Don't change job unless you have valid reason

This is not the time to switch jobs, unless you have a compelling reason to do so. India Inc is slowing down on recruitments as the Indian economy loses steam.

Aviation, BPO and financial services, which went on a hiring spree during the economic boom, seem to have developed cold feet. Fresh recruitment in manufacturing and infrastructure has also hit a rough patch, according to industry experts.

Aviation, which is passing through a major crisis after oil prices rose to a record $145 a barrel, seem to have lost its yen for talent. Expats, who came rushing to India with the onset of low-cost airlines, have left their jobs.

Retrenchment seems to be the new buzzword in the sector. Budget carrier Go Air has cut 400 jobs in the last six months.

Deccan has frozen recruitment and is reviewing its business plans due to the sudden increase in jet fuel prices."We don't want to hire people and then lay them off as done by some airlines," said Hitesh Patel, Executive Vice-President, Kingfisher Airlines, which controls budget airline Deccan.
In the next few days, employee salaries will also see a reduction. "We are moving away from fixed costs to variable costs.

Since January, we have frozen fresh recruitment and cut manpower by 30 per cent as we withdrew from several sectors," said Edgrado Badiali, CEO, Go Air. Aviation training schools, which mushroomed in anticipation of the boom, are eyeing jobs for their students in the Middle
East where the industry is still growing.

The story is the same in other sectors. "The slowdown in the job market is really happening.
ITeS, infrastructure, industrial manufacturing, banking and BPOs that were well recruiting last year, have taken a hit," says James Agrawal, consulting director and amp; head, BTI Consultants. Companies like IBM, TCS and Patni Computers have slashed jobs in their software and BPO operations.

"A 30 per cent hike in salary is the least you can expect when changing jobs. Last year, it was a minimum 50 per cent.

The job scenario also depends on the position you are joining at, it is easier in the junior level," says Shrikant Rege, CEO-India, American Express Bank Ltd.

Good job: India most optimistic nation for hiring

The US slowdown has not taken the sheen off the Indian job market. India is the Number one country among 32 in terms of overall net employment outlook, says a survey conducted by Manpower.

"More people are showing interest in coming back (to India) and exploring employment options. This is more from the US markets than any other market," says Dr Naresh Malhan, MD of Manpower India.



Singapore and Peru follow India in the rankings. The service sector is the most optimistic in India followed by finance and real estate companies. The weakest spot is IT and ITes thanks to the US slowdown.

"Areas like call centres for examples; if you don't have that much business that will have a direct impact," says Malhan.

While employers in India continue to show optimism in their hiring intent, the impact of US slowdown has started showing its impact on mid size companies especially in the IT and ITeS domain.

Overall 48 per cent employers in India expect to increase staff numbers and only 1 per cent expect to reduce their headcount.

Thanks to http://www.ibnlive.com/news/good-job-india-most-optimistic-nation-for-hiring/66973-3.html