The third quarter of the ongoing fiscal (2021-22) is expected to record more recruitments than in any financial quarter in the past seven years, reveals the latest ManpowerGroup Employment Outlook Survey.
About 64 percent of 3,046 employers covered in the survey said they will hire more people in the December quarter. While 15 percent of the employers expected no change in their workforce, only 1 percent were unsure of hiring intentions. The remaining 20 percent of employers expected fewer additions to the workforce.
The hiring outlook in the previous quarter was 44 percent. The strongest hiring outlook — about 50 percent — was recorded in the services sector, followed by manufacturing (43 percent), and finance, insurance, and real estate sector (42 percent).
The previous high in net employment outlook was 48 percent in the second (July-September) quarter of 2014-15.
Job creation is likely to see the strongest recovery in the western states of India where the net employment outlook was recorded at 49 percent, followed by an outlook of 45 percent and 43 percent in the east and the north, respectively, and 37 percent for the south.
This increase in employment prospects is a consequence of rising demand for products and services and easing of COVID-19 restrictions in India, adds the report.
According to Sandeep Gulati, group managing director, ManpowerGroup India, positive sentiment is gripping the market. He added that the major factors behind this optimism are — the onset of the festive season, speed of vaccination, and easing of travel restrictions. He also pointed out that the Centre's production-linked incentives are likely to boost domestic production.
Meanwhile, another Manpower report on COVID-19 impact and talent shortage has underscored that 62 percent of the companies (covered in their survey) say they are unable to match job profiles with talent due to the lack of requisite skills.
First Published: IST