Hiring appetite continues in the second quarter of 2023 amidst layoffs: ManpowerGroup

• Employers in all four regions of India expect to grow payrolls during the second quarter of 2023.
  
• Sector-wise, IT continues to dominate the market with strongest hiring intentions, followed by financials and real estate.
  
• Nearly 80% of employers report difficulty finding the talent they need.

In the second quarter of 2023, hiring outlook in India remains more or less unchanged, says a report by Manpower group. However, the net employment outlook, at 30%, is 8% less than what it was in the same quarter last year.

Net employment outlook is calculated by subtracting employers not planning an increase or replacement versus those planning to hire.

There are more jobs in the West

Employers in all four regions expect to grow payrolls during the second quarter of 2023. West shows the most optimistic hiring pace with +34% followed by North where the Net Employment Outlook stands at +33%. When compared to the same period last year, the outlook has marginally increased by +2 in the West and reduced by +3% in the North.

Large organizations are more optimistic about hiring with the Net Employment Outlook of 40% followed by small organizations (26%) and medium sized organizations (25%). When compared to the same period last year, there is a decline across industry sizes, highest being in micro organizations (-13%) followed by medium (-10%).

Sector-wise, IT continues to dominate the market with strongest hiring intentions (+38%), followed by financials and real estate(+37%), and industrials & materials (+31%). The weakest outlook is indicated in communication services (+15%).

Talent shortage remains

Nearly four in five employers report difficulty finding the talent they need in 2023.

Employers in information technology (81%), consumer goods and services (81%), health care & life sciences (80%), financials and real estate (80%) and energy and utilities (80%) report the greatest difficulty finding the talent they need.

Organizations say that IT & data (37%), sales & marketing (30%) and engineering (29%) skills are among the most sought-after technical skills.

Employers are also looking for soft skills in their employees. Creativity & originality (37%), critical thinking & analysis (35%), leadership and social influence skills (32%), reasoning & problem-solving (30%), active learning & curiosity (30%) and reliability & self-discipline (29%) are the top-desired soft skills that are most in demand.

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