73% employers looking to increase their resource pool: TeamLease | The Financial Express

73% employers looking to increase their resource pool: TeamLease

The key segments that will add talent include information technology, educational services, e-commerce and allied start-ups, telecommunications, retail, financial services and logistics.

73% employers looking to increase their resource pool: TeamLease
Metropolitan and tier-1 cities will hire the maximum talent with 95% employers expressing the intent, followed by tier II with 75% lead in hiring intent.

Hiring outlook for the services sector in India will remain healthy in the October-December 2022 quarter, with 73% of employers looking to increase their resource pool, according to ‘Employment Outlook Report’ for Q3 by TeamLease Services.

The key segments that will add talent include information technology, educational services, e-commerce and allied start-ups, telecommunications, retail, financial services and logistics.

The intent to hire is the highest at IT firms at 96%, followed by educational services at 95%, e-commerce and allied start-ups at 92%, telecommunications at 90%, retail at 79%, financial services at 78% and logistics at 75%.

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With the demand for services increasing post the pandemic; hiring intent is back across large, small and medium-sized firms with organisations largely hiring for IT, sales, and engineering roles, the report said.

“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% of employers are enthusiastic to hire young talent and 69% to hire junior talent. For mid and senior-level talent, hiring intent stood at a moderate 48% and 34%, respectively,” said Mayur Taday, chief business officer, TeamLease Services.

Festive season has been the major driver for growth in hiring in e-commerce, retail and logistics, roll out of 5G technology for telecom and IT and the shift to digital learning for start-ups and educational services.

Metropolitan and tier-1 cities will hire the maximum talent with 95% employers expressing the intent, followed by tier II with 75% lead in hiring intent. 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 report said.

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Bengaluru will see maximum hiring, followed by Chennai, Delhi, Hyderabad, Mumbai, Pune and Kolkata. For the IT industry, the top location continues to be Bengaluru, Mumbai for financial services and telecommunication in Delhi.

Further, according to the report, attrition stayed under control in the sector. In the September quarter, IT faced the highest level of attrition at 25.23%, followed by educational services at 15.24% and e-commerce & allied start-ups at 14.02%.

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First published on: 04-11-2022 at 02:15 IST