The TeamLease Employment Outlook Report has found an uptick in companies’ intent to hire in October-December and is the highest in the past one-and-a-half years.
As per the survey, 41percent of the surveyed companies intend to hire in this quarter, up from 38 percent in July-September. The numbers had nosedived to the lowest last year - an average of 18 percent in the two successive quarters to September. The survey covered 650 small, medium and large companies across 21 sectors.
"There is an overarching high sense of positivity in the Indian white- and blue-collar job market," said Rituparna Chakraborty, Executive Vice-president, TeamLease Services. "This optimism is panning out across sectors and job types in urban as well as rural areas. The back-to-office plans of companies are also an indicator that businesses are not worried about any major disruption and even if there is another wave, they claim to be better prepared and more confident to hire for immediate and future growth."
Earlier in September, Manpower-Group Employment Outlook Survey also indicated that Indian employers are bullish on hiring for October to December with 64 percent of employers forecasting an increase in payrolls, 20 percent anticipating a decrease and 15 percent expecting no change.
Delving deeper into the study, a rapidly improving consumer sentiment has boosted the demand for sales roles. Harnessing the potential of online business delivery and addressing the compulsions of remote and hybrid work have created sustained demand for the IT function. Further, the key factors that could be adding to the increase in hiring include vaccination, back to office and hybrid plans, and the onset of the festive season. Further, robust economic growth indicators, performance-linked incentive (PLI) schemes for certain industries, a revival in rural sentiment and a sharp bounce-back in contact-intensive services are among the positive factors leading to the need for more manpower, according to the report.