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.
|Name of the City||Q4 21-22 (%)||Q3 21-22 (%)|
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||Sector||No. Of employees to hire|
|Larsen & Toubro Infotech (LTI)||IT||5500|
|Hero Vired||Educational Services||150|
|My Tuition App||Educational Services||1500|
|Urban Company||eCommerce||Campus Selection|
|Tredence||Knowledge Process Outsourcing||1000|
|Tiger Analytics||Knowledge Process Outsourcing||750|
Hiring Intent Outlook Report Highlights in trends
- 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
You would like: