(PTI): Employers in India are anticipating a measured hiring pace in the next three months, as organisations are focused on investing in the professional development of their workforce and creating a positive work culture, a survey said on Tuesday.
According to the latest ManpowerGroup Employment Outlook Survey of nearly 3,020 employers across sectors and regions, hiring intentions have declined by 17 per cent when compared with the same time last year, while on a quarter-on-quarter basis, it has seen a marginal improvement of 1 per cent.
The Net Employment Outlook for the October-December quarter stood at 37 per cent, up 1 per cent from the July-September quarter of 2023, and decreased by 17 per cent when compared with the same time last year.
The survey said that recruiters noted factors like a positive work environment, clear goals and objectives, and professional development including training, upskilling, and reskilling, as the main contributors to increased workforce productivity.
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Sandeep Gulati, managing director of Manpower Group India and Middle East, said the survey results represent that the economy is stable in the face of geopolitical and economic volatilities worldwide. He added, “The government’s unwavering focus and initiatives to drive growth in key sectors coupled with the onset of the festival season are expected to act as crucial reinforcements and boost the hiring sentiments across the country.”
The survey revealed that employers in the North region of the country reported the strongest hiring intentions of 40 per cent, followed by the West region with 38 per cent hiring intentions. The South and East regions reported hiring intentions of 36 and 34 per cent respectively. Among sectors, IT and Tech sectors accounted for driving the market demand for new talent. The sector reported the highest net employment outlook of 44 per cent for the fourth quarter in a row, but this outlook stood 20 per cent weaker when compared to the October to December quarter of 2022.
In the Asia Pacific region, the survey found that India reported the strongest outlook with 37 per cent, closely followed by Singapore at 36 per cent. Japan reported the most cautious outlook by employers at 11 per cent.
Further, more recruiters are now willing to hire individuals older in age and looking for employment changes to combat shortage. This data stood at 34 per cent. While demand for those individuals who have been unemployed due to caretaking responsibilities stood at 27 per cent. Respondents reported a demand of 27 per cent for individuals with non-linear career paths and 26 per cent for those who have been unemployed for long-term.
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