Appreciating rupee did not deter hiring spree by softwrae companies

As per the report of Assocham, IT sector along with other sectors continued with its hiring spree during April-July this fiscal, despite being hit hard by the appreciating rupee, which ate into the profitability of a majority of sectors.

The highlights of the study are:-

• IT jobs constituted nearly 24 per cent of over 1.47 lakh vacancies listed on job portals and in newspapers during the period, followed by financial services at 14.5 per cent and sales and business development at 13.5 per cent, it added. The IT sector provides employment to over 1.6 million people directly and to about 4 million indirectly.
• The engineering sector constituted 8.7 per cent of the employment opportunities created during the said period. Job opportunities in sales and business development have beaten financial services openings listed on job portal. While the former had a 15 per cent share, the latter accounted for about 11.5 per cent.
• "Though, robust growth of economy has created numerous vacancies, severe shortage of the talented workforce and high attrition rates continue to plague the industry," Assocham President Venugopal N Dhoot said in a statement.
• Major demand for the finance personnel emanated from sectors like banking and real estate, which are estimated to hire 1.40 lakh recruits this fiscal. Human resource or administration portfolios accounted for seven per cent openings. HR professionals constituted just about 1.5 per cent of the total graduates, indicating a limited choice for firms in the sector. Manufacturing sector comprised just 6.75 per cent of the vacancies, it added. Other professions such as medical, law, media, airlines and ticketing among others constituted almost 19.5 per cent of the positions advertised.

Source: The Economic Times - August 14, 2007