Only 3% firms plan to hire; bleakest outlook in 15 years: Survey

India is witnessing the weakest hiring sentiment in 15 years with just 3% of companies planning to add staff in the next three months, a survey of over 800 employers said on Tuesday.

According to the Manpower Group Employment Outlook Survey, 7% of employers anticipate an increase in payrolls, 3% forecast a decrease and 54% expect no change.

The strongest hiring pace is recorded in the small-sized organisations followed by the medium-sized and large-sized firms.

Globally, employers in 22 of the 43 countries and territories surveyed by ManpowerGroup expect to add to payrolls in the period up to the end of December 2020. In 16 countries and territories, employers expect to reduce payrolls, while flat hiring activity is forecast in five.