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Hiring activity gradually picks up to “net positive” levels: Report

Source | | Sachin Dave, ET Bureau

Mumbai: Companies seem to have started relooking at hiring executives as the economy seemed to have gradually picked up on some fronts, a report said.

The report said that while companies have started hiring it is still not reached the pre-Covid levels. “We are now witnessing a return of healthy activity on the hiring front, it is not at a pre-COVID level yet, however is net positive. Also, employee’s salary which was reduced in the first quarter is now being reinstated. This points towards recovery, and if we do not see a spike in COVID-19 cases in the coming months then we can hope for a faster turnaround,” Vikas Sapra, VP, payroll, PeopleStrong said .

The report also highlighted different reimbursements such as travel, lodging and fuel. The reimbursements have naturally dropped by 65-70%.

“The second quarter of the financial year also saw a massive jump in FNF (Full ‘n’ Final) processing across industries reflecting a shift towards the GIG workforce. More organizations are now opening up to working with people on contracts for projects and deliverables. This trend has also fuelled hiring from Tier 2 & Tier 3 cities where candidates are ready to work on a reduced CTC (cost to company),” the PeopleStrong Alt HR Tech Insights report said.

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