A majority of companies in India are trying to be selective while planning their workforce, compensation and benefit cuts for this year, even as they anticipate a decline in their company’s business performance, next year, reveals a new Mercer survey, Leading Through Unprecedented Times. The survey states that Indian companies are likely to curtail overall hiring, while continuing to hire talent to fill shortages in key skills-sets. Another interesting fact that the survey reveals is that most companies in India still hope to avoid significant workforce reductions. However, it also states that a deep or prolonged economic downturn could force more drastic action. Clearly, what the survey indicates is that while workforce reductions will occur in India there will be hiring which will be selective and skill based, and most companies believe they can avoid significant workforce cuts.
At Maruti Suzuki (MS) expansion plans and recruitment intentions continue to remain unaltered. MS is specifically looking at strengthening the R&D capability of their company. And in this quest, they have already planned to scale up manpower requirements for R&D functions to almost 1,000 employees by 2010-11. The number of engineers hired has shot up from a little less than 300 that were recruited in the beginning of last year, to around 600 now. Recently, the company has recruited a batch of 250 Graduate Engineers Trainees (GETs) too. MS has undertaken many initiatives to bring down costs across operations but neither they are holding back recruitment activities nor handing over pink slips to their employees to cut costs. The current situation does raise a lot of concern but they view it as a short term phenomenon and are confident that India will emerge as a strong economy, in the near future.
Hiring the right talent is the greatest challenge in today’s business environment and a prerequisite for succeeding in today’s ever-changing global scenario. Lateral hires integrate faster and hence, are able to adapt themselves to the changing corporate scenario and mould themselves as per the specialized demands of their job roles. Since at Sapient India has a diversified model of business, recruitment is a major necessity and hence, they are continuing looking for talent that can add value and contribute towards the organization’s growth, especially in the fields of trading risk and management and interactive marketing. They plan to hire around 200 people, quarter on quarter. Due to the US financial crisis, they foresee a slower rate of employment. But one of the positive outcomes of the same is the reduced levels of attrition as employees today are more stable and job hopping, certainly, is not on their priority list anymore.
LIC Housing Finance organization is concerned they continue to record a healthy growth in the current year and do not foresee any slowdown, in the near future. The recruitment activities will be in tune with expansion plans and will continue to hire for various positions, across different specializations. They believe that investment in human capital pays dividends in the long run, as it is this resource that forms the backbone of any organization.
Cairn India, along with its partner ONGC is undertaking an important project in Rajasthan. They have embarked upon an intensive recruitment campaign, to staff up its Rajasthan operations with more than 300 key positions, for various roles filled through this drive. The first phase of recruitment campaign received 6,000 applications for the 300 advertised positions.
These organizations are going against the tide and proving that there’s still a pool of opportunities waiting to be explored. All you need to do is follow the right path and grab them.