Majority of Indian employers plans to add staff in first six months of FY25: Survey

The first half of fiscal 2025 will likely see a 6% workforce expansion across 23 industries, according to TeamLease’s Employment Outlook report. 

The report, compiled from inputs from 1,417 employers in 20 cities, indicates that about 56% of employers anticipate an increase in their workforce, while 23% expect to maintain current levels, and 21% predict a reduction.

Construction and real estate are poised to lead this growth with an 11.5% increase in manpower, followed by travel, e-commerce, tech startups, electric vehicle, and power and energy sectors, each expecting approximately 9% growth.

Meanwhile, fintech, fast-moving consumer goods, information technology, educational services, media, and BPOs are projected to expand their workforce by 1-5%.

Generative AI (GenAI) is expected to impact 35% of talent acquisition strategies, reflecting shifts in hiring practices due to technological advancements across key industries in the first half of fiscal 2025.

The survey also highlights the cities leading in job creation, with Delhi (53.21%), Bangalore (50.46%), and Hyderabad (47.57%) topping the list. Emerging job markets like Coimbatore, Visakhapatnam, and Jaipur are also seeing notable growth.

Supporting these optimistic hiring projections is India’s expected near 7% GDP growth in 2024, which could rank it as the fastest-growing G20 nation, according to global rating agencies. This economic surge is backed by strong investment demand and stabilising inflation rates, setting a resilient backdrop for the job market despite global uncertainties.

Kartik Narayan, CEO of TeamLease Staffing, said: “Nearly two out of five organisations are prioritising skills development, equipping their workforce for the technological advancements that lie ahead. The findings of our report shed light on the dynamic and optimistic hiring landscape.”

Employers are increasingly valuing skills such as communication, technical proficiency and organisational abilities. Approximately 43% of organisations are focusing on closing skill gaps, preparing for a future shaped by technological advances.