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Job scenario appears to be bright this year: report

New vacancies will take place in IT, ITES, BPO, manufacturing, banking sectors

Prime Minister Narendra Modi’s various efforts to revive business sentiments seem to finally be paying off, with a recent survey showing that the majority of companies feel hiring will increase by up to 15 per cent this financial year.

The survey, conducted by Kolkata-based Genius Consultants, also found that around 22 per cent of the 714 companies surveyed across India said new jobs will be created in FY 2015-16.

“There is an overall positive environment, which has given rise to a fair amount of movement to the job scenario. The government’s emphasis on smart cities, digitalisation and infrastructure has added to this positivity,” said Genius Consultants Chairman and Managing Director Rajendra Prasad Yadav.

The proportion of respondents who said that hiring would increase by up to 15 per cent in FY16, at 51 per cent, was significantly higher than the 45 per cent who felt the same way in FY15.

The sectors where both new vacancies and replacement hiring will take place are IT, ITES, BPO, manufacturing, banking and finance in cities like New Delhi, Kolkata and Chennai, the survey report said.

Optimistic business sentiment

According to the report, only 2 per cent of the companies surveyed believe that there will be layoffs this fiscal and only 5 per cent said there will be no hiring. This, too, portrays a more optimistic business sentiment than last year’s survey, which found that 6 per cent of the respondents said they would not hire and 6 per cent said there would be layoffs.

About 41 per cent of the companies said they were looking for people with 4-8 years and of experience, and 30 per cent said between 1-3 years. About 14 per cent said they were looking for more experienced people (8-15 years of work experience) and 14 per cent felt that jobs would be created for freshers.

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