Temp salaries in Bangalore soar: Study
Salaries in India’s temporary hiring sector went up the highest in Bangalore as it witnessed enviable growth rates of about 8.3 percent last year, says a study by a staffing solutions company.
Bangalore is closely followed by Mumbai (7.8 percent) and then Delhi (7.3 percent), says the Annual Temp Salary Primer by TeamLease Services.
The report is a comprehensive report on a variety of attributes that govern the dynamics of the temporary employment market ? skills, salaries, increments and longevity ? the inverse of attrition.
According to the report, temporary hiring gained traction as compared to the previous year and and zipped ahead at 17 percent towards the last quarter, a rate of growth last seen half a decade ago. The industry may not be cautious anymore while hiring, but they sure are being very choosy while rewarding talent.
The report covers 13 key industry verticals that have active temporary staffing practices including Agriculture and Agrochemicals, Automobile and Allied Industries, Consumer Durables, Power and Energy.
The functional domains analysed are Accounts, Administration Blue Collar, Support Services, Engineering, Human Resources, IT and Sales and Marketing while the locations covered are Ahmedabad, Goa, Kolkata, Bangalore, Hyderabad, Lucknow, Chandigarh, Indore, Mumbai, Chennai, Jaipur, Pune, Delhi and Kochi.
The report reveals that the Information Technology sector is back in the reckoning after almost three years of staying in the shadows.
The study also says that salary raises are now spread over a larger set of profiles across industries and cities. This is primarily because of the rush and need for skills and the right talent.
This phenomenon has pushed the median salary increment to 7.3 percent, up from 5.25 percent in 2009.
The increase in hiring within sectors and opening up of different sectors to temporary hiring has their downside too, said the company.
Newer avenues for employees are increasing and as a result, the longevity of a temporary employee in industries like Agriculture / Agrochemicals, FMCG and Manufacturing & Allied Industries has gone down by up to three percentage points.
The BFSI, Hospitality, IT and Telecommunication sectors experience a 1.5 to 4 percentage point drop. However, this is also an indication that temporary staffing is truly the springboard to permanent orbit, the study says.
According to Sangeeta Lala, Vice-President, TeamLease Services, ?The Indian temp market is simultaneously maturing and growing. Not only is temporary staffing spreading across job profiles within industries but the traditional temp laggard manufacturing sector is fast catching up with the services sector.”
“The current 90 million temp workforce in India is only the tip of the iceberg as salaries converge between temp and perm jobs. The industry plays a vital role as a portal for unorganized sector workers to enter the organized sector and a vehicle that allows employers to take potential employees for a test drive,” she said.
