Companies have cautious hiring outlook for next quarter: Manpower
India expect measured hiring rates over the next few months, according to Manpower Group’s employment outlook survey of 3,000 employees.
The study reported a 37% net employment outlook (calculated by subtracting employers planning reductions versus those planning to hire) for the upcoming quarter. It showed that 49% of the companies anticipated an increase in hiring, 12% did not expect to hire, 34% would maintain the status quo and 5% were unsure of the outlook.
This net hiring expectation in India was higher than the global average at 30%, and higher than the number in many countries.
In the Asia-Pacific region, India and Singapore had the most positive hiring outlook for the upcoming quarter. Within the country, the highest net employment rates were in northern India followed by western India.
In terms of sectors, the information technology sector — despite the news around layoffs, etc — continued to lead hiring expectations, said the analysis. This was followed by transport, logistics, automotive, healthcare, lifesciences, consumer goods and services industries.
Frontline job creation drops 17.5 per cent to over 6.6 million in FY23: report
In terms of hiring by companies of various sizes, large companies with 250+ employees led the net hiring outlook. This was followed by hiring intent from medium-size companies with 50-249 employees. However, on an actual growth basis, hiring by medium-sized companies did not see a noticeable difference in percentage shifts over the time period.
Analysing the nature of employment, the survey said over 66% reported looking at a hiring increase for permanent workers; 56% reported looking at hiring increase for temporary workers and 52% reported looking at an
