Flexi staffing industry adds 78,000 jobs in Jul-Sept

The Indian flexi staffing industry added 78,000 jobs in July-September 2022, up 6 per cent as compared to the previous quarter, on account of a rise in demand across all sectors, a report said.

"Buoyed by a strong festive season and rising demand across sectors, the Indian Staffing Federation (ISF) members added 78,000 new jobs in the July-September quarter, a 6 per cent rise in new jobs over the previous April-June quarter," said ISF's Flexi Staffing Employment Growth report.

The new jobs in July-September are a combination of new jobs in general staffing and IT staffing, it stated.

ISF is the apex industry body representing formal staffing, facility management and security services companies.

New jobs in general staffing - which excludes IT staffing - grew 7.3 per cent in July-September, driven by a rise in demand in FMCG, e-commerce, manufacturing, retail, logistics, banking, hospitality, tourism, insurance, and infrastructure, it stated.

On the other hand, new jobs in IT staffing remained under pressure, growing a modest 2.2 per cent in the September quarter.

While the IT staffing industry continues to address market demands in niche skills, there is a visible impact of the slowdown in global markets even as big Indian IT players curtail new hiring, it stated.

Cumulatively, ISF's over 110 member companies added 2.32 lakh jobs in the past four quarters, i.e. during the period from October 2022 to September 2023, which includes the 78,000 new jobs in July-September, it stated.

As on September 30, 2022, ISF member companies represented 14 lakh flexi staffing workers.

Lohit Bhatia, President, ISF said the Indian staffing industry anticipated a steep rise in demand during the first lockdown-free festive season, and provided the formal workforce with the different industries required.

"Overall industry shows a resilient growth with new employment mobilized in July-September (2022) at 20 per cent year-on-year...To give a further break-up, general staffing witnessed 24.6 per cent year-on-year growth, while new jobs in IT staffing sustained at 15.8 per cent year-on-year," Bhatia added.

Over 110 members of the federation have generated employment for 90 lakh employees in the last 10 years and currently employ 14 lakh flexi staff annually.

SEE ALSO:
KEC International bags new orders worth ₹1,313 crores
PE investments in real estate decline 17% in 2022 due to inflation, rising interest rates – Knight Frank India