Next 3 to 6 months could be tough for pvt sector companies
With companies adopting cost cutting measures in wake of economic downturn, next three to six months are expected to be a tough period for private sector companies.
By PTI |
CHENNAI: With companies adopting cost cutting measures in the wake of the economic downturn, the next three to six months are expected to be a tough period for private sector companies, according to a top official of a HR service provider.
"The next three to five months will be a more tough period for companies in terms of recruitment", Managing Director of leading HR service provider Ma Foi Group and Randstad India, K Pandiarajan said, expressing fears that the number of stimulus packages announced by the Centre may 'vanish' post the coming Lok Sabha polls.
Participating in a colloquium here last night on HR trends, global employment environment and the impact of current economic crisis on the Indian job market, he said "there is going to be further dip in recruitment in the organised private sector in the country".
"The salary hikes given to employees by private companies are also going to be affected" he said that a Ma Foi survey had found that the estimated a 8.8 per cent increase in salary hike was expected to come down by four per cent this year.
"The next three to five months will be a more tough period for companies in terms of recruitment", Managing Director of leading HR service provider Ma Foi Group and Randstad India, K Pandiarajan said, expressing fears that the number of stimulus packages announced by the Centre may 'vanish' post the coming Lok Sabha polls.
Participating in a colloquium here last night on HR trends, global employment environment and the impact of current economic crisis on the Indian job market, he said "there is going to be further dip in recruitment in the organised private sector in the country".
"The salary hikes given to employees by private companies are also going to be affected" he said that a Ma Foi survey had found that the estimated a 8.8 per cent increase in salary hike was expected to come down by four per cent this year.
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