NEW DELHI, July 22:Hiring activities in the country are likely to slow down from September onwards unless efforts are made on the policy front to tackle economic sluggishness, according to leading job portal Monster.Com.
“Right now, there is a kind of caution creeping in (among companies) when it comes to hiring in India,” Monster.Com Managing Director (India/Middle East/Southeast Asia) Sanjay Modi told.
The Indian economy has been witnessing industrial slowdown and high inflationary pressures. Further, investors’ apprehensions about certain policy measures are dampening overall corporate sentiment.
“I expect hiring activities in the country to slow down from September onwards, unless policies are rolled out that would help in tackling overall economic slowdown,” Modi said.
It usually takes a few months before the broader slowdown effect is visible in hiring activities as companies would wait for sometime before changing their recruitment plans, he noted.
In June, the Monster Employment Index India—a monthly gauge of hiring trends online—had slipped to 128 compared to 129 in April.
The country’s GDP growth dropped to a nine-year low of 5.3 per cent in the first three months of 2012.
Also, the index of industrial production (IIP) grew just 2.4 per cent in May this year, way below 6.2 per cent expansion in the year-ago period.
Further, price rise continues to be high. In May, the retail price-based inflation touched 10.36 per cent.
Meanwhile, Monster.Com is working on various initiatives aimed at helping college students to improve their employability skills.
“We will launch the Testing and Assessing tool for college students next month. It would initially cover about 2,500 engineering and management institutions,” Modi said.
The new tool would help students to assess their capabilities in terms of employability and focus would be on those in their final year of study, he added.
He pointed out that employability is a major challenge faced by students in the country.
Monster.Com has already launched ‘Monster College’ initiative that aims to bring efficiency into campus recruitments. (PTI)
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