Majority of employers in services sector keen to hire in Q3: Report

A majority of employers in the services sector are keen to expand their workforce in the third quarter of this fiscal, according to a report.

Around 73 per cent of employers are eager to increase their resource pool this quarter, according to TeamLease Services 'Employment Outlook Report for Q3 (October to December 2022) for the services sector.

The 'TeamLease Employment Outlook Report' is based on a survey of 579 service companies in 14 cities across the country.

The report further stated that in the services segment, the key sectors expressing a higher intent are information technology (96 per cent), educational services (95 per cent), e-commerce and allied start-ups (92 per cent), telecommunications (90 per cent), retail (79 per cent), financial services (78 per cent) and logistics (75 per cent).

As the demand for services has increased post the pandemic, large firms (79 per cent), medium-sized firms (45 per cent) and small firms (57 per cent) have all mustered a strong hiring intent, the report said.

Organisations are largely hiring for IT, sales and engineering roles, it added.

"The resurgence in the services sector post-Covid has been strong. Companies have shown a lot of optimism to increase their workforce. The festive quarter has brought positive tidings, especially for freshers and entry-level talent.

"Close to 74 per cent of employers are enthusiastic to hire young talent and 69 per cent to hire junior talent. For mid and senior-level talent, hiring intent stood at a moderate 48 per cent and 34 per cent, respectively," TeamLease Services Chief Business Officer Mayur Taday said.

From a location perspective, metro and tier I cities (95 per cent) followed by tier II (75 per cent) lead in hiring intent, said the report.

However, tier III and rural geographies still stand low on hiring intent, indicating the trickle-down effect of post-pandemic services job creation is yet to gain significant traction.

The locations for services-focused job roles are Bangalore (97 per cent), Chennai (90 per cent), Delhi (86 per cent), Hyderabad (82 per cent), Mumbai (79 per cent), Pune (69 per cent) and Kolkata (55 per cent), it said.