Over 54% of India Inc keen on hiring in Q1FY23: TeamLease report

The hiring outlook for April-June 2022 quarter is up by four percentage points on a quarter-on-quarter basis, says TeamLease Employment Outlook Report

Led by information technology (IT), educational services, e-commerce and healthcare & pharma sectors, the April-June quarter has seen robust hiring sentiments with over 54 per cent employers expressing their intent to hire.

The hiring outlook for April-June 2022 quarter is up by four percentage points on a quarter-on-quarter (QoQ) basis from the previous January-March 2022 quarter according to the latest edition of TeamLease Services' quarterly 'Employment Outlook Report'.

Out of the 21 sectors reviewed, overall 16 indicated keenness to hire, led by IT with 95 per cent of employers keen to hire, followed by educational services (86 per cent), E-commerce and technology start-ups (81 per cent) and healthcare and pharmaceuticals (78 per cent).

On the other hand, among the laggard sectors are agriculture & agrochemicals, BPO / ITeS, fast moving consumer durables and non-essential retail.

In terms of geographies, while the hiring intent in the metro and tier 1 cities has grown from 73 per cent in the previous quarter to 83 per cent in the current quarter, tier-2 cities are not far behind, the report found. The hiring intent in tier-2 cities will see a rise from 48 per cent to 55 per cent in the period April to June 2022. Amongst cities, Bangalore (91 per cent) and Chennai (78 per cent) will continue to lead cities in hiring outlook.

The TeamLease employment outlook report also found that the entry level talent category would see a 10 per cent Q-o-Q growth in hiring intent while sales (82 per cent) and IT (75 per cent) were roles and functions that would lead hiring.

Meanwhile, commenting on the findings, Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services, said that the back to office culture and normalcy coupled with income growth projections as well as the superior export performance was fuelling a growth in demand for talent across all the sectors. "While the overall growth in intent may be moderate, more than 14 per cent of the sectors have indicated a double digit growth indicating that the modest approach will soon taper off and the appetite to scale up manpower will grow significantly," said Chakraborty.