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Saturday, November 7, 2009

PSUs back in hiring game

While private sector firms are hiring actively again, public sector undertakings (PSUs) are not lagging behind. Just a decade ago, many state companies were seen high on headcount on low on ambition, but now, things have changed.PSUs in banking, telecom, infrastructure and power are hiring on the back of growing business and demand and are expected to hire as many as 25,000 to 30,000 people over the next one year.

Power equipment maker BHEL had in 2007 announced plans to hire 20,000 people by 2012. It has already hired 8,500 and is reviewing requirements.

“We are in a growing sector and need people for timely execution of our projects. Hiring is an ongoing process,” said a senior official who did not want to be identified.

Telecom giant Bharat Sanchar Nigam Ltd (BSNL) is looking to hire 4,000 junior engineers by March. PSU banks are expected to hire as many as 25,000 to 30,000 more people in the next two years with SBI alone expected to hire over 10,000 people in the next one year.

Mid-sized banks such as Corporation Bank are also hiring.

India's banking sector is looking up in the wake of branch expansion, and also because of the fact that the country's financial institutions have gained from old-fashioned prudence and protected from the effects of the financial meltdown that has hurt banks in Europe and the US. This is fanning the hiring of people in PSU banks.

The expansion of telecom services and mobile phone penetration in rural areas is pushing BSNL to hire more people. While firms like Bharti Airtel and Vodafone are making fast inroads in urban areas, BSNL remains the overarching, entrenched rural leader.

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