Hiring in senior positions is likely to be muted till March 2013 compared with April-September 2012.
Just 51 per cent of employers are looking to increase headcounts over the next five months after filling up positions left vacant by attrition, according to a survey by >headhonchos.com , a job portal focused exclusively on senior positions.
Holding on to senior level jobs is going to be critical in the coming days.
According to the survey, 49 per cent of employers expect to freeze headcount or actively reduce their total employee strength by March 2013. Downsizing emerges as a major issue, with 26 per cent of employers stating their intent to slash headcounts by the end of 2012-13.
Just 23 per cent of employers expect headcount to remain at their current levels till the end of the fiscal, as corporates focus on doing more with less. The employers that have expressed an interest in ramping up their workforce expect headcount to rise by 10.3 per cent on average after backfilling for attrition.
Of these employers, 87 per cent predicted a rise in headcount by six to 20 per cent. This translates into a 5.5 per cent overall increase in senior professional employment after taking into consideration the hiring freeze or downsizing elsewhere.
Hiring at senior and mid-management levels will see the slowest growth in headcount amid stalling of greenfield projects and expansion plans, according to the survey.
While the headcount at senior levels is expected to rise by two per cent, there will be a 3.4 per cent rise at mid-management levels.
In contrast, a five per cent increase is expected in the headcount at junior management levels and 4.4 per cent in fresher positions.
The hiring sentiment appears to be the most bullish in the IT sector, besides the pharma and FMCG industries.
About 56 per cent of IT/ITeS employers predict an increase in headcount by the end of the fiscal, while 96 per cent of pharma professionals expect positive growth in headcount, 82 per cent of retail professionals see a pickup in hiring.
But 28 per cent of senior telecom personnel expect downsizing in the industry, as do 19 per cent of media professionals and 13 per cent of real estate professionals.
In addition, 28 per cent of IT/ITeS employers see the possibility of downsizing. One of the interesting findings of the survey was that senior professionals in tier-2 and -3 cities were more optimistic than executives based in metros on hiring prospects.
Around 58 per cent of professionals in these smaller cities expected active hiring, compared to 49 per cent of executives in Mumbai, Delhi and Bengaluru. There is also less apprehension of downsizing in the smaller cities.
Among the 161 decision-makers that took part in the survey – CEOs, functional and departmental heads and organisation chiefs with a salary of Rs 45 lakh a year – there was a clear belief among 51 per cent that headcounts will stay stagnant or go down.
Only 28 per cent saw rapid growth going forward. In contrast, 35 per cent evinced fear that they will face stagnation in their career, compared to 26 per cent of all mid-management and senior personnel.