"Services, the key driver of India’s economic growth has been the dominant sector in India attracting significant foreign investment flows, contributing significantly to exports and therefore providing large-scale employment," a ManpowerGroup report said.
India’s hiring sentiments are going to be steady in the next three months, with Services and Wholesale & Retail Trade sectors expected to add maximum jobs, a report has said. Indian job seekers are likely to benefit from a steady third-quarter hiring pace, a 5,110-employer survey done by ManpowerGroup said. Strongest employment addition is expected in the Services and Wholesale & Retail Trade sectors with a growth rate of 20%, followed by the Public Admin and Education with a growth rate of 18%.
ManpowerGroup release employment forecast every quarter. In the July-August period, AG Rao, Group Managing Director of ManpowerGroup India said, “Services, the key driver of India’s economic growth has been the dominant sector in India attracting significant foreign investment flows, contributing significantly to exports and therefore providing large-scale employment.”
“Major trends that will drive recruitment in 2018 in India are diversity, automated recruitment, virtual reality, remote working options among other. The HR Industry is also trending towards a marketing approach to hiring to attract the right talent,” he added.
While these two sectors will show a robust growth, the Manufacturing and Finance, Insurance & Real Estate are also likely to post a modest growth of 14%. However, the outlook for the Transportation & Utilities sector declined by 2
percentage points. Globally, a majority of employers indicate that they will increase or maintain their workforce while a very few plan to downsize.
The report also points to a higher formalisation of employment in India. “New Government initiatives coupled with investors’ interest in start-ups is generating a growth trajectory in some sectors. Owing to the dynamics of a rapidly evolving business environment, contract staffing is taking precedence over the traditional workforce,” the report said.
“This is a direct consequence of the demand for greater flexibility. More employment opportunities are expected, facilitating the transition from informal to formal employment for those who are already in the labor market,” the report added.