Amid current global economic uncertainties, employers are adopting temporary recruitment policy that gives them the freedom to add or remove staff from their payrolls as needed, staffing services firm Manpower India said.
"Temporary recruitment may overtake permanent in the short-term, with employers preferring the flexibility of being able to add or remove staff from their payrolls as needed," Manpower India Managing Director Naresh Malhan said.
Citing the global economic turmoil, many employers around the globe are trying to find ways for containing costs and are cautious about hiring decisions by making do with the people they have and only resorting to hiring for positions that they deem critical to their business execution.
This trend is being reflected in the recently announced layoffs in the international as well as domestic markets.
"As the global economy gains traction, we will see employers regain confidence and become more willing to add permanently to their payrolls," Malhan added.
Some key markets, such as the United States, United Kingdom and Spain, are clearly struggling to gain traction in the current downturn while others, such as France and Germany, appear to be holding their own.
Manpowers Employment Outlook Survey data for the fourth quarter indicates weaker job prospects in the finance and business services sector across Europe.
This is most apparent in the United Kingdom, where employers are reporting the weakest job prospects in this sector since 1999 and the least optimistic national outlook in 14 years, Manpower said.
Job seekers can expect a slower fourth-quarter hiring pace in majority of the world's key labour markets.
The rise in unemployment, is gaining worrying momentum in key economies such as the United States and United Kingdom, the latest Manpowers Employment Outlook Survey shows.
However, several outlook for countries such as Canada, Guatemala, Austria, Belgium, France, Germany, Netherlands, Sweden, Switzerland and South Africa, have improved or are relatively stable compared to three months ago, the survey added.
The survey data for the fourth quarter indicates weaker job prospects in the finance and business services sector across Europe.
"This is most apparent in the United Kingdom where employers are reporting the weakest job prospects in this sector since 1999 and the least optimistic national outlook in 14 years," Manpower said.
In the United States, waning consumer confidence is also contributing to weaker demand by employers in the wholesale or retail trade sector where hiring expectations are at a 17-year low.
While, in Asia, with the exception of Taiwan, regional hiring expectations among service sector employers are notably weaker from one year ago and a fall in confidence in this key growth sector has had a major impact on these labour markets.