Intent to hiring at 18-month high in the third quarter of FY22, Report

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Intent to hiring at 18-month high in the third quarter of FY22, Report

According to the Teamlease Employment Outlook Report, hiring activity is expected to witness a strong rebound in the third quarter (October-December) of fiscal 2022.

The report says that the intent to hire plunged to the lowest level (18 percent) during the April-June and July- September quarters of FY21.

The study is done of 650 companies in 21 sectors, 41 percent intend to hire in this quarter, up from 38 percent companies in the July-September quarter.

Among the sectors, IT shows the strongest intent to hire with 69 percent, followed by educational services (64 percent), healthcare and pharmaceuticals (61 percent), FMCG (59 percent), and e-commerce (57 percent).

Region-wise trends show that the strongest hiring intent is in Bangalore at 67 percent, followed by Delhi 59 percent, Hyderabad 53 percent, Pune 46 percent and Chennai 45 percent.

The intent to hire for the entry and junior level jobs stood at 34 percent each, followed by senior level (27 percent) and mid-level (24 percent).

The growing market trend has propped up demand for sales roles, which showed the strongest intent to hire at 58 percent among all functional areas.

The trend is followed by the IT sector (43 percent), marketing (40 percent), engineering (37 percent), blue-collar (40 percent), and human resources (14 percent).

Some of the key factors influencing the uptick in hiring include vaccination, the onset of the festive season, and back-to-office and hybrid plans, the report said.

Commenting on the report, Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services said, “Robust GST & e-way bill generation, recovery of the manufacturing PMI, increasing in business activities, improvement in the industrial and service sector activity, rise in demand across sectors and the ramping up inoculation are not only positively impacting the economy but also the job scenario,”

Though this quarter may have seen a 3 percentage point, the larger picture is that there is a 5 percent quarter-on-quarter growth in the hiring sentiment since January, indicating that the recovery is on the right track and we would need is only fast-tracking to offset the impact of the pandemic, Chakraborty added.

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