Consulting firm Team Lease sees drop in hiring in Hyderabad

Hyderabad, January 27: Business and employment consulting firm TeamLease Services Private Limited, India’s largest staffing company expecting a significant drop in hiring activity in Hyderabad for January to March 2011. Team Lease released an outlook survey report today.

According to report, the overall business and employment outlook is steady for the quarter as employers still insist on playing safe when it comes to hiring new talent though the business sentiment has improved – and in certain cases quite dramatically.
The report expects Significant drop in hiring expected in Hyderabad.
Some more key highlights:
-Net Employment Outlook for the quarter January- March 2011 dips by 6 index point to 58%
-Net Business Outlook stands at 79%, a dip of 1% compared to the previous quarter when business outlook was moving up.
-IT sector is still positive about hiring and has moved up by 1 index point      Infrastructure business favours Hyderabad.
-Annual attrition rates for most cities – Hyderabad, Chennai and Delhi are affected more than the other cities.
-Attrition has moved up by 5.11 points and stands at 16.31
-Accelerated hiring intent for Blue Collar function pan India has gone up by a laudable 6%
-Hiring intent in Tier-II cities has pushed up further; Metro cities refrain themselves from hiring and seen an increase of single point
-Nationally, hiring at Entry levels is still strong at 6%, while the Junior level also has witnessed growth of 3%.

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