Hiring to improve in the coming three months: Report
Employers in the north report the strongest hiring intentions for January-March quarter followed by south and west
Indian employers have robust hiring intentions for the next three months, with 49% of companies planning to add more staff in the January-March quarter, as employers are positive about achieving sustained post-pandemic recovery, a survey said on Tuesday.
According to the latest ManpowerGroup Employment Outlook Survey, hiring sentiment in India is the strongest reported in eight years, improving by five percentage points in comparison with the prior quarter and by 43 percentage points when compared with this time one year ago.
The survey of 3,020 employers noted that 64% expect to increase their staffing levels, 15% anticipate a decrease and 20% do not anticipate any change, resulting in a seasonally adjusted Net Employment Outlook of 49%.
Resignation continues to impact IT
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.
“India registered a V-shaped recovery owing to increased consumer spending, educational sector opening up and the government’s sustained efforts to accelerate vaccination coverage thereby breaking the virus chain,” Sandeep Gulati, Managing Director, ManpowerGroup India said.
Gulati further added that “the boost in hiring outlook reflects employers’ sustained confidence in achieving a post-pandemic recovery. The ‘Great Resignation’ is additionally impacting the hiring sentiments in companies especially in the IT and technology sectors.”
However, due to the skill gap, talent shortage continues to prevail and it has become increasingly difficult for companies to find and hire the right talent, Gulati said, adding that “Coupled with that is the new variant that is seemingly creating volatility for the administrators”.
Employers in large organizations report the most optimistic outlook with 51% intending to hire in the first quarter compared to 25% in small companies. Employers in the north report the strongest hiring intentions for January-March quarter followed by south and west.
When asked about mandating vaccines, the survey revealed that 91% of employers will mandate double vaccination and require proof for all staff, while 3% will allow individuals to decide.
The survey further noted that digital roles are most in-demand. IT, technology, telecoms, communications and media reported the strongest outlook (60%), followed by restaurants and hotels (56%) and banking, finance, insurance and real estate (52%).
According to the survey, more employers are embracing the blend of work and home. Corporates expect to adopt hybrid working for 51% of finance and accounting and 49% of human resource staff, while 45% of production and manufacturing staff is expected to be at the workplace all the time.