Employers in India expect recruiting to grow at a measured pace in the next three months, a survey stated on Tuesday. The Manpower Group Employment Outlook Survey noted that companies are focused on enhancing the professional development of their workforce and building a positive work culture, therefore hiring pace is projected to be measured in the upcoming months.
The survey, involving 3,020 employees across sectors and regions, stated that hiring intentions for the upcoming quarter has seen a decline on a year-on-year basis by 17 per cent. The Net Employment Outlook for the October to December quarter of 2023 stood at 37 per cent, registering an increase of 1 per cent over the previous July to September quarter in the year. This number is calculated by taking the percentage of employers expecting a surge in hiring activity and subtracting from this the percentage of employers anticipating a decline in hiring activity, reported PTI.
The survey said that recruiters noted factors like a positive work environment, clear goals and objectives, and professional development including training, upskilling, and reskilling, as the main contributors to increased workforce productivity.
Sandeep Gulati, managing director of Manpower Group India and Middle East, said the survey results represent that the economy is stable in the face of geopolitical and economic volatilities worldwide. He added, “The government’s unwavering focus and initiatives to drive growth in key sectors coupled with the onset of the festival season are expected to act as crucial reinforcements and boost the hiring sentiments across the country.”
The survey revealed that employers in the North region of the country reported the strongest hiring intentions of 40 per cent, followed by the West region with 38 per cent hiring intentions. The South and East regions reported hiring intentions of 36 and 34 per cent respectively. Among sectors, IT and Tech sectors accounted for driving the market demand for new talent. The sector reported the highest net employment outlook of 44 per cent for the fourth quarter in a row, but this outlook stood 20 per cent weaker when compared to the October to December quarter of 2022.
In the Asia Pacific region, the survey found that India reported the strongest outlook with 37 per cent, closely followed by Singapore at 36 per cent. Japan reported the most cautious outlook by employers at 11 per cent.
Further, more recruiters are now willing to hire individuals older in age and looking for employment changes to combat shortage. This data stood at 34 per cent. While demand for those individuals who have been unemployed due to caretaking responsibilities stood at 27 per cent. Respondents reported a demand of 27 per cent for individuals with non-linear career paths and 26 per cent for those who have been unemployed for long-term.
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