Plenty of new jobs and boom sees attrition rates rise

Six sectors are expected to create 2.3 lakh jobs in India in the last three months of 2010, according to global consultancy Ernst and Young. The six sectors are healthcare, real estate, IT/ITeS, education & training, manufacturing and Banking, Financial Services and Insurance (BFSI). Among them, healthcare industry alone is projected to generate 60,000 jobs in fourth quarter of 2010. Real estate and IT/ITes sector, each are expected to create 50,000 jobs. Education & training industry is projected to generate 30,000 jobs. Manufacturing and BFSI sectors would each be churning out 20,000 jobs in the 2010 fourth quarter, E&Y said.

India's booming service sector market is facing attrition rates of 35 percent as workers switch jobs for fatter pay packets, a survey said Saturday. The figures were the latest sign of a pick-up in India's job market from last year's levels, when the economy was still feeling the effects of the global financial crisis.
Those switching jobs at senior level received average raises of 25-30 percent from new employers, the survey conducted by India's Associated Chambers of Commerce and Industry said. The pay hike was 10 to 15 percent for less experienced employees with two to four years' experience, said the survey, which polled 134 human resource heads. India's fast-growing financial services sector saw the biggest attrition rate in the first six months of the year, followed by the information technology sector with 24 percent turnover.

On the other hand, in Education, IIM Lucknow will admit fewer engineering graduates this year, and give more weightage to non engineering students like in medicine, arts, journalism, law, commerce, dentistry and pharmacy. Also SKIL Infrastructure, which recently forayed into the education sector in partnership with University of Strathclyde Business School, will open the Scottish varsity's campus in Noida. This would be the first campus of the university in India and on the cards are Mumbai and Chennai campuses soon. The Noida campus would be functional in September 2011 and more than 1,200 students are expected to join the school. The recruitment process for the academic staff would begin next month. SKIL Group CEO is J P Rai.