MUMBAI: India’s job market is showing signs of recovery from the lows hit in the aftermath of demonetisation, and recruitment firms expect up to 50 per cent jump in hiring in the next quarter compared to November-December levels.
Recruitment and staffing firms such as TeamLease Services, ABC Consultants, Quess Corp, Antal International, PeopleStrong and The HeadHunters said hiring mandates have started coming back from companies across sectors such as banking, consumer, infrastructure, retail and engineering, which had suspended or cut back on hiring after the government decision to delegalise about 86 per cent of currency in circulation led to a severe cash crunch across the country.
“We will be back with a bang in the April-June quarter. Hiring will shoot up by as much as 50 per cent compared to demonetisation lows, led by agri-related industries,” said Joseph Devasia, managing director at executive recruitment firm Antal International.
Hiring experts say besides retail and FMCG, companies in most other sectors including retail, consumer goods, durables, logistics, pharmaceuticals, banking and auto are also returning to the job market. “About 90 per cent of the recruiters we are speaking to are bullish on hiring,” Devasia said.
He said that after a dry spell in November-December due to uncertainty over the impact of demonetisation on the economy and various businesses, the job market started picking up January onwards with improvements in liquidity and consumer spending.
Guruprasad Srinivasan, president, people and services, at Quess Corp, said the firm’s hiring mandates have seen increased 10-15 per cent in the last couple of weeks compared to the demonetisation lows. “We expect this to go up to 40 per cent in the coming quarter,” he said.
The Manpower Employment Outlook Survey of 5,089 Indian employers in the October-December quarter had indicated a likely growth in payrolls in all four regions and seven industry sectors in the last quarter of 2016 with nearly a third of employers looking to add to their payrolls. After demonetisation, however, the bulk of all hiring came to a standstill with employers going into wait-and-watch mode.
Search firms now expect hiring to pick up across all levels, from entry level to senior post, as there are some pent-up demands too.
“During November till mid-January, most companies had temporarily suspended hiring or put it on the backburner to firefight the immediate impact (of demonetisation) and meet revenue targets for the quarter and yearend. Those mandates are now coming back,” said Kris Lakshmikanth, CEO at The Head Hunters India. He expects nearly 40 per cent increase in mid-level hiring mandates in the first quarter of the next fiscal.
Recruiters across the board are largely of the belief that barring a few sectors such as real estate and luxury, which are yet to recover from the demonetisation blues, things are broadly looking positive.
In the case of information technology, while overall hiring has slowed down due to US President Donald Trump’s protectionist stance, companies working in new areas such as digital and mobility technologies are bullish on hiring for those roles.
Sectors such as payment banks as well as logistics will also be positive on hiring, said Rituparna Chakraborty, executive vice president at Teamlease Services. Pankaj Bansal, CEO at PeopleStrong, said impact of demonetisation or Trump on the job market was not severe.
“There is stress and uncertainty in the environment but it has not led to any real major hit on the hiring by companies,” he said, adding that net job additions in 2017-18 will be at the same level compared to 2016-17.
It’s been a week since we rung in 2017. If you haven’t set your career goals yet; it’s not too late.
We have listed 3 steps that can help you achieve your Career Goals for 2017
- DEFINE YOUR CAREER GOALS: To start, make sure you have a clear and concise career goal. Ask yourself –
- What do I want to achieve IN 2017??
- Where do I see myself AT THE END OF 2017?
- Do I want a senior position in my company?
- Do I want a new job with a new company?
- Should I start a new business?
Once you have your goal CLARIFIED in mind, evaluate..
- How important is this goal TO ME PERSONALLY AND PROFESSIONALLY?
- Is MY goal realistic?
- Is it motivating enough for me to chase it?
- Am I willing to put in enough efforts to achieve it?
Once you have answers to these questions and you are confident about chasing and achieving your that career goal, you can then go ahead and work a plan around it
- PLAN TO ACHIEVE YOUR GOALS: Chalk out a strategy that will not only lead you to your goal but will also keep you going and push you forward especially when the going gets tough. Plan your roadmap that will help you explore multiple opportunities and will help keep you focused
- If you’re looking for a job change, start networking with industry leaders/recruiters, start working on your resume and LinkedIn profile to make yourself more accessible and digitally visible (for tips on how to make yourself digitally visible, without looking desperate click here http://bit.ly/2jhxTez)
- Start following and networking with recruiters to understand what the industry hiring trends are like.
- If you are looking for a senior position step-up, study the role you want to be promoted to or hired for, and start working towards building your skills to match the requirements for that role. Volunteer proactively for those projects which will equip you with these competences for stepping up. If you believe you are weak in an area of competence, develop yourself by reading, taking courses, asking advice from mentors and implementing those ideas at work.
