Financial Express
July 19, 2005 |
Hyderabad, July 19 : Information technology (IT) and IT-enabled services (ITES) companies continue to be top hirers with telecom taking the third place, a Ma Foi employmenyt survey has revealed. Karnataka leads among the hiring trends in the country with Bangalore topping the recruitment scene, it adds.
According to survey, the top five states among the hirers for the quarter are Karnataka, Tamil Nadu, Uttar Pradesh, Haryana and Andhra Pradesh and the top cities include Bangalore, Chennai, Delhi, Hyderabad and Pune. As per the Ma Foi Employment Index (MEI), which tracks the pace of recruitment activity, is at 1.39% and the overall hiring is looking up in the services sector, K Pandia Rajan, managing director, Ma Foi Management Consultants Ltd, said while addressing the media here on Tuesday.
The survey, conducted for the period July-September 2005, is a quarterly study on Indian employment trends and opportunities and claims to have undertaken a comprehensive study in the organised sector which is contributing about 75% or about Rs 4.8 crore on an average.
It covered about 2,092 employers across 17 industry sectors of which 95 were from the public sector while 1,997 belonged to the private sector, consisting of private and public limited companies. “Sensing that there are no predictive indices, our informed survey points that MEI is highest at 2.6% for private sector companies, 0.01% in public sector and 1.21% in public limited companies,” Mr Rajan said.
According to him, small and medium companies continue to be bullish on growth and hiring. MEI was highest for companies with turnover upto Rs 100 crore at 2.89% and was lowest at 0.67% for companies with turnover in excess of Rs 1,000 crore. Incidentally, it was a sober quarter for the healthcare sector. “It was normal in this sector unlike a boost in the training sector,” Mr Rajan pointed out.
The survey also informs about attrition and retention rates at workplaces. Overall attrition rate was about 7.72% over a year and it was highest in the ITES to the tune of 3.48 lakh employees. In order to prevent this, companies are resorting to pay compensation-linked scheme, better HR policies and practices, he added.
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