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Employment in Organised Sector to grow by 3.35% in the current quarter |
For Immediate Release
February 10, 2005 |
- Ma Foi Employment Survey (MEtS) Projects 11.4% Increase in Temporary Staffing
- Amongst the top metros, Chennai ranks first in Ma Foi Employment Index (MEI) with 10.29% growth.
- IT, ITES retains the top slots at 10.39% and 9.05% respectively.
- Ma Foi Employment Index (MEI) for Education, Training & Consulting moves up the ranks from ninth position last quarter to the third position this quarter
- Study covers over 2000 corporates with an employee base of over 22 Lakhs.
- National Hiring Confidence (NHC) projection for Healthcare & ITES segment at 100%
- Public Limited Companies (MEI - 4.36%) to hire more than Private Ltd Companies (MEI - 3.56%) in the private sector.
- Revival in Public Sector hiring with an MEI of 1.45%
- Women constitute about 17% of the workforce of which the leaders are Healthcare (39%) and ITES (29%)
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Mumbai, February 10, 2004: Indian Corporates are increasingly opting for Temporary Staffing reveals the Ma Foi Employment Survey (MEtS), January -March 2005.
MEtS is a Quarterly study on Indian employment trends and opportunities conducted by Ma Foi Management Consultants Ltd - the largest HR services provider in India. It is India's first and the most comprehensive study undertaken to understand the employment trends in the organized sector.
This quarter's study has covered 2046 employers across 17 sectors in Products and Services category, with an employee base of 22.14 Lakhs.
Ma Foi Employment Index (MEI): MEI, which tracks the pace of recruitment activity is at 3.35%. Product MEI is at 3.17% and Services MEI at 3.55.
The top ten sectors remain the same as compared to last quarter with IT and ITES leading followed by Education, Training & Consulting, moving up the ranks from number 9 to the third position in this quarter. The others are Infrastructure, Transportation & Logistics, Pharma, Retail Trade, Healthcare, Auto & Auto Ancillaries, and Print Media & Entertainment
South tops the MEI index followed by North, West and Eastern regions. The top five states for the quarter are Haryana, Tamil Nadu, Uttar Pradesh, Andhra Pradesh and Punjab and the top five cities are Chennai, Hyderabad, Bangalore, Delhi and Mumbai.
National Hiring Confidence (NHC): Corporate India continues to be upbeat with the National Hiring Confidence (NHC) level up at 85%. Healthcare joins the top league with ITES closely followed by IT. The NHC level across industries is 82% and across services is 89%.
The top ten segments in the NHC are Healthcare (100%), ITES (100%), IT (98%), Print, Media & Entertainment (92%), Pharma (91%), Education, Training & Consulting (90%), Auto & Auto Ancillaries (88%), Chemical & Allied (84%), Manufacturing (81%), Textiles & garments (81%).
The highest confidence level in hiring is projected by the Northern Region followed by South, West and Eastern regions. The top five states in the NHC Index for the quarter are Haryana, Punjab, Himachal Pradesh, Goa and Chattisgarh and the top five cities are Delhi, Bangalore, Hyderabad, Ahmedabad and Chennai.
Temporary Staffing: Temporary staffing through Professional Employer Organisations (PEO) is a trend fast catching up in India. MEtS reveals that temporary staff comprised nearly 11.8% of the employee base of the companies surveyed.
The survey predicts an increase of 11.47% by the end of this quarter taking the employee base to 12.84%. The top ten sectors that would use flexi staffing in this quarter are Hospitality, Print, Media & Entertainment, Energy, Education, Training & Consulting, Telecommunications, IT, Chemical & Allied, BFSI, Pharma and Textile & Garments.
Gender Balance: MEtS analysed the Gender Balance in the companies under survey and found that there was a wide divergence between various industry segments on the gender balance. On the whole, women constitute about 17% of the workforce as compared to the 83% constituted by their male counterparts.
Sector wise split shows that there is a greater presence of women in the services sector as compared to product sectors. The top 5 sectors that have greater presence of women are Healthcare, ITES, BFSI, Education, Training & Consultancy, IT and Textiles & Garments.
The current MEtS forecast is for the period of January to March 2005.
About MEtS: Ma Foi Employment Survey (MEtS), India's First Employment Survey was launched in November 2004. MEtS, a Quarterly study on Indian employment trends and opportunities, is the largest and comprehensive study undertaken to understand the employment trends in the organized sector for the first time in the Indian subcontinent.
The survey provides the base for two unique indices Ma Foi Employment Index (MEI) and National Hiring Confidence Index (NHC).
MEI measures the pace of recruitment activity/ hiring needs of the employers and indicates the prospective net percentage growth in employment over the present levels.
NHC will capture the hiring confidence level of the employer and project hiring intentions across sectors.
Notes to Editor
Ma Foi is a 13-year-old public limited company. Having started in 1992 at Chennai with focus on recruitment services, Ma Foi has grown to be the largest HR services provider in India. Ma Foi is committed to offer people and people related services, enhancing the net worth of human capital. Ma Foi presently has 42 offices in the country and 5 overseas subsidiaries in London, Dubai, Singapore, Colombo and Malaysia, and over 880 clients including 124 Fortune 500 Companies. Ma Foi has posted revenue of Rs.122 Crores for the year ended March 2004.
For further details on Ma Foi visit www.mafoi.com.
Vedior is one of the world's leading staffing companies with revenue of Euro 6.46 billion. The Group operates in 37 countries with a network of more than 2,300 offices worldwide including Europe, North America, Australasia, South Africa, Latin America and Asia. Vedior provides a broad range of staffing services through distinct brand names targetting specific sectors, including traditional administrative / light industrial sectors and specialist sectors such as information technology, healthcare, accounting, engineering and education. Vedior offers temporary staffing, permanent placement and other employment-related services.
For further details on Vedior, visit : www.vedior.com.
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