Team Lease Services released the findings of its latest survey Restoration @ Workplace. This is the 9th survey commissioned by Team Lease in a series to understand India’s new world of work. The objective of the study was to analyze the impact of the recent economic downturn on the Indian workforce by getting perspectives of employees and employers. Tough times call for tough measures — and how did India Inc respond from an HR standpoint? The survey covered 350 working professionals and 50 HR professionals (to get an employer perspective ) across key cities in India.
The study shows that while there are some differences of opinion between employees and employers a majority ( 70 percent ) of the respondents were well aware of the likelihood of downsizing in an organization. However respondents from New Delhi and Pune said they were caught unaware. Around 58 percent of HR professionals also said that the issue of forced attrition was managed reasonably well.
Overall 70 percent employees felt that their organizations informed them well in advance about the possible reduction in manpower; thereby helping them stay prepared. Ahmedabad and Hyderabad’s workforce appreciated their employer’s efforts. Kolkata’s approximately 43 percent employees did not face any threat from recession. The incidence of red slip issues was higher in Pune and Delhi.
Overall 62 per cent employees felt that HR played a key role in ensuring smooth exit during the recession.
Almost 50 per cent of Puneites were not satisfied with the role of HR in this situation as they were unable to convince the sacked employees about the rationale behind such a decision .During this turmoil, Kolkata stayed least affected, 43 per cent of the population didn’t face this situation.
According to 50 per cent of employees that recalled the procedure post recession felt that it was managed well by the organizations
Overall 41 percent of employees are of the opinion that their organizations need to work towards innovative HR policies. Bangalore and Kolkata’s workforce voiced their opinion saying companies should devise new policies.
According to the Manpower Employment Outlook survey of 5,170 employers across India indicates that India’s labor market continues to be dynamic. The Net Employment Outlook of +42 per cent for India (seasonally adjusted data) improves by three and five percentage points quarter over quarter and year over year respectively . Job seekers in the services sector (+ 51 per cent) and the manufacturing sector ( +45 per cent) can look forward to the most vigorous hiring pace in the three months while the weakest –but still robust – hiring plans are reported by employers in the finance insurance, and real estate sector ( +34 per cent) the mining & construction sector (+34 per cent) and the wholesale & retail trade sector (+ 33 per cent.)
The hiring pace in India has remained at a brisk to dynamic level; since the fourth quarter of 2009 and Indian employers in every Industry sector and every region surveyed indicate they plan to continue adding to their payrolls in the first three months of the New year. This is India’s strongest employment forecast since the fourth quarter of 2008.
Employers in three regions report improved quarter and year over year hiring plans. Employers in the West (+ 49 per cent) region report the country’s strongest hiring expectations where the outlook improves by 16 and 10 percentage points quarter over quarter and year over year respectively . The forecast in the South (+47 per cent) improves by five percentage points quarter over quarter and 13 percentage points year over years. Similarly employer hiring intentions in the East (+ 41 per cent) improve by four percentage points quarter over quarter and by a single percentage point year over year. Only employers in the North (30 per cent) report weaker hiring plans, both quarter over quarter and year over year with the outlook declining by eight and 11 percentage points respectively.