A new index has been added to the Indian job market on Wednesday. Monster.com, a multi-national job portal which started India operations in 2001, launched its monthly employment index for India in New Delhi on Wednesday. Predictably, for the month of April it shows a rising trend in hiring across all sectors and cities. The index takes the average of recruitment activity between October 2009 and March 2010 as 100 and benchmarks every month on that scale. Guaged in this manner, the hiring activity in April was 125, against 117 in March and 107 in February. A rival index from Naukri.com, JobSpeak, also shows a similar trend, posting the highest-ever rise of 63 per cent in Pune. This is also the first time that JobSpeak has crossed the pre-recession level of July 2008 in April.
Monster has a six-year old employment index in the US and in 2005 it had launched this in the European market where it covers 24 countries. According to Managing Director of Monster.com (India, Middle East and Southeast Asia), Sanjay Modi, the work on the India index began around August last year when it was felt that the market was moving to a level where tracking of job scenarios through an index was becoming important and the company already had the expertise from its other markets to leverage.
In a market cluttered with players giving their own two bits on the overall scenarios, some doing it on a monthly basis, like Naukri.com does through JobSpeak or on a quarterly basis through surveys, like Manpower or TeamLease or TimesJob.com do, the new index is essentially a "me too" from Monster.com. Apart from giving trend spotters, consultants as well as employees one more yardstick to guage the industry mood by, it will help Monster gain more visibility in the market than it has got so far.
According to experts in the field, the job portal has a limited presence in India and their index will not give a truely representative picture of the market as online job listings form only a fraction of the total job market. But since there is no single agency which tracks the movement of hiring in public or private sector, there is room for anybody and everybody with a track record to come up with useful insights to help the consumers take informed decisions.
Monster has a six-year old employment index in the US and in 2005 it had launched this in the European market where it covers 24 countries. According to Managing Director of Monster.com (India, Middle East and Southeast Asia), Sanjay Modi, the work on the India index began around August last year when it was felt that the market was moving to a level where tracking of job scenarios through an index was becoming important and the company already had the expertise from its other markets to leverage.
In a market cluttered with players giving their own two bits on the overall scenarios, some doing it on a monthly basis, like Naukri.com does through JobSpeak or on a quarterly basis through surveys, like Manpower or TeamLease or TimesJob.com do, the new index is essentially a "me too" from Monster.com. Apart from giving trend spotters, consultants as well as employees one more yardstick to guage the industry mood by, it will help Monster gain more visibility in the market than it has got so far.
According to experts in the field, the job portal has a limited presence in India and their index will not give a truely representative picture of the market as online job listings form only a fraction of the total job market. But since there is no single agency which tracks the movement of hiring in public or private sector, there is room for anybody and everybody with a track record to come up with useful insights to help the consumers take informed decisions.
No comments:
Post a Comment