- Similarly if you’re an aspiring entrepreneur, analyze and study the market to find out what kind of entrepreneurial opportunities are in store for you. Figure out what is the kind of investment of emotion, hard work and finances that will be required and how will you meet these demands. Meet other entrepreneurs to understand what life they lead as Business Owners. Contemplate on the various business options you have – whether you want to venture out alone or in partnership or you want to invest in a franchise.
- EXECUTION OF YOUR PLAN: This is where you put your plan to action; this is the ‘make or break’ point of your plan.
- Prioritize and structure your plan: Give your plan a structure that needs to be followed similar to a ‘to – do’ list. A flow plan with all necessary steps that need to be taken one after another
- Set Timelines: Create a timeline for every activity you ought to do to achieve your goal; this will help you stay on track and give you enough room to make alternate changes when needed. Keep enough time to review your plan at regular intervals (every quarter)
- Keep a Tracker: It is very important to keep a track of your plan and review it periodically as this will help you stick to your timeline. Review will help make amendments whenever necessary.
A simple plan like the above with a little dedication, discipline and persistence can help you achieve your career aspirations for 2017. If you are looking for a nearest Niche Recruiter who will guide you or help you achieve your career goals click here http://bit.ly/2i7sAMO
Naresh Sharma joined Antal in 2015 and is based in Jaipur India. Naresh is a Supply Chain Management professional with more than 24 years of experience in handling pan India supply chain and warehousing functions of leading corporates and in the Indian Army Logistics.
Having extensive network in Supply Chain and Logistics industry, he is adept in working with people from culturally diverse backgrounds.
He is a Post Graduate and Gold Medalist in Materials Management and holds a Master of Science degree. He is also a Gold Medalist in Post Graduate Diploma in Human Resources.
We caught up with Naresh to know more about his journey as an Antal Entrepreneur
- Why did you choose recruitment franchise business? What are the good things about working in the recruitment industry?
- After more than two decades of successful journey in the Indian Army, I decided to venture into the corporate world after taking voluntary retirement as a Colonel. It was my passion, confidence and skill sets which drove me to tread the unchartered grounds. I headed Supply Chain of a group of hospitals and have been actively engaged in providing Logistics Consultancy services to hospital chains. My specialization is in achieving lean inventory holding, process optimization and resultant savings.
- I chose to move to Search and Selection industry to leverage my understanding of Supply Chain and utilize the extensive network to source exceptional talent.
- Though I was unsure of the dynamics of the industry and to be honest I was even not aware of the depth and reach of this industry before I actually started working on this.
- Working in such an industry would always keep you on edge as you have to constantly improve yourself, modify your business strategy, continuously work to get your team together and hone their skills.
- It also provides the flexibility to work as per your own terms and pace. The fact that you exist to solve problems of the clients and you are seen as an expert in the industry always motivates me.
- How did you hear about Antal International? And what made you pick Antal of all the choices you had?
- Frankly speaking there were not much of choices when I was looking for a business prospect which suited my requirement.
- Interactions with Antal team prompted me to take up this challenge as I felt I really belong to this space. I decided to go ahead with Antal as it is an international brand having very strong training methodology and processes to ensure success.
- How were your initial days in the business? What are the challenges you faced and how did you overcome them
- Challenging, least to say. It requires lots of dedicated efforts, hands on methods and perseverance to succeed.
- Scaling up and building a highly motivated team has been one of my biggest challenges.
- How is your business functioning now? When did you make your first placement?
- The business is picking up and I see it growing month over month. Getting clients on board is not something which is difficult but closing roles certainly is! We initially worked on lots of unfillable roles, where we worked on and on without getting any revenue. I learnt the harder way where to say no. My first placement was in 4th month. The candidate accepted offer but eventually did not join. May be I was destined to learn the harder way! My next successful placement came two months later and there is no looking back since then.
- What are your plans for the next years?
- I intend focusing towards putting a dedicated team in place and work towards creating specialized desks.
- What do you like most about Antal?
- Antal has most well-meaning professionals who want to see you growing. The processes followed and training methodologies are exceptional.
- What is the key advice you would give to other prospective franchisees that are considering this kind of self-employment?
- If you are looking for a business where you do not intend getting yourself involved, Antal is not for you. This business requires personal efforts by the owner as you have to drive the business, mentor your team, continuously train them and motivate them. Though Antal’s support is exceptional, you need to be the driving force of this business. There is never a dull moment.
- What’s you fitness mantra?
- Moderation – Moderate and balanced meals. Take time out for yourself – exercise a bit. Go on walks with your wife often!
