36 Per Cent Indian Firms Planning To Hire In Next Three Months, Reveals Survey

India's net employment outlook has shown a 6 per cent improvement since April-June 2023 but decreased by 1 per cent compared to the preceding quarter

Indian employers maintain a positive hiring outlook for the upcoming June quarter, with 36 per cent of companies planning to expand their workforce in the next three months, according to a survey conducted by ManpowerGroup encompassing nearly 3,150 employers released on Tuesday. It further revealed that India boasts the strongest outlook among 42 countries worldwide. For the April-June period, 50 per cent of employers anticipate a rise in payrolls, while 14 per cent foresee a decrease, and 33 per cent expect no change. With a resulting net employment outlook of 38 per cent, the majority of employers remain optimistic about hiring trends.

"India tops the list of countries across the globe with a Net Employment Outlook of 36 per cent despite organisations struggling to activate their hiring plans with talent shortages at 80 per cent," said ManpowerGroup in a statement.

India's net employment outlook has shown a 6 per cent improvement since April-June 2023 but decreased by 1 per cent compared to the preceding quarter. Derived from the percentage of employers expecting an increase in hiring activity subtracted from those anticipating a decrease, India's net employment outlook stood at 36 per cent, the highest globally. Following India were the US at 34 per cent and China at 32 per cent. The global average was 22 per cent, with Romania reporting the weakest outlook at -2 per cent.

"This is indeed a moment of pride for India. We have been consistent in demonstrating our capabilities and leveraging our demographic dividend. Industries in Healthcare, Life Sciences and Renewable Energy are seeing rapid growth rates with the support of government initiatives," highlighted ManpowerGroup’s India and Middle East Managing Director Sandeep Gulati.

In terms of sectors, healthcare and life sciences maintain their lead in the market with the strongest hiring intentions at 44 per cent, closely followed by communication services at 43 per cent and information technology at 41 per cent. Conversely, the energy and utilities sector shows the weakest outlook at 20 per cent.

"India is becoming a popular destination for medical tourism as well. We boast of the most FDA-approved production facilities globally, outside of the US. With the further strengthening of the educational infrastructure underway and a large pool of talent availability, there is no stopping India from progressing into the next orbit of growth and development," Gulati added.

The survey reveals that organisations in the North of India exhibit the strongest hiring intentions at 40 per cent, followed by the West at 35 per cent, the South at 33 per cent, and the East at 30 per cent, indicating the least optimistic outlooks. In terms of industry size, very large organisations display the most robust optimism in hiring, with a Net Employment Outlook of 44 per cent, followed by large organisations at 43 per cent and large enterprises at 40 per cent.

In the Asia Pacific region, India stands at 36 per cent and China at 32 per cent, continue to report the strongest outlooks, while the most cautious outlooks are observed from employers in Japan at 11 per cent and Taiwan at 12 per cent.