Indian cos plan aggressive hiring over next 3 months: Survey

Staffing services firm Manpower's Employment Outlook Survey revealed that India's net employment outlook-an indicator of recruitment intentions-rose to 51% on a seasonally adjusted basis for the three-month period starting April

New Delhi: Reflecting the bullish employment market, Indian corporates plan to recruit new personnel at a hectic pace over the next three months, with the manufacturing industry expected to offer the strongest hiring prospects, reports PTI.
Staffing services firm Manpower's Employment Outlook Survey released today showed that employers in India have the strongest hiring intentions for the 2011 second quarter.

India's net employment outlook-an indicator of recruitment intentions-rose to 51% on a seasonally adjusted basis for the three-month period starting April. The same stood at just 43% for the first three months of this year.

"Employers (in India) from manufacturing, finance, insurance, real estate, public administration and education and wholesale and retail trade report strongest hiring plans to date," Manpower said.

The manufacturing sector leads the way with a hiring outlook of 56%, followed by finance, insurance and real estate (55%).

"This is the highest employment forecast since we started the survey in 2005 and is higher than witnessed in the pre-crisis period," Manpower India head (sales & marketing) Namr Kishore told PTI.

India is benefiting from the global economic recovery, especially in the US. Overall demand has gone up resulting in robust hiring trends, Mr Kishore noted.

In the wake of the global financial crisis in 2008-09, many firms had resorted to massive layoffs to cut down costs.

The findings are based on a survey of 5,112 employers across the country.

According to the report, employers in the south have the strongest hiring expectations, reflected in a net employment outlook of 58%. It is followed by north (54%), east (53%) and west (43%).

Meanwhile, Manpower's survey-which also covered 38 other countries-revealed that employers in India, Taiwan, Brazil, China, and Turkey have the strongest second-quarter hiring expectations.

European countries, which have been rattled by the sovereign debt turmoil, particularly Greece, Spain and Ireland, as well as Italy, recorded "the weakest forecasts globally", it added.

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Govt to complete budgetary exercise by 24th March

Finance minister Pranab Mukherjee will initiate the discussion on the budget in the Lok Sabha today and will reply on the debate on Thursday, according to parliamentary affairs minister Pawan Kumar Bansal

New Delhi: The government proposes to complete the exercise for passage of general budget for 2011-12 in Parliament by 24th March 24, parliamentary affairs minister Pawan Kumar Bansal said yesterday.

Finance minister Pranab Mukherjee will initiate the discussion on the budget in the Lok Sabha on Tuesday and will reply on the debate on Thursday, Mr Bansal told reporters here.

The discussions on the budget will be taken up in the Rajya Sabha on 9th and 10th March, he said, adding that the finance minister will reply to the debate in the Upper House on 11th March.

The Lok Sabha will discuss demands for grants of only four ministries-rural development, external affairs, mining and road transport. In the Rajya Sabha discussions will take place on demands of ministries of tribal affairs, minorities affairs, defence and civil aviation.

Guillotine will be applied in the Lok Sabha to discuss the demands of other ministries on 17th March.

Guillotine is a parliamentary procedure to curtail debate on demands for grants of various ministries to ensure timely passage of the finance bill, which completes the budgetary exercise.

The Finance Bill, which incorporates tax proposals for 2011-12, will be taken up for discussion on 21st and 22nd March in the Lower House and the entire process would be completed by 24th March, Mr Bansal said.

Mr Mukherjee had unveiled the budget proposals for 2011-12 in the Lok Sabha on 28th February.

The budget session is being curtailed due to the forthcoming assembly elections in five states-West Bengal, Assam, Kerala, Tamil Nadu and Puducherry.

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Tata Capital: Cute creative, weak strategy

There is a serious lack of new positioning ideas in the very saturated financial services category, and when your positioning itself is very weak, not even the most entertaining, charming advertising will save you

Okay, so we'll take care of you, we'll go out of our way to serve you, we'll do our damndest to be your partner, blah, blah, is now old fash.

Tata Capital, yet another wealth management 'expert', has gone way beyond this. In fact, they have positioned themselves as 'the Mother Teresa' of the financial services industry, so to speak. Their promise? 'We'll put you, the customer, ahead of our own interests.' In other words, it's 'You before I'.

Sounds like a lot of hot air, to be frank. Even the most unintelligent investor knows that no business venture goes full on charity. Granted, they may allow the leftover lunch from the office cafeteria to reach the underprivileged folks, but that's about it. This sort of desperate promise only highlights one thing: The serious lack of new positioning ideas in the very saturated financial services category.



Having said that, and despite my scepticism on this 'noble' promise, I must say the TV commercial is damn cute. It features a little Sardarji boy, as he quietly enters a dark room to check the present he's received for his birthday. And he discovers his gift is bigger than the one meant for his brother. A nice little soul that he is, the lad swaps the labels on the gift packs, so that the bada gift goes to his brother. The next morning when the gifts are being unwrapped by the brothers, our little hero gets immense joy out of watching his brother looking happy at receiving a bigger gift.

The voiceover says: 'Tata Capital. Kare wahi jo aap ke liye sahi'.

Yes, the ad is very sweet and endearing. And the two little Sardar kids are totally cool, and they make sure you will enjoy the ad on repeated exposures.
However, the foundation itself is very weak.

Financial services companies anyway carry little credibility in the marketplace, and therefore a promise that we put the customer's interests before ours is not only incredible, it's actually laughable.

Another thing: The commercial carries very poor branding for Tata Capital, and all that you will recall is the cute Sikh boys. So even that purpose is not being served out here.

Moral of the story: When your positioning itself is very weak, not even the most entertaining, charming advertising will save you.

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COMMENTS

Piyush Panjuani

6 years ago

Hi Anil,
Absolutely... great observation. A charming ad yet fails in its final objective.
Cheers,
Piyush.

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