July 22, 2008, 0:32 IST
The present slowdown across much of the world seems to be having a sobering effect
on the firms that had seen growth at a break-neck speed when the economy was
growing around 9 per cent.
In a free-wheeling discussion, CEO (India and Middle East) of Adecco, the world's
largest staffing firm and India's second largest staffing solutions firm, Sudhakar
Balakrishnan tells Praveen Bose the present situation is one only of consolidation.
What has been the effect of the slowdown on hiring scene?
Clients are still hiring. Their hiring plans remain the same. We see economic growth
going on for the next four years to five years. The surpluses created by the good growth
over the previous years will ensure that the growth can go on.
The cost-advantage story of India remains just as it had been. Firms still look at India as
a place where they can leverage their costs and hence outsourcing continues.