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Corporate <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> reported the strongest <keyword id="6357342" type="General" weightage="100" keywordseo="hiring" source="Orion">hiring</keyword> sentiments globally for the next three months, with 37 per cent of employers planning to increase their staff strength as businesses are bullish about the country's economic position, a survey said on Tuesday. According to the ManpowerGroup <keyword id="6355127" type="General" weightage="20" keywordseo="employment" source="Orion">Employment</keyword> <keyword id="20206852" type="General" weightage="20" keywordseo="outlook" source="keywords">Outlook</keyword> Survey Q4, 2024, of nearly 3,150 employers across sectors and regions, the <keyword id="20449001" type="General" weightage="20" keywordseo="net-employment-outlook" source="keywords">Net Employment Outlook</keyword> in India is the strongest worldwide at 37 per cent, followed by Costa Rica (36 per cent) and the US (34 per cent) in the second and third place respectively. The Net Employment Outlook (NEO) is calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire. The India employment outlook for Q4 (October-December) stood at 37 per cent, up 7 per cent from Q3 2024, and unchanged when compared with the same time last year. "The hiring intention of employers signifies the positive outlook in the country's economic position that has been reinforced by exports as a result of multilateral foreign policies and large-scale infrastructure development. Coupled with this, is our demographic advantage that is expected to boost our competitiveness in the global market," said <keyword id="20933727" type="General" weightage="20" keywordseo="sandeep-gulati" source="keywords">Sandeep Gulati</keyword>, Managing Director, <keyword id="20841782" type="General" weightage="20" keywordseo="manpowergroup-india" source="keywords">ManpowerGroup India</keyword> and Middle East. According to the survey, employers across all sectors report net positive hiring intentions with the financial and real estate industry having the strongest outlook of 47 per cent, followed by information technology (46 per cent), industrials and materials (36 per cent) and consumer goods and services (35 per cent). The least optimistic prospects were witnessed in the communication services (28 per cent). The survey further noted that the Northern region of India continues to dominate the job demand with an outlook of 41 per cent followed by the West (39 per cent). Gulati further noted that "India is expected to focus on its high domestic consumption, economy-booster government schemes, increasing demand for outsourcing services and manufacturing boom. "With increased focus on skill development to meet market demands, India may be able to reduce unemployment and fasten the pace of economic development by creating a more capable and adaptable workforce that meets the needs of the emerging industries." Hiring managers across the Asia-Pacific countries anticipate the second strongest regional Outlook at 27 per cent, an increase of 4 per cent from the previous quarter but decreased when compared to the same time last year. India, Singapore, and China continue to report the strongest employment outlooks in the region. The most cautious employment outlooks were reported by employers in Hong Kong (8 per cent). Survey responses were collected from July 1-31, 2024, and 40,340 employers across 42 countries were asked about their fourth-quarter hiring intentions.

Indian employers most bullish globally on Oct-Dec quarter hiring: survey

<ul><li>The <keyword id="6374576" type="General" weightage="20" keywordseo="it-industry" source="Orion">IT industry</keyword> (47%) consistently maintains the most positive outlook among businesses, indicating a strong hiring sentiment. </li><li><keyword id="22943" type="General" weightage="20" keywordseo="employers" source="Orion">Employers</keyword> in all four regions are optimistic about expanding their payrolls in the third quarter of 2023. </li><li>As many as 84% of employers said they are recruiting for green jobs or roles requiring green skills. </li></ul>Despite reports of layoffs, and a projected global economic slowdown, the job market is showing positive indicators in the third quarter of 2023 (July to September). In a ManpowerGroup survey of employers, almost half of them (49%) expect to increase their workforce, while 13% anticipate a decrease in hiring in the upcoming quarter. Around 34% do not foresee any changes in their staffing levels. Although there has been a decline of 15% in hiring sentiments compared to the same period last year, there is a notable growth of 6% as compared to the previous quarter. In the region, India ranks second in markets that intend to hire after Australia, and fifth globally. Interestingly, 84% of employers said they are recruiting for green jobs or roles requiring green skills. <cmsannotation type="cmsannotation" annotationid="subhead" text="Hiring by industries">Hiring by industries</cmsannotation> In the upcoming quarter, an increase in employment is projected across all eleven industry sectors. The IT, and <keyword id="535418" type="General" weightage="20" keywordseo="technology-sector" source="Orion">Technology sector</keyword> stands out with the highest hiring intentions, as employers in this sector report a net employment positive outlook of 47%. The finance, insurance, and real estate sector follow closely with a positive outlook of 41%, and the healthcare, and life sciences sector also shows strong hiring intentions with a 40% positive outlook. These industries demonstrate promising hiring prospects, and are expected to experience growth in their workforce. Says Sandeep Gulati, managing director, ManpowerGroup India, and Middle East, “India is one of the significant IT talent hubs for tech companies across the globe. Coupled with that, is the government’s continuous reinforcement in the semiconductor industry, both of which is fortifying the <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> as the dominant player for growth in the Indian job market.” <cmsannotation type="cmsannotation" annotationid="subhead" text="Hiring by region">Hiring by region</cmsannotation> Employers in all four regions are optimistic about expanding their payrolls in the third quarter of 2023. The West shows the most promising hiring pace, with a positive net employment outlook of 42%. Following closely, the North, and South regions have positive outlooks of 39%, and 33% respectively. The East also forecasts dynamic hiring activity with an outlook of 29%. However, it is worth noting that hiring prospects have weakened compared to the same period last year.