- Tell us something about your family
- Meenkashi, my wife is an artist and a fashion designer. She cr
eates unique and customized paintings based on Tanjore theme which are quite in demand. We have two lovely daughters, elder one is in Std Xth and younger one is in Std IXth.
- Meenkashi, my wife is an artist and a fashion designer. She cr
- How do you balance your professional & personal life?
- Even though I would be busy, I ensure that I spend time with my family. They love to pull me out of office to watch all movies – howsoever boring they might be.
- Which is your favorite holiday destination?
- We love to explore different places. We have been lucky to have got opportunity to travel almost all parts of the country extensively. Any place where we could drive down together would be our favourite. We would love to hit road any time on any pretext.
- Your Hobbies
- Spending time with family. Driving. Playing badminton.
- Your proud Antal Moment
- Being an expert whose opinion matters. There was a candidate of mine who was rejected at CV stage but I insisted upon my client to meet him. He was offered immediately during interview and I still have the client thanking me.
- What keeps you motivated to do the same job every day?
- It’s never the same job every day. You would be working on different assignments, different skill sets, and different people and in turn learning yourself. You need to keep evolving.
I came across this quote by Walt Disney “We don’t make movies to make money. We make money to make more movies….” and I thought to myself “Do aspiring entrepreneurs think the same today?” As Franchise Sales Manager for Antal International Network,(a mid and senior level recruitment business which also franchises its recruitment business to senior professional who are looking to launch their own business) I speak to many such ambitious entrepreneurs who want to start their own business. Most of them stress on knowing what profits will they make instead of understanding our what business model is like or what methodology we use? Infact at most times, the 1st question I’m asked is “What’s the amount of investment and what the ROI is?”
Ok, one can’t deny it – Money is one of the reason why many take the big entrepreneurial leap, but “Guess What?”, Money alone is not the sole motivator for successful entrepreneurs. If you have read interviews of some of the world’s most successful entrepreneurs, they state that their primary motivation has been to build something lasting, something innovative, something that brought change to people’s lives and not to make a lot of money.
If you’re an aspiring entrepreneur and if making money is the only thing driving you into starting your own business, then you may risk losing out on your business and your entrepreneurial dream in the very first few months.
The initial stage is extremely challenging, one needs to face some harsh realities, face rejection, sometimes unseen crisis surf up unexpectedly, long work hours or even days. The worst is, you have to undergo this ordeal alone and there is no definite time frame as to how long this phase would last. This initial phase is the make or break deal time and this period will define whether entrepreneurship is meant for you or not.
During this time your passion for your business and industry you work in, the experience, the need to learn more, the excitement to face and overcome challenges successfully will keep you motivated and moving on zealously to achieve you goals. However, if making money is your sole motive behind your entrepreneurial venture and if you were thinking of minting money immediately after launching your business, you will not make through this initial phase. In entrepreneurship, money happens as a function of doing a great job with passion and conviction. It’s not a job where a salary is guaranteed each month nor is it a gate pass to instant success wealth and fame. An entrepreneur needs to look beyond money to find his motivations
Here’s what it takes to be a successful entrepreneur
Need to fill in the gap in the industry you come from: Here I would give you an example of Antal’s CEO Mr. Tony Goodwin who, after a spell as an accountant, saw a gap in the global recruitment market. He noticed that the multinationals he was working with did not have a recruitment company supporting their needs in Eastern Europe and that when he decided to start a recruitment business, which today has established a strong presence all across the globe. You too may see a gap that needs to be filled in the sector you work in and that could be your reason to become an entrepreneur to fill in that gap
Create a legacy: A great entrepreneur will strive to create something extraordinary that will change lives, industry standards for the better, something that will motivate other entrepreneurs. The motive to create something big, to build a world class brand and leave a legacy for generations to look and get inspired by is what makes a successful entrepreneur
Turn your passion and beliefs into a business. There is something you may be passionate about something that brings out the best in you and you are always motivated to do even better. You have the ability to create a business as well as impact people through your passions and beliefs
Wanting to learn something new. As an entrepreneur you learn something new every day and at most times these learning have come from the mistakes you make. When you look at your journey as an entrepreneur after a few years you see the growth and success of a business as well as your personal and professional growth and that’s when you know the true worth of all the struggles and the sacrifices you went through
It enables you to dream big. One major thing that drives an individual towards entrepreneurship is creativity, freedom to create. The liberty to think big, to ideate freely with no boundaries, freedom to set your own goals. Successful entrepreneurs are competitive by nature. They are constantly competing with themselves with a motive to improve and grow. That this is what keeps their adrenaline running.
If the reasons listed above are your reason to become an entrepreneur, then you are ready to kick start you’re entrepreneurial journey.
