India’s Hiring Intent Outlook shows positive signs | Teamlease Report for Q4-2021-22

Hiring Intent Outlook: India’s job market outlook remains strong with positive hiring intent for the fourth quarter of 2021-22, said Team Lease In its latest Employment Outlook Report released recently.

However, the hiring intent outlook faces the risk of a revision if the growing Omicron threats in the country force any possible restrictions on economic activities.

Globally, the hiring intent outlook reflected the growing signs of the slow recovery seen in the recent months. The report said the region such as the Americas (+11%), APAC (+6%), Middle East (+4%), Europe (+3%), and Africa (+1%) showed an improved outlook for new hiring in the coming three months to March, the report said.

The Team Lease Employment outlook report is a quarterly publication that gives a comprehensive account of the trends in hiring, job growth, job creation, salaries and their drivers in 14 cities and 21 sectors in India. It is based on the data collected from 829 small, medium and large companies in these cities.

According to the report, the southern cities of Bangalore and Chennai lead in hiring intent for the January to March 2022 quarter.

While 88% of the employers in Bangalore have plans for more hiring in the coming quarter, 71% of Chennai employers have similar plans. In the previous quarter, this was 67% and 45% respectively.

Hiring Intent Outlook
Name of the CityQ4 21-22 (%)Q3 21-22 (%)
Bangalore8867
Chennai7145
Delhi6559
Hyderabad6553
Mumbai5941
Pune5546
Ahmedabad4839
Chandigarh4643
Gurgaon4335
Kolkata3730
Nagpur2021
Kochi1914
Coimbatore1517
Indore1115

Among the sectors, Information Technology and Education Services remained top with 89% and 80% companies announcing hiring plans in the March -2022 quarter. This compared with 69% and 64% respectively in the previous quarter.

Hiring Intent outlook: Companies Planning Hiring in Q4

Name of the company SectorNo. Of employees to hire
Comviva technologiesIT300
Larsen & Toubro Infotech (LTI)IT5500
CSS CorpIT3000
ZSIT1000
Byju’sEducational Services1000
Hero ViredEducational Services150
My Tuition AppEducational Services1500
HarappaEducational Services150
Skill-Lync Educational Services3000
MedCordsHealthcare10000
Innovaccer Healthcare150
Indegene Healthcare2500
AmazoneCommercethousands…
ANS Commerce eCommerce600
Skit eCommerce250
Urban Company eCommerceCampus Selection
Netcore CloudTelecommunication200
TredenceKnowledge Process Outsourcing1000
Tiger Analytics Knowledge Process Outsourcing750

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  • A slightly lower GDP forecast of 8.5% for 2022 has not impacted the optimism in the employment market across sectors.
  • The increased hiring intent followed the inconsistent growth rates by different sectors
  • Overall, the formal economy, operating within the legal framework performed better and spurted more demand
  • The technology sector remained confident promising hectic activity going forward on the back of sub segments such as IT and Knowledge Services sector, Ecommerce & Technology Start-ups.
  • IT hiring is looking strong as there is a huge global demand for technology services from India triggerring increased hiring intent in these sectors.
  • Large businesses also joined the trend benefiting from the health of high frequency indicators, and growth in credit availability

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