India’s hiring intent at 27-month high as job vacancies rise
The Indian job market’s hiring intent has hit a 27-month high as 61% of companies are intending to hire for white-collar and blue-collar roles in the July-September quarter.
According to the latest Teamlease Employment Outlook Report, India’s employers will go ahead with their Q3 hiring plans despite macroeconomic headwinds from high inflation, rising cost of money, and ongoing geopolitical tensions.
The report, based on a survey of nearly 900 small, medium, and large companies across 23 sectors and 14 cities, showed that the positive near-term indicators — including increased mobility, pent-up demand, and rise in consumption in certain sectors — are prompting companies to plan for manpower needs for future growth.
Teamlease Services Executive Director Rituparna Chakraborty said, “Finding the right talent at the right time is a challenge for companies, while the double-digit attrition in several sectors such as information technology, educational services, and healthcare and pharmaceutical, etc., is prompting companies to pre-empt and hire.”
Chakraborty added that the festival season in August will also lead to a lot of festive demand for talent, especially in the blue-collar segment.
The IT industry leads the sectors in hiring intent, with 98% of companies planning to recruit additional employees in the third quarter of the year.
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