If you are keen on knowing more about what Antal has to offer you to live your entrepreneurial dream write to me at Jkacharia@antal.com
Every month, Antal is welcoming new franchise owners to its global network and Antal International India is pleased to welcome 3 more owners who joined our growing network in April 2016. Currently with 44 offices in India, Antal hopes to exceed 100 offices in India by 2020.
The April 2016 Induction class saw professionals from different fields turning into recruiters and embarking into a new entrepreneurial journey with Antal.
We are proud to introduce our newly inducted Managing Partners
- Madhukar Rao and Vinay Pandey who are based in Bangalore will recruit in sales within Life Insurance industry
- Jose Mathew, based in Mumbai will recruit within IT/ ITES and Pharma sector
- Indeep Bhatia based in Noida will recruit within Power sector
“Since, Antal’s entry into the Indian market 10 years ago we have been growing significantly. Today, we have 44 offices in India and looking to add 20 more offices this year. In these 10 years we have built strong business relationships and have worked with over 500 companies in India and have successfully filled 3000+ positions at the mid & senior level and with pride I can say that today, Antal is one of the most trusted recruitments brand in the country. This has been possible only because of our growing network which consists of professionals who bring in years of industry experience which is then combined with our recruitment expertise to help companies find the best talent.”
About Antal: Antal International Network are a global Executive Recruitment firm combining permanent, temporary, interim and contract recruitment solutions launched in 1993 by Mr. Tony Goodwin. Headquartered in London, Antal today has over 130 offices in 36 countries. Antal International entered the Indian markets in late 2006. Our 1st franchisee Mr. Joseph Devasia established his business since Jan 2007, being extremely successful in the initial years. Antal realized immediately that this was a goldmine waiting to be explored, hence in late 2008; Doug Bugie who was then CEO at Antal International Network floated the idea of franchising further in India and suggested that Joseph could enter into a JV with Antal to help expand its footprints further in the Indian recruitment industry.
Since then began Antal’s journey of franchising in India and over the years since then, we have been able to establish 44 successful franchises across 14 cities. Antal through its franchise model allows you to build your own executive recruitment business and at the same time be part of 22 year old global recruitment company with 130+ offices in 33 countries across the globe. For more Information, visit our website – www.antal.com ; http://www.antalfranchising.com
You ahave put in your papers and you have been called by the HR. Your company makes you a counter offer, which is very lucrative. So what should you do? Should you still continue with your resignation? Is it a wise idea to accept the counteroffer and stay in the same company?
“Counter Offer phenomenon exists across the board, regardless of size, nationality, scope of the employer organisation and its acceptance also cuts across gender, experience and education level of the individuals in question,” said Joseph Devasia, managing director of Antal Consultants International.
According to a study by the organisation, most counter offers are made to employees in the middle and senior level management. Employees generally belong to the age group of 29 years to 45 years. However, the findings of the survey are not much encouraging. Respondents have accepted that promises made during the counter offer have not been kept.
The report found out that 82% respondents, who were promised a title change, are still continuing with the same designation and title. On the other hand, 73% respondents, who were promised a change in their job profile, were still performing the same role. Sadly, 58% of the respondents, who were promised a compensation hike as part of the counter offer, never got any increase.
Similarly, the issues that led to resignation in the first place have remained unresolved. The survey suggested that 52% employees said that the organisation made no change in the concerns that prompted them to put in their papers in the first place – primary among them were inability to manage work life balance, and limitations with role scope itself.
“Nearly 83% of such respondents reported that when they spoke to their bosses about the issues being persistent, the bosses threw up their hands and firmly told them that they (the bosses) can’t change any issue/situation,” noted Devasia.
Interestingly, the callous attitude of the organisation towards their employees has resulted in employees looking for a job again. As per the study, 55% of the respondents reported increased levels of unhappiness and a decline in their commitment. While 33% of the respondents who were experiencing these negative emotions, when contacted for the survey, have already moved to other organisations.
So, what should one do when faced with a counter offer from their current employer?
Devasia suggested that if a job seeker has already reached a stage with a prospective employer, and there still some ambiguity regarding the shift, it is better to ask for clarity before advancing towards the offer.
“Once you accept the offer, there is increased expectations on resignation – where apart from the pain of separation, you will most likely be counter offered – Do yourself a favour- don’t put yourself in an emotionally exhausting situation. Stay the course and abide by your commitment. If you have decided to move, do just that,” he asserted.
Additionally, he said, “Ask yourself, if you are looking to renege on your commitment to the new employer, what guarantees that your current boss will not renege on his promises to you?”
So, the next time, you are counter offered a job post your resignation, it is advisable that you sit and think through the decision. If there have been too many unresolved challenges in your current organisation, chances are that they will remain the same.
This article was published in BusinessInsider India on January 29th, 2016