Around 55 percent companies say new jobs will be created in 2014-15
Around 55 per cent companies believe that the new jobs will be created in fiscal year of 2014-15, according to a survey on the Hiring Scenario of 2014-15, conducted by city based Genius Consultants Ltd with 575 companies across India.
About six per cent companies have said there will be layoffs this year and another six per cent said there will be no hiring.
The survey also revealed that organisations plan to give increments to their employees in 2014-15. 40 per cent companies said the range of increments will be between 10-15 per cent, 33 per cent expect it to be in between 5-10 per cent, 13 per cent expected it to be in between 15-20 per cent and 10 per cent expected to be less than 5 per cent.
When companies were asked on what experience band they would witness for hiring, 39 per cent of them said 4-8 years and 30 per cent of them said it would be within 1-3 years. Some 11 per cent felt it would be in the experience band of 8-15 years and 18 per cent said jobs would be created for freshers.
The widening gap for demand and supply for talented workers has become a major cause for worry. Among the companies surveyed, 31 per cent said the maximum talent crunch was witnessed in the 4-8 year experience bands.
Attrition has long been an area of concern for organisations. During the year 2013-14 due to non availability of jobs attrition rate was less where 35 per cent say that the attrition rate was less than 5 per cent another during the year financial year 2013-14.
However attrition rate will increase in the coming financial 2014-15 year where 40 per cent say that attrition rate will range in between 5-10 per cent.
Genius Hiring Trend Survey is an online survey conducted every year to gauge the hiring trends across sectors.
(Posted on 17-04-2014)