Online hiring slows in India amid focus on upskilling workers
NEW DELHI, INDIA — E-recruitment in India declined 8% in September 2023 compared to September 2022, indicating a pullback in hiring as companies prioritize upskilling existing employees, according to the latest Foundit Insights Tracker survey.
The hiring index fell from 277 in September 2022 to 255 in September 2023. E-recruitment also saw a 2% month-over-month decline.
“India is experiencing a temporary hiatus in hiring as companies focus on upskilling their current employees to the changing landscape before hiring new talent. However, our economic prospects are bright and resilient against global headwinds,” said Sekhar Garisa CEO of Foundit.
“The rise in real wages and disposable incomes is boosting demand, particularly in private health insurance, retail, and consumer durables.”
Garisa highlighted upskilling’s importance in harnessing India’s potential, aided by increased access to finance, infrastructure improvements, and favorable policies.
Some sectors like shipping, retail, travel, and automotive defied the slowdown, even seeing double-digit online hiring growth. But sectors like IT hardware/software and business process outsourcing experienced declines.
Foundit, established in 2007 and headquartered in Bangalore, leverages technology and more than 500,000 employees. It serves over 3,000 clients across nine countries.
