Although the business of retail is in close focus in India, it has not been able to attract many to pursue a career in retail. According to the Manpower Employment Outlook Survey for the second quarter (April-June) of 2008, the wholesale and retail trade sector reported the sharpest decline in hiring intentions.
Naresh Malhan, managing director, Manpower India, in an issued statement, said, “Surprisingly, retail trade doesn’t indicate a very positive hiring, and this could be attributed to the delayed rollouts and other challenges that the industry has faced in the last year. There is a time lag between when the investment happens and when it translates into employment opportunities.”
According to Malhan, initial investments in retail will first translate into more jobs in the real estate sector before they actually lead to increases in retail jobs.
The real estate sector, however, is reported to be hiring more. “Compared to last year, sectors like finance, insurance, real estate, mining and construction look promising in terms of job opportunities,” informed Malhan.
Following the retail route, the manufacturing sector has also scored poorly. ”Growth in the manufacturing sector is now starting to slow down,” says Malhan.
Manpower surveyed 55,000 employers across 32 countries, and India stands second after Singapore among the hotest destinations for job seekers.
Out of the 32 countries surveyed, Singapore reported the most favourable hiring plans for the second quarter, followed by India, Peru and Romania, who tied for the second spot. According to Malhan, this is a marked improvement for India, since in the last quarter it was at the third spot.