficult times. The damage has already been done and we should not delude ourselves into believing that an upswing is just round the corner.
    For all I know, we are on a downhill and that too on a fast track!

  20. Atleast I have seen with my previous employer, a prominet Captive in India. First, they have given the one-shot bonus and raises (and pretty decent %age) with a message that there would not be any separate bonuses from next year, and on the other hand they are asking people to leave (many of my colleagues have felt this heat).

  21. I think it is the time to get ready for H-2 phase of business in the financial year 2012-13. Hence job market will definitely improve and is already showing the trends/off shoots. Good companies will take the advantage and hire talented executives and be ready for recovery/business growth. Other companies will miss the boat if not prepared for this strategy of hiring.

  22. Being in the Automobile industry , I have no second thoughts of the upswing which is clear and pronounced.

  23. Economy is under performing and the forecast doesn’ t give any positive results both nationally and internationally. Unemployment rate is skyrocketing in developed countries and keeping a slow pace in developing countries. Political situations globally are also seems to be downward pulling .

  24. This spell of an upswing will continue for some time to come, with the Indian companies pushing for greater achievements all around in each sector. India is on an upswing by far as I see it from the conditions prevailing amongst our neighbouring countries. NRI’s working in the Middle East are looking homeward in an effort to catch the dividends before its too late. India has done very well in the past 30 years for sure.

  25. GDP GROWTH OF OUR COUNTRY REDUCED DUE TO VARIOUS REASONS, BUT MAIN ITEMS ARE :
    1. DEPLOYMENT OF WRONG PRODUCT MIX OF
    EXPERIENCE AND NON-EXPERIENCE STAFF
    2. NON EFFECTIVE POLICY IMPLEMENTATION
    3. PLAYING – SAFE GAME POLICY BY RBI/FD
    4. NON GIVING OF ATTENTION ON SUPPLY
    SIDE.
    THERE ARE MANY MORE

  26. While hiring at senior levels , particularly in energy / engineering sectors continue,the contribution by the recruits is not at expected levels for various reasons. IT sector is altogether a different story .The Government and Industry must give priority to energy / manufacturing / production sectors even if we cannot catch up with China.Both the government and industry must change their out look.
    Otherwise it will be downward trend only.

  27. hey uday,
    this is the correction and consolidation phase, the world over. Like in normal scenario the correction phase will also witness effective and not so effective remedies,stimulants and tightening measures.The growth or recovery will not be depicted by a straight line graph. it will have some kinks but the direction will be upwards. The hiring trends indicate the same rationale. the managers are being replaced by the more effective ones. Decision makers have realised that the recipe is to consolidate with the leaders who are more perceptive, aware of the current realities and shortcomings and are able to foresee aa well as articulate the vision. So many individuals and organisation when acting together to achieve a common goal can not but succeed.
    Of course, the ideas, solutions and the managers to prosper will have to be new and different.
    regards

  28. Indian employees need to enhance there productivity to be in business across industries. Like our government and political framework there are significant inefficiencies at various levels in our work force.

    Proprietory sanity needs to be displayed by senior executives in organizations to protect value erosion from the bottom line. I am traveling has become a fashionable statement these days without thinking the real need of it.

    Amit Gupta

  29. the policy paralysis of GOVT followed by NO RISK taking policy of beuraucrats has brought decision making to a complete standstill. except little bit of head hunting and poaching by few ingenuous HR professionals there is little happening on new jobs creation.

  30. The market is going to be volatile and we will have to learn to deal with it . The days of long upswings and down swings are over and now the cycles will be frequent . So prepare to build in flexibility to deal with the variability .

  31. There is a positive hope in the market in manufacturing sector due to obvious reasons. Hiring of people at senior position will observe similar trend. I remember saying from book :Good to Great” about growth plan is directly linked with the capacity of an organization to HIRE RIGHT PEOPLE.
    In my opinion we will see a good growth in hiring senior position in manufacturing, Agri related activity, Pharma and more…

  32. The Need for Demand & Supply will be always there & person of right Caliber will be respected .Infact same time market buying capacity is improving which is always a good sign for improving trend .

  33. Hi everybody,
    I think the job market will speed up its hiring activity between the period Apri-June 2012 as most of the approved budget will be in place and company HR will strive their best to recruit the right People .
    But the saddest part which I am seeing for the last few months is company is giving their advertisements and they are closing the job by doing internal recruitments through reference thereby creating a very tough competition for the candidates to find a new job of his choice.
    Unless this stops my personal opinion is candidates will be having a tough time to find a new in the coming 3 to 4 Months.
    be flexible in your choice and you will see that you find the right job .
    All the best to all you who are looking for a new opportunity.

    1. @Ramanan

      It may be that you might have come across organizations that hire people internally or via references. However we suggest that when giving an interview, your resume should showcase your strengths, achievements and experiences well.

  34. There is a positive hope in the market in comstructions&infrastructural reasons. Hiring of people at senior position will observe similar trend. I remember saying from book :Good to Great

  35. The volatile nature of the job market is a direct indicator of the shift in equilibrium.
    But it also increases the opportunities to be more innovative and creative as it is a matter of survival. The myriad ventures mushrooming is a clear evidence to that fact.
    Not the fittest but the most creative/innovative person only can survive.

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