News »Browse Articles » Job market set to bloom as firms plan mass hiring

Friday,02 January 2009 New Delhi: Indian companies are now gearing up to present job seekers with a New Year gift. Though gone is a year of lay-offs, the 2009 could see a makeover in the job outlook with companies planning to hire more than 2,50,000 new employees over the next months.

The industry experts believe that the overall job market scenario is set for a recovery in the second half of the year. However, the proposed 2.5 lakh hiring is mostly for the financial services industry.

Public sector banking giants like State Bank of India and Punjab National Bank along with insurance firms such as Anil Ambani group`s Reliance Life, SBI Life, Metlife and Max New York Life are some of the firms that are planning to hire in a big scale. Even some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming days.

The proposed hiring includes more than one lakh of full-time employees and about 1.5 lakh in the part-time positions with the insurance companies. Among other sectors, manufacturing and export-oriented businesses are, however, likely to continue to witness some pressure in the next few months, after huge job losses seen during 2008.

According to, HR consultancy firm Hewitt Associates, sectors like insurance, telecom (where new licensees are entering), infrastructure and special economic zones may look for fresh hiring in 2009. However, sectors like real estate, textile and retail sit on somewhat uncertain hiring outlook.

Source:
http://siliconindia.com/shownews/Job_market_set_to_bloom_as_firms_plan_mass_hiri

Chandra 02-01-2009

Good to hear this happy news.

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