Tepid hiring in industry

Data from HR firm Xpheno has shown that hiring has slowed across IT, startups and multinational corporations. This scenario is likely to continue next year too. The report indicates that top 100 companies have employed 2.1 million people this year, registering a growth of 7%. This is a drop from the 26% growth seen in the preceding two-year period. This has been attributed to hiring freeze across companies and augmented attrition, countered with backfills, resulting in no net addition.

“Even though the growth has been slow, hiring in the coming year will be mostly driven by global corporations in India and growth stage startups and product companies like Apple, Google, Facebook, Amazon and others. Till now, IT services have been driving the growth, but that is likely to change next year,” opined Kamal Karanth, cofounder of Xpheno.