New Delhi, 5th April 2022: TeamLease Services, India’s leading human resource company / India’ leading people supply Chain Company today launched the latest edition of its quarterly comprehensive hiring outlook analysis called ‘Employment Outlook Report’ for the period April- June 2022. A detailed research, it provides insights about the hiring trends and factors that drive job creation across 21 sectors and 14 cities. According to the report hiring sentiments are on a growth trajectory in the current quarter (April- June’22). More than 54% of the employers, 4% point higher than the previous quarter (Jan- March’22) surveyed have expressed their intent to hire.
What more, out of the 21 sectors reviewed 16 have indicated keenness to hire. Incidentally, Information and Technology (95% of the employers keen to hire) followed by Educational Services (86% of the employers), E commerce and technology start-ups (81% of the employers) and Healthcare and Pharmaceuticals (78% of the employers) are front runners in the hiring intent.
From a sector point of view the laggards are Agriculture & Agrochemicals, BPO / ITeS, Fast Moving Consumer Durables and Retail [Non-Essential]. Dwelling deep into the geographies, though not at the same rate jobs seems to be spread across geographies. While the hiring intent in in the Metro and Tier 1 cities has grown from 73% in the previous quarter, to 83% in the current quarter, Tier-2 cities are not far behind. The hiring intent in Tier-2 cities has will see a rise from 48% to 55% – a 7% change in the period April to June’ 22. Further, amongst cities, Bangalore (91% of the employers keen on hiring) and Chennai (78% of the employers keen on hiring) are continuing their bull run. But when it comes to growth, it is Mumbai. Mumbai has recorded a 17% growth over last quarter in the hiring intent.
A comprehensive report covering the intent to hire across business sizes and hierarchies, as per the report, while last quarter saw a spike in hiring by large businesses, the current quarter seems to have a stabilised approach. In fact all types of businesses are planning to hire at a steady pace. But when it comes to hierarchies, entry level talent seems to have got their mojo back. The category has been seeing a 10% Q-on-Q growth in hiring intent. Further, from a function point of view, Sales (82%) and IT (75%) continue to rule the functions who are in demand.
Commenting on the findings, Ms. Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services, said “The back to office culture and normalcy coupled with income growth projections as well as the superior export performance is fuelling a growth in demand for talent across all the sectors. While the overall growth in intent may be moderate, more than 14% of the sectors have indicated a double digit growth indicating that the modest approach will soon taper off and the appetite to scale up manpower will grow significantly.”
The report also gives a detailed view on the attrition trends as it plays an important role in the business growth. As per the report, though not as significant as what was witnessed during Jan – Mar 2021-22, attrition still seems to be a on a rise across most sectors compared to the previous quarter.
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The TeamLease Employment Outlook Report is a forward looking tool for human resource professionals, policy and decision makers and reflecting the dynamic governing hiring. The survey covers 796 small, medium and large companies across the 21 sectors across India. The coverage is spread across 4 geographical areas [Metros, Tier-1, Tier-2/3 and Rural], 4 hierarchical levels [Entry, Junior, Mid and Senior Levels] and 7 functional areas [Sales, Marketing, Information Technology, Engineering, Office Services, Human Resources, Blue Collar].
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