Ma Foi Randstad, an integrated HR services company, unveiled its 2010 Employment Trends Survey findings at the Park Hotel, Delhi today. The findings of the study for the period of January – March 2010 was released by K. Pandia Rajan, CEO, Ma Foi Randstad (India & Sri Lanka).
The study reveals creation of 1,53,564 jobs during January - March 2010 and 3,47,463 jobs are getting created in the period of April – June 2010. Trade including consumer, retail and services are expected to add 5,000 new jobs and are expected to pick up hiring momentum in Q2 of the year. The expected growth in employment in the sector during January to June 2010 is 1.20 per cent.
According to the survey, the employment trend across all sectors is on the same card in the first quarter and is expected to continue at a faster pace in the second quarter.
When asked about the attrition rate in the retail sector, Rajan quipped, “This year the attrition rate has been very low as compared to what it was in 2007 and in mid 2008.I think, there has been a more of a forced exit rather than people taking voluntary exit.”
Speaking about the precautions to be taken to reduce the attrition rate to minimum, Rajan said, “We should recruit right people, who fit into this industry, and make them understand what they are getting into.”
He added that a lot more of pro active investment in the HR system is also required in order to deal with the attrition situation.
Ma Foi Randstad has been conducting the employment trends survey since 2004. It claims that this study is India’s largest job market study.