The world economy is entering the third phase of its recovery – real growth. Stability has returned to markets and investment projects are being discussed and debated. With investment comes the need for additional resources to implement them and create lasting enterprise value. This recession was probably the deepest and at the same time, its time span was much shorter than the previous two recessions. All leading economic indicators are running ahead of their expected numbers. I cite two anecdotal cases that suggest hiring is back.
1. In month of August, one of the placement consultants told me that he had one of the best fortnights in last 2 years. He placed more candidates in that fortnight than he ever did. In the middle of the recession, having the best time!! And just FYI, he operates in technology and in the US.
2. Analytics Outsourcing has become a hot area. A large number of outsourcing organizations in India are jumping over each other to hire in large number. In some cases, the total number of unfilled positions exceeds the current strength. Attrition is beginning to show up. In fact, managers are finding it hard to spare time for interviewing candidates. If there is a shortage of resources, team is busy in execution and cannot spare time to interview. If they can’t hire more resources, load increases further as customers don’t wait for them to deliver.
Agreed, these are probably two isolated cases. However, there are clear indications that hiring is up and it is time to plan for attrition while planning for new areas of investment. It is time to gear up for the next round of hiring binge. War of talent never ended, it just became more sophisticated and challenging.
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