Employers in India continue to demonstrate optimism for the second quarter in a row, according to the latest ManpowerGroup Employment Outlook Survey of nearly 3,150 employers.
India tops the list of countries across the globe with a Net Employment Outlook of 36 percent despite organisations struggling to activate their hiring plans with talent shortages at 80 percent. When compared to last year, the trend is moving upwards by 6 percent and has a marginal dip of 1 percent compared to the previous quarter.
The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
Overall, the strongest hiring intentions are among organisations in the North of India (40 percent) followed by the West (35 percent), South (33 percent) and East (30 percent) reporting the least optimistic outlooks. All sectors have shown a positive growth trajectory when compared to the same period last year.
Among the industry size, very large organisations indicate the strongest optimism in hiring with the Net Employment Outlook of 44 percent followed by large organizations (43 percent) and large enterprises (40 percent). When compared to the same period last year, there is an overall increase across Industry sizes, the highest being in Micro Organisations (15 percent) followed by Medium (10 percent).
Sector-wise, healthcare and life sciences continue to dominate the market with the strongest hiring intentions (44 percent), followed by Communication Services (43 percent), and Information Technology (41 percent). The weakest outlook is indicated in Energy and Utilities (20 percent).
“This is indeed a moment of pride for India. We have been consistent in demonstrating our capabilities and leveraging our demographic dividend. Industries in the Healthcare, Life Sciences and Renewable Energy are seeing rapid growth rate with the aide and support of Government initiatives," said ManpowerGroup’s India and Middle East Managing Director Sandeep Gulati.
“India is becoming a popular destination for medical tourism as well. We boast of the most FDA-approved production facilities globally, outside of the US. With the further strengthening of the educational infrastructure underway and a large pool of talent availability, there is no stopping India from progressing into the next orbit of growth and development,” he added.
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