Nearly half of the employers surveyed expect to increase their staffing levels, while 13 percent anticipate a decrease in hiring intent and 34 percent do not anticipate any change, according to a report.
When compared to the same period last year, hiring sentiments have declined by 15 percent while there is a 6 percentage point growth when compared to the last quarter, showed ManpowerGroup Employment Outlook Survey.
Hiring markets in India ranks second after Australia in the region, and fifth globally.
Employers in all four regions in India are expecting a strong pace when compared to last quarter. East has indicated the highest growth rate with 9 percent followed closely by West (8 percent), North and South with 6 percent each when compared to the last quarter.
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The IT, Technology, Telecom, Communications, and Media sector reveals a 47 percent hiring outlook, with 89 percent of companies actively recruiting for green jobs. Similarly, the Financials and Real Estate sector demonstrates a 41 percent hiring outlook, with 85 percent of companies emphasizing green job recruitment.
The top five areas of concern in green job recruitment include finding qualified workers, understanding which existing skills need to be updated, creating relevant upskilling and training programs, identifying current skills which can be applied and calculating the ROI for the business.
“India is one of the significant IT talent hubs for tech companies across the globe. Coupled with that, is the government’s continuous reinforcement in the semiconductor industry, both of which are fortifying the IT sector as the dominant player for growth in the Indian job market,” said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East.
Furthermore, he added, “The demand during the festival season is expected to fuel the overall economy which will largely impact the temp staffing industry as well as the gig economy positively.”
At the beginning of last year, four new industries were added – Primary Production, IT and Technology, Not for Profit and Restaurants and Hotels. An increase in payrolls is forecast for all eleven industry sectors during the coming quarter.
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IT and Technology sector employers report the strongest hiring intentions with a Net Employment Outlook of 47 percent followed by Finance, Insurance and Real Estate (41 percent) and Healthcare and Life Sciences (40 percent).
The ‘Net Employment Outlook’ is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location in the next quarter.
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