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Hiring boom to continue, most sectors have positive outlook: Report

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India’s hiring spree is expected to continue in the new year with companies’ intent for hiring during the January-March 2022 period reaching its highest levels in eight years. The IT sector has been driving much of the job growth, though all 11 sectors surveyed by ManpowerGroup for their Employment Outlook Survey had net positive hiring sentiments for the upcoming quarter.

Hiring boom to continue, most sectors have positive outlook: Report
India’s hiring spree is expected to continue in the new year with companies’ intent for hiring during the January-March 2022 period reaching its highest levels in eight years. About 64 percent of the employers covered in the ManpowerGroup Employment Outlook Survey said that they would be hiring more people in the coming quarter, reported Economic Times.
Of the 3,020 respondents, only 15 percent stated that staffing levels would decrease over the coming quarter. The net employment outlook for the coming quarter according to the survey now stands at 49 percent, the highest level seen since 2014. The survey also stated that 20 percent of employers would keep their workforce levels steady in the coming few months. The net employment outlook has increased by 5 percentage points over the previous quarter, October-December 2021, and by 43 percentage points from the previous year.
A rapid economic recovery, led by the especially bolstered IT, digital and technology sector has led to a shortage of talent in key positions, with companies scrambling to onboard freshers and new hires constantly. The war on talent is also playing out in the banking and BFSI sectors as well.
"The 'Great Resignation' is additionally impacting the hiring sentiments in companies, especially in the IT and technology sectors,” Sandeep Gulati, Managing Director, ManpowerGroup India, told ET.
IT, technology, telecoms, communications and media had the strongest employment outlook for the coming quarter, with the hospitality sector, BFSI sector and real estate companies following close behind in hiring sentiment. While all 11 sectors surveyed had a net positive outlook for hiring, construction and primary production sectors had the least optimistic outlook for hiring in the coming months.
As the country recovers from the after-effects of the COVID-19 pandemic, most companies are looking to rebuild and capture the growing market. Around 80 percent of the businesses in India are likely to increase their full-time workforce over the next 12 months, stated a recent HSBC survey.
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