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News » India’s flexi staffing industry sees 18.5% YoY growth

India’s flexi staffing industry sees 18.5% YoY growth

india-flexi-staffing-industry-growth

NEW DELHI, INDIA—India’s flexi staffing industry witnessed a significant surge in employment during the April-June 2024 period, recording a 5.2% quarter-on-quarter (QoQ) growth and an impressive 18.5% year-on-year (YoY) increase. 

This growth, detailed in the Indian Staffing Federation’s Q1 FY2025 report, highlights the addition of 220,000 new workers to the flexible workforce. 

The industry’s expansion is particularly evident in sectors such as fast-moving consumer goods (FMCG), E-commerce, manufacturing, healthcare, retail, logistics, banking, and energy.

Understanding flexi staffing

Flexible staffing, or flexi staffing, refers to the employment practice of hiring workers on a temporary or flexible basis rather than through permanent contracts. 

This model allows businesses to adjust their workforce according to demand fluctuations and provides employees with diverse work experiences across various industries.

General flexi staffing leads growth

The general flexi staffing segment (excluding IT) has shown remarkable growth over the past two quarters. 

Indian Staffing Federation President Lohit Bhatia said, “The Q1 FY25 report reflects that the flexi staffing industry has maintained a robust double-digit growth trend. Additionally, the general staffing segment has demonstrated strong performance with a notable 19.1% year-over-year growth.” 

This surge indicates renewed momentum in hiring activities following a period of slower growth.

IT staffing industry rebounds

After facing challenges in the latter half of 2023, the IT staffing industry has also rebounded with positive QoQ and YoY growth rates of 1.4% in Q1 FY2025. 

Manmeet Singh, Vice President of the Indian Staffing Federation, noted that “the IT staffing industry has experienced a positive turnaround.” 

The growth is driven by increased digital adoption and government infrastructure projects, with global capability centers (GCCs) leading the charge in creating new employment opportunities.

Future outlook

The total formal flexi workforce employed by Indian Staffing Federation members reached 1.7 million by the end of Q1 FY2024-25. The reported figures underscore the combined contributions of both general and IT flexi staffing industries. 

As market dynamics continue to shift positively, the flexi staffing industry is poised for sustained growth across various sectors.

Read more here.

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