In 2012 over than 3 lakh jobs create by IT &BPO

 The job market is set to bounce back in 2012 as companies maintain their growth and expansion plans for the year despite the global slowdown.

The January-March quarter is likely to see the creation of over 3 lakh jobs in traditionally top-hiring sectors like information technology (IT), business process outsourcing (BPO), healthcare, education, banking, financial services and insurance (BFSI) and energy, according to industry estimates.

Job generation in this quarter is similar to January to March 2011 levels, when close to 3.99 lakh jobs were created in the organised sector . Sectors that are likely to show caution are auto, construction, engineering, FMCG and telecom. The IT and BPO sectors alone will create as many as 2.5 lakh jobs next year, most of which will be created by March 2012, according to IT industry association Nasscom.

“While a slowdown is anticipated, there will not be much of an impact on the job market . In fact, we are seeing a lot of clients going ahead with fulfilling unmet demand,” says Ajit Isaac, MD of Bangalore-based placement and search firm Ikya Human Capital Solution. Hiring mandates, he adds, have grown by up to 10% in the January-March quarter of 2012 compared with the same period last year.

Demand for talent

The expansion of the IT industry into tier-II and tier-III cities will create the maximum thrust in newer jobs, says Nasscom president Som Mittal. At Indian IT and BPO companies, 65-70 % of the hiring is for fresh recruits, while 90% is for MNCs and captive units. The bullish hiring sentiments for next year comes as a whiff of fresh air after last week’s announcement that the Indian economy has grown at its slowest pace in more than two years during the July-September quarter.

The job market will not be affected in a huge way; in fact, there may be more demand for quality talent, says Ficci president Harsh Mariwala. “The government is expected to continue its reform process and attract more investment , considering there are signs of a muted GDP growth for this year. This will usher in more jobs and intensify the shortage of good talent,” says Mariwala, who is chairman and MD of Marico. The first quarter of 2012 will have job numbers similar to 2011, as per Ma Foi Randstad’s hiring estimates from clients.

“The market is likely to be flat this year, which in a way is not a bad signal since the external scenario has worsened as compared with the same period last year,” says Ma Foi Randstad MD & CEO E Balaji. In the January-March quarter of 2010, the organised sectors created some 2.5 lakh jobs, but the figure shot up to 3.99 lakh jobs in the same period this year, as per Ma Foi Randstad’s employment surveys .