India Predicts Highest Increase in Hiring Among Asia and Australia Region

By 121 News

Chandigarh 17^th March:- Buoyed by positive economic sentiment, the employment scenario in the country is set to move up, according to the ninth annual Global Business and Spending Monitor conducted by American Express in partnership with CFO Research.

 India to see the highest rise in employment in 2016 among Asia/Australia region

 A significant 83% of Indian executives expect their companies to hire more employees and more than half of the respondents, 52% of them, expect employment to grow by over 10%. Financial executives across the globe expect their companies' headcount to increase by 9% on an average in 2016, but the improvement can be traced primarily to large hiring increases expected by companies in the U.S., Mexico, and India (each, 13%).

Saru Kaushal, Country Business Head, Global Corporate Payments, American Express said that sustained high level of optimism towards growth will see India as a bright spot for hiring as companies get ready to add to the government's initiative towards improving job-oriented skills in the country. As the companies expect increase in hiring, they also consider retaining existing talent a major task. From improving working environment to rotating employees through various departments, companies are planning to introduce measures towards this direction and trying to keep their attrition rates at the lowest levels.

60% of Indian executives expect to raise wages or salaries in order to attract or retain employees. More than half of respondents from India (53%) would be looking at improving the working environment (e.g. reconfigure office spaces, provide more amenities etc.)  An equal number of Indian executives expect to rotate key employees through different functions or departments in order to retain them.

More than 60% of Indian executives will look at on-shoring i.e. moving positions from overseas to domestic locations in order to meet their staffing needs. It is interesting to note that 76% of Indian respondents are of a view that independent contractors, freelancers or temporary workers form a critical or an important part of their companies' practices. The executives see no diminishing in this trend in the coming years.