'Job market outlook to brighten in 2014-15'

Companies are expected to go for aggressive hiring activities this fiscal, with 84 per cent of employers surveyed indicating that headcount in their respective firms is set to increase in 2014-15 over the last financial year, said a report.

According to the survey conducted by HeadHonchos.com, a job search and career portal, 84.1 per cent employers expect new job creations this year.

"With the mood swinging away from caution of last year towards more risk taking, it seems expansion plans and hiring are no longer on hold.

“As employers gear up for a new hiring cycle, this could be the year that growth returns to the job market," the report said.

A majority of employers say headcounts are expected to rise and that hiring would take place beyond routine replacement hiring that compensates for attrition, the survey that cut across a cross-section of employers and recruitment consultants said.

In sharp contrast, just 6 per cent of respondents expect headcount levels to move down in FY 2015.

Around 10

per cent of respondents say that headcount would stay the same.

Headcount is expected to increase at a sharp pace with over half the employers as 55.4 per cent projecting that headcount will grow at more than 10 per cent.

Moreover, compensation packages that had come under pressure will go up as companies once again compete to hire the best talent, the report added.

In another welcome trend for those seeking a job change, hiring that was skewed towards junior roles to support project implementation and short-term revenue growth is now tilting towards middle-management & senior professionals in 2014-15.

"Among employers who will add headcount, 73 per cent expect to hire at middle-management levels while 26 per cent of employers will recruit for new senior positions," the report said.

HeadHonchos' Hiring Outlook is the only survey focussed on senior hiring in India.

It was conducted over March-April 2014.

Over 160 HR and recruitment professionals participated in the survey.