Over 7 in 10 employers keen to hire in services sector in India

India is leading with the highest hiring intent in certain sectors despite the ongoing global inflation and layoffs in the IT-tech sector, and close to 77 per cent of employers are keen to increase their resource pool in the services sector in the period of January-March 2023, a report showed on Tuesday.

Overall, across services and manufacturing sectors, an average of 68 per cent of employers (65 per cent in FYQ3) have expressed a strong hiring sentiment, according to TeamLease Services, a leading people supply chain provider.

For candidates who are looking to secure job opportunities in the services segment, some of the key sectors leading the hiring spree are e-commerce (98 per cent), telecommunications (94 per cent), educational services (93 per cent), financial services (88 per cent), retail (85 per cent) and logistics (81 per cent).

The first three months of 2023 project a strong outlook, especially for fresh graduates and entry-level employees, with 79 per cent of employers willing to hire from this cohort.

Opportunities for mid-level and senior level are also performing balanced. Large enterprises, followed by small and medium, are all indicating robust employment progression, the report said.

"The ongoing global turmoil with mass layoffs, hiring freeze, and impending recession have significantly affected the services sector globally, especially the IT industry," said Mayur Taday, Chief Business Officer, TeamLease Services.

However, the sentiment in India continues to be on an upward trajectory.

"The government's push towards increasing monetisation ability, introducing FDI reforms, liberalising conventional satellite communication and remote sensing businesses to increase private sector participation has contributed to the employment growth," he added.

In Metro and tier 1 cities, the hiring intent for the services sector is at an exceptionally high level (99 per cent), the report said.

"With the 5G rollout, employers are already upskilling their current workforce for the upcoming 5G services. The upside of this activity has positively impacted educational, financial and knowledge outsourcing services," said Ajoy Thomas, VP and Business Head (retail, e-commerce, logistics and transportation), TeamLease Services.

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