The June to September period of 2024 will witness strong hiring in India. As per the Manpower Group Employment Outlook Survey Q3, the Net Employment Outlook (NEO) shows 30 per cent points. This is, however, lower than Q4 of 2023. The strongest hiring intentions, of 36% are seen in North India, followed by 31 per cent points in West India and 30 per cent points down South. Lowest hiring intention of 21 per cent points is seen in eastern India.
Globally, India stands no. six in terms of employment outlook, eight points more than the global average. The survey covered 3,150 employers and revealed that maximum jobs will be created in the finance and real-estate industries followed by healthcare and life sciences.
Hiring optimism is the strongest amongst the large organisations with 1,000 to 4,999 employees. The NEO of these organisations is 42 per cent. The small organisations having 50 to 249 employees show an NEO of 34 per cent. Medium organisations with 250 to 999 employees also show NEO of 34 per cent.
Hiring intentions are strongest in the finance and real-estate sector with 39 per cent NEO, followed by healthcare and life sciences, with 36 per cent NEO.
When compared to the same period last year, there is an overall decrease across industry sizes with no change in the small industries.
The employment outlook is lowest in the communication services and transport, logistics and automotive space, with 17 per cent NEO.
Surprisingly, a significant 68 per cent employers intend to hire more people because they are adoping artificial intelligence (AI) and machine learning (ML) in the next two years. This intention is strongest in the communication services space, with 75 per cent employers in this space intending to increase headcount. Seventy-two per cent employers in the finance and real-estate sector, and 70 per cent each in the industrials and materials, and in the information technology sector intend to increase headcount.
