TeamLease Employment Outlook Report Shows Bittersweet Results

TeamLease Services released its latest Employment Outlook Report for the
period April to June 2009.

TeamLease releases the Employment Outlook Report every quarter after a survey
administered to the HR heads, CEOs and senior management of leading companies in
India. The study focuses on the employment growth potential, the business
outlook and hiring forecasts with relation to location and company profile. This
report largely serves as a reference manual to corporate houses to understand
the employment trend in the present market scenario at major cities across the
country.

As per the survey there is a decrease in employment outlook index points of
Pune, Delhi and Hyderabad. The Index points of Pune decreased the most (by 65
points) followed by Delhi (by 36 points) and Hyderabad (by 35 points). The
Employment Outlook Index points of Kolkata increased the most (by 13 points).
There is also a decrease in Business Outlook index points of all cities except
Mumbai, Bengaluru and Kolkata although their index points are negative. The
Business Outlook Index points of Pune decreased the most (by 97 points).

According to Surabhi Mathur-Gandhi, GM, TeamLease Services, “The survey
results are bittersweet. Nobody can question the downward trend in growth and
expansion plans across a wide swathe; financial services, ITeS, retail, FMCG,
manufacturing, engineering, IT. But while we can't say that the bottom is behind
us, the outlook is clearly better than last time. The long term view of India
becoming a more attractive investment destination stands but we will need a few
more quarters to validate a turn from job destruction to job creation. The
report goes on to show that while there has been a fall in employment and
business outlook for the current quarter, the fall is still lesser when compared
to the previous quarter, hinting at some form of recovery in the economy. While
it is too early to predict, the report suggests that the increase in business
outlook in some cities are an indication of positive times to come.”

DQC NEWS BUREAU