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India reports the strongest outlook among 42 countries across the globe.
Employers in India anticipate a more or less stable hiring Outlook in Q2 with a Net Employment Outlook of +36% which has marginally decreased when compared to the last quarter.
The most optimistic outlooks are reported by employers in Healthcare and Life Sciences and Communication Services.
New Delhi, (March 12, 2024) – Employers in India continue to demonstrate optimism for the second quarter in a row. According to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey of nearly 3,150 employers, India tops the list of countries across the globe with a Net Employment Outlook of +36% despite organizations struggling to activate their hiring plans with talent shortages at 80%. When compared to last year, the trend is moving upwards by +6% and has a marginal dip (-1%) compared to the previous quarter.
“This is indeed a moment of pride for India. We have been consistent in demonstrating our capabilities and leveraging our demographic dividend. Industries in the Healthcare, Life Sciences and Renewable Energy are seeing rapid growth rate with the aide and support of Government initiatives.,” said ManpowerGroup’s India and Middle East Managing Director Sandeep Gulati. “India is becoming a popular destination for medical tourism as well. We boast of the most FDA approved production facilities globally, outside of US. With the further strengthening of the educational infrastructure underway and a large pool of talent availability, there is no stopping India from progressing into the next orbit of growth and development.”
EMPLOYMENT OUTLOOK SURVEY KEY FINDINGS
Overall, the strongest hiring intentions are among organizations in North of India (+40%) followed by West (35%), South (+33%) and East (+30%) reporting the least optimistic outlooks. All sectors have shown positive growth trajectory when compared to the same period last year.
Among the Industry size, very large organizations indicate strongest optimism in hiring with the Net Employment Outlook of 44% followed by large organizations (43%) and large enterprise (40%). When compared to the same period last year, there is an overall increase across Industry sizes, highest being in Micro Organizations (+15%) followed by Medium (+10%).
Sector-wise, Healthcare and Life Sciences continues to dominate the market with strongest hiring intentions (+44%), followed by Communication Services (+43%), and Information Technology (+41%). The weakest outlook is indicated in Energy and Utilities (+20%).
To view complete results for the Q2 ManpowerGroup Employment Outlook Survey, visit: Thought Leadership (manpowergroup.co.in). The next survey will be released in June and will report hiring expectations for the third quarter of the year.
