56% employers plan to grow workforce, healthcare leads in hiring: TeamLease report

According to the survey, the industries with the most employers indicating plans to increase their workforce are healthcare, pharma, automotive, manufacturing, engineering, and infrastructure.

At least 56 percent employers are planning to expand their workforce in the coming months, according to a report by staffing firm TeamLease Services.

The TeamLease Employment Outlook Report, which surveyed 1,417 employers in 20 cities, highlighted that 23 percent employers plan no change in manpower strength. The report checks hiring sentiments for India’s employment stakeholders till September 2024.

Employers in healthcare, pharma, automotive, manufacturing, engineering, and infrastructure sectors have hiring plans. In terms of size if growth in workforce, construction and real estate, travel and hospitality, electric vehicles (EV), and EV infrastructure lead the league.

The report highlighted Delhi, Bangalore and Hyderabad are at the forefront where employment opportunities are thriving, with 53.21 percent, 50.46 percent, and 47.57 percent of employers indicating beefing up their workforce sizes in these established job hubs.

Emerging job locations such as Coimbatore, Visakhapatnam, and Jaipur see notable growth, with 18.28 percent, 15.88 percent, and 15.46 percent of employers expressing interest in expanding their workforce. Start-ups, small businesses, and medium-sized companies are rapidly expanding their workforce.

In terms of in-demand skills, employers are actively seeking candidates with strong communication skills, attention to detail, technical proficiency, and organisational abilities. This shift towards a more adaptable and skilled workforce is further underscored by the report's finding that nearly 43 percent of organisations are focusing on bridging skill gaps, emphasising the shift towards a more adaptable and skilled workforce prepared for technological advancements and the advent of new skills.

The report also highlights the impact of generative AI on workforce dynamics and talent management strategies. Generative AI holds the promise of transforming key business processes, and in response, 35 percent of surveyed organisations report a substantial change in talent acquisition approaches to accommodate the integration of advanced AI technologies such as generative AI.

"With India forecast to be the fastest-growing G-20 economy in 2024, coupled with strong investment demand and easing inflation, the job market remains resilient in the face of global headwinds. Nearly two out of five organisations are prioritising skill development, equipping their workforce for the technological advancements that lie ahead. The findings of our report shed light on the dynamic and optimistic hiring landscape,” said Kartik Narayan, CEO of TeamLease Staffing.