Strong staffing climates are predicted in India from June to September 2024 with a Net Employment Outlook (NEO) of +30% points. The survey, gathering data from 3150 employers depicted Financial and Real Estate industries as forerunners in creating employment followed by Healthcare and Life Sciences.
However, compared to the last and third quarters of 2023, the Indian NEO has worsened by 6 points. India ranks sixth globally for its employment outlook, 8 points above the global average.
“The global slow down has been impacting the IT sector in India for quite a while. Added to the circumstances, is the political uncertainty looming over the country due to general elections during data collection of this survey,” said ManpowerGroup’s India and Middle East Managing Director Sandeep Gulati.
“Real Estate sector, however, has seen an increased investor interest with a capital inflow to the tune of 1.1 billion USD led by the residential sector”, Sandeep Gulati added.
The survey has showed the following findings:-
- Overall, the strongest hiring intentions continues in North of India (+36%) followed by West (31%), South (+30%) and East (+21%) reporting the least optimistic outlooks. All sectors have, however, declined when compared to the same period last year.
- Among the Industry size, large organizations (1000-4999) indicate strongest optimism in hiring with the Net Employment Outlook of 42% followed by small (50 – 249) and medium (250-999) organizations (34%) and large enterprise (30%). When compared to the same period last year, there is an overall decrease across Industry sizes with no change in the small industries.
- Sector-wise, Financials and Real Estate sector and Healthcare and Life Sciences continues to dominate the market with strongest hiring intentions (+39%) and (+36%) respectively, followed The weakest outlook is indicated in Communication Services and Transport, Logistics and Automotive (+17%).
- More than 62% of employers have adopted AI including generative conversational AI with 80% of the Senior Leadership team optimistic about the positive impact of AI on overall business as opposed to 68% of Frontline and Factory workers.
- Contrary to common belief, almost 68% of employers plan to increase headcount due to adoption of AI and Machine Learning over the next 2 years led by Communication Services sector (75%), Financial and Real Estates (72%), Industrials & Materials and Information Technology (70% each).
Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates, Subscribe to our Channels. WhatsApp– Click Here, Google News– Click Here, YouTube – Click Here, and LinkedIn– Click Here.
