Job cuts cause NRIs to return home

With unemployment rising and pay-packages shrinking in many parts of the western world, global Indians are choosing to return to their homeland in search of a prosperous life.

According to latest figures released by a recruitment industry firm, Indian companies are hiring more NRIs this year than they did a year ago.

A hiring-solutions provider has predicted that non-resident Indians (NRIs) will represent one in five people hired in the last quarter of this year, compared with only 11 per cent in the same period last year.

According to MyHiringClub.com, as high as 21 per cent of people hired between April and June this year were NRIs.

The high economic growth in India, with many good opportunities, has fuelled the NRI thought process to head back, says MyHiringClub.com CEO Rajesh Kumar, in an interview to a news agency.

“In addition to that, many Indian companies are shutting their offices in the West.

“It is not only the major crisis in the West, but also a combination of economic, social and other factors that has driven this.”

Not surprisingly, IT and IT-enabled-services sectors will be absorb the largest section of global Indians returning to India. However, automobiles, manufacturing and engineering, banking and financial services, infrastructure, telecom, FMCG and retail sectors will also come to party.

Based on a survey of 429 organisations and 710 recruitment consultants, the study predicts Bangalore to see the maximum growth in NRI recruitment activity, followed by Mumbai, Delhi and Hyderabad.

However, it is the less experienced NRIs that are likely to get hired easily, as the survey found that those with less than five years’ work experience had a 52 per cent likelihood of getting a job. Unfortunately, the most experienced NRIs, those with more than 15 years’ experience, will have a 5 per cent chance of finding employment.