Size doesn’t matter – small cos will hire more than midsized cos this quarter

• Hiring in smaller companies is set to rise by at least 4% this quarter as compared to previous one.
• It will be hiring more than medium sized companies, as per a TeamLease report.
• “Ecosystem is taking a progressive turn, with more organizations projecting the intent to increase their hiring,” said Rituparna Chakraborty.

In the coming months, small companies intend to hire more people than medium sized businesses according to a TeamLease report.

Hiring intent in small companies is set to increase by at least 4% this quarter as compared to the previous quarter, says the TeamLease Employment Outlook. However, in percentage terms, large companies could hire the most.

The hiring intent right in large companies is projected to touch 69%, while in medium sized companies it could be 40% and in small companies it may reach 47%, as per the report’s data.

As the country tumbles back to normalcy after the pandemic, hiring intent is picking up its pace – and increasing every quarter. The overall hiring intent is projected to be up by 7% — from 54% in the last quarter to 61% in the upcoming quarter.

Rituparna Chakraborty, executive director and co-founder at TeamLease says that the ecosystem is taking a progressive turn, with more organizations projecting an intent to increase hiring.

“This optimism is largely influenced by increased public investment in PLI schemes, an advanced ₹2.65 lakh crore stimulus package by the government to generate job opportunities and provide liquidity to sectors like tourism, aviation and housing. With these factors, an increase in hiring sentiment is not only imminent but over the next few quarters, it is likely to cross the 70% mark as well” said Chakraborty.

Tier-2 cities are on a hiring spree

A lot of market leaders have been vocal about their intent to tap into the tier 2 and 3 cities as a large chunk of the talent pool comes from these cities. Tech Mahindra, Infosys, Wipro, L&T are some such companies.

The report further suggests that jobs in tier 2 cities may witness the highest increase — reaching to 62% — as compared to metro and tier 1 cities. This percentage is likely to increase by 7% this quarter.

Tier 3 cities also may show a 3% rise from 34% to 37%, as per the report.

Employees living in the metro cities have expressed concerns about increased cost of living. According to a report by Nasscom and Boston Consulting Group, 65% of the employees in India want to shift to tier-2 or tier-3 cities.

Engineering, and marketing jobs can increase dramatically in the forthcoming quarter. The hiring intent for engineering roles may see a staggering 13-70%. For marketing roles, a rise of substantial 10% is likely.

Sales and information technology roles are also expected to grow by at least 8%.

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