India Inc's hiring outlook stays positive for Sept quarter
Bengaluru: Corporate India's hiring intentions for the quarter to September are the second highest among 42 countries covered in the latest
ManpowerGroup Employment Outlook Survey
, a finding that - despite a slight moderation since last quarter - experts attributed to the underlying growth momentum in the country amid global geopolitical and economic upheavals.
Hiring intentions among Indian employers, second only to those in the United Arab Emirates, are 18 percentage points higher than the global average of 24%, up 12 percentage points year-on-year and down one percentage point from the previous quarter, according to the report shared exclusively with ET.
About 54% of the 3,146 Indian employers surveyed said they planned to increase hiring in the July-September period, 12% said they expected a decrease in staffing levels, 32% said they would maintain current staffing levels and 2% were unsure. This put the net employment outlook, used as a bellwether of labour market trends, at 42% - the difference between companies hiring and those expecting a fall.
Global trade uncertainty is shaping hiring decisions for nearly nine in 10 companies, according to the report.
About 44% of Indian employers who plan to hire reported that their company was expanding in size, creating more positions.
Overall hiring momentum is driven by strong growth in the private services sector and expectations of economic benefits stemming from shifts in global trade dynamics, especially in relation to China, said the report.
"Despite a slight dip from the previous quarter, the 12-point year-on-year gain highlights sustained employer confidence and growth momentum in the labour market," said Sandeep Gulati, managing director, ManpowerGroup India and Middle East. "This optimism is driven by strong hiring intent in sectors such as information technology, energy & utilities, and financial services, where companies are actively expanding and accelerating digital transformation." He further said, "We are seeing a clear shift from volume hiring to building agile, digitally skilled teams."
Employers in the energy & utilities sector (50%), followed by IT (46%), have the strongest hiring intentions, the survey found. The industrials and materials sector has a net employment outlook of 45%, while for financials and real estate, the outlook stands at 43%.
Experts, however, cautioned that India would also feel the heat of global disruptions.
"There are some signs of a turnaround in formal sector job creation. However, India, despite being the fastest growing large economy, is not immune to global uncertainties" said Teresa John, economist and deputy head of research at equity research firm Nirmal Bang Institutional Equities.
Several global capability centres in sectors such as pharmaceuticals, healthcare and aerospace are going slow on establishment and expansion plans, she said.
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