Recruitment intent still undeterred by Omicron’s threat

Recruitment intent still undeterred by Omicron’s threat

Company executives and job market experts have said that India Inc may not intend to hire in the new year, despite a sharp rise in cases of the highly contagious Omron version of the coronavirus over the past week.
The latest TeamLease Employment Outlook report, shared exclusively with ET, reveals that the recruitment plan of companies in India is at a seven-quarter high in January-March, the highest since the start of the pandemic. More so, because companies are “bullish” about what’s next. Fiscal year on the back of rising vaccination coverage, strong economic indicators and a strong belief about better ability to counter the new COVID-19 waves.

ET spoke to economists, job market experts and top executives of companies across sectors, including Tata Consultancy Services (TCS).

, Mahindra & Mahindra, and Deloitte, who said the hiring is likely to remain unaffected by the Omron version.

“The threat of the Omicron variant should be considered as a risk factor, but our research indicates that the effect can be controlled,” said Rituparna Chakraborty, executive vice president, TeamLease Services. “For most organizations, it’s going to be business as usual,” she said.

High demand for tech talent

“The continued health of high-frequency indicators and the positive credit growth of large businesses indicate a promising growth in recruitment,” Chakraborty said. “Improved capacity utilization is likely to spur private investment and further boost job creation.”

According to a TeamLease survey, 50% of companies showed intent to hire in the quarter, compared to 27% a year ago. This number fell to its lowest in 2020, when only 18% of companies showed intent to hire during the June and September quarters. The survey covered about 850 small, medium and large companies across 21 sectors and 14 cities.

TCS, the country’s largest IT employer, plans to hire talent in various technologies with a special focus on digital skills. Girish Nandimath, Global Head, Talent Acquisition, TCS said, “We are seeing demand for technical talent like never before. “Across geographies, industries and regions, we are seeing clear evidence of customers accelerating their adoption of digital business models.”

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