Around 55% companies have said that new jobs will be created in FY 2014-15, says a survey on the Hiring Scenario of 2014-15 conducted by Kolkata-based Genius Consultants Ltd with 575 companies across India.
About 6% companies have said that there will be layoffs this year and another 6 % said that there will be no hiring.
The survey also revealed that organisations plan to give increments to their employees in 2014-15. 40% companies said that the range of increments will be between 10-15%, 33% expect it to be in between 5-10%, 13% expected it to be in between 15-20% and 10%expected to be less than 5%.
When companies were asked on what experience band they would witness for hiring, 39% of them said 4-8 years and 30% of them said that it would be within 1-3 years. Some 11% felt it would be in the experience band of 8-15 years and 18% said that jobs would be created for freshers.
The widening gap for demand and supply for talented workers has become a major cause for worry. Among the companies surveyed, 31% said that the maximum talent crunch was witnessed in the 4-8 year experience bands.
Attrition has long been an area of concern for organisations. During the year 2013-14 due to non availability of jobs attrition rate was less where 35% say that the attrition rate was less than 5% another during the year Financial year 2013-14.However attrition rate will increase in the coming Financial 2014-15 year where 40% say that attrition rate will range in between 5-10%.
Genius Hiring Trend Survey is an online survey conducted every year to gauge the hiring trends across sectors.
About Genius:
Genius is a 20 years young company, having 40,000 associates, over 1 lakh employment, 45,000 background checking records and 16 offices providing services for Temporary Staffing, Recruitments, Payroll Processing, Background Checks, Compliance Management, HRMS and Payroll Software. To know more visit www.geniusconsultant.com
About 6% companies have said that there will be layoffs this year and another 6 % said that there will be no hiring.
The survey also revealed that organisations plan to give increments to their employees in 2014-15. 40% companies said that the range of increments will be between 10-15%, 33% expect it to be in between 5-10%, 13% expected it to be in between 15-20% and 10%expected to be less than 5%.
When companies were asked on what experience band they would witness for hiring, 39% of them said 4-8 years and 30% of them said that it would be within 1-3 years. Some 11% felt it would be in the experience band of 8-15 years and 18% said that jobs would be created for freshers.
The widening gap for demand and supply for talented workers has become a major cause for worry. Among the companies surveyed, 31% said that the maximum talent crunch was witnessed in the 4-8 year experience bands.
Attrition has long been an area of concern for organisations. During the year 2013-14 due to non availability of jobs attrition rate was less where 35% say that the attrition rate was less than 5% another during the year Financial year 2013-14.However attrition rate will increase in the coming Financial 2014-15 year where 40% say that attrition rate will range in between 5-10%.
Genius Hiring Trend Survey is an online survey conducted every year to gauge the hiring trends across sectors.
About Genius:
Genius is a 20 years young company, having 40,000 associates, over 1 lakh employment, 45,000 background checking records and 16 offices providing services for Temporary Staffing, Recruitments, Payroll Processing, Background Checks, Compliance Management, HRMS and Payroll Software. To know more visit www.geniusconsultant.com
