INDIA PLANS TO INCREASE HIRING DURING THE JULY-SEPTEMBER PERIOD: TEAMLEASE

 

In India, entry-level and junior positions are expected to have the highest proportion of new employees.

The cities of Bangalore, Chennai, Mumbai, Delhi, and Hyderabad are projected to have the most job growth.

The highest hiring intentions are displayed by large enterprises, while the hiring intentions of small businesses are growing the fastest.

India Inc. might increase its hiring in the second quarter compared to the first. A TeamLease survey indicates that hiring intent, or the proportion of firms willing to hire workers, increased to 61% for the quarter ending in July-September from 54% in April-June 2022.

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The new hiring, however, is probably going to be for entry-level and junior positions, where there is a high intent to employ. According to TeamLease's Q2 Employment Outlook Report, hiring intentions gradually decline for mid-level posts and reach their lowest levels for senior positions.

"India's GDP increased to 8.7% in FY 2021–22 after declining by 6.6% in the prior fiscal. This, together with a plethora of governmental investments in PLI (production-linked incentive) programmes - in the manufacture of solar cells and bulk medications, for example - are set to provide job creation with a boost in the upcoming quarter, according to the research.

According to the study, the government of India's 2.65 lakh crore stimulus plan, which aims to create jobs and boost liquidity across the tourist, aviation, construction, and housing sectors, also aims to restore revenue and employment levels in these industries to pre-pandemic levels.

However, the IT industry had the largest hiring intent, which was then followed by educational services, e-commerce and related startups, healthcare and pharmaceuticals, and telecommunications.

Bangalore, Chennai, Mumbai, Delhi, and Hyderabad, in that order, are the metro areas where the majority of these employees are anticipated to be located. According to the research, Pune, Ahmedabad, and Kolkata have "moderate" intent.

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