Hiring outlook to improve in the next quarter says ManpowerGroup

Corporate <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> is indicating cautious <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword> in the March quarter of 2023 as concerns rise over the possible <keyword id="6357558" type="General" weightage="20" keywordseo="recession" source="Orion">recession</keyword> and steady inflation, a survey said on Thursday. According to the ManpowerGroup Employment <keyword id="23268" type="General" weightage="100" keywordseo="outlook" source="Orion">Outlook</keyword> Survey, based on interviews with nearly 3,030 public and private employers, hiring intentions will decrease in the quarter both on a year-on-year and quarter-on-quarter basis. During the quarter, 48 per cent employers expect to increase their staffing levels, 16 per cent anticipate a decrease in hiring intent and 34 per cent do not anticipate any change in hiring, resulting in a net employment outlook of 32 per cent. When compared to the same period last year (January-March 2022), hiring sentiments have weakened by 17 percentage points and by 22 percentage points when compared to the previous quarter. "Employers are cautious due to the impending recession and deepening global slowdown which also created a stir in the IT sector during the previous quarter," Sandeep Gulati, Managing Director, <keyword id="12093048" type="General" weightage="50" keywordseo="manpowergroup-india" source="Orion">ManpowerGroup India</keyword> said. Citing reports, Gulati said 33 per cent of Indian CEOs have implemented a hiring freeze. "India may be impacted in the short term but in a country with the GDP net growth of 7 per cent, the market is expected to see a balanced approach with growth in the tech sector and startups," he said. "Consolidation of smaller startups dovetailing into the larger ones coupled with a measured approach to funding is expected to be the flavour driving the economy in 2023," he said, adding that "with India all set to host the G20 leaders' summit for the first time, we expect a lot to change in the employment-related scenario in the course of the year." As per the survey, hiring prospects have weakened in all four regions when compared with the previous quarter and the same time last year. Employers in all four regions expect to grow payrolls during the first quarter of 2023. North shows a strong hiring pace where the net employment outlook stood at 36 per cent followed by the West at 32 per cent while the outlook for the South and East was 29 per cent and 26 per cent, respectively. Digital roles will continue to drive most demand. Organizations in the IT industry and Finances and Real Estate report the most optimistic Outlook (39 per cent), followed by Consumer Goods and Services (37 per cent). "Skill gap continues to be a major constraint in the hiring intent and until it is addressed by corporates and educational institutes' combined efforts, growth in the employment rate will be in single digit," added Gulati. Globally, employers in 38 of 41 countries and territories anticipate a net positive hiring outlook. However, hiring confidence continues to drop across countries as concerns rise over the possible recession and steady inflation. Hiring managers across APAC (Asia Pacific) anticipate strong hiring sentiment with a net employment outlook of 25 per cent but slowing hiring intentions. Singapore with a net employment outlook of 33 per cent topped the list, followed by Australia (32 per cent), and India (32 per cent). Japan (8 per cent) and Taiwan (11 per cent) reported the most cautious employment outlook. "There's no denying that the headwinds that economists have been forecasting are beginning to impact labour markets," Jonas Prising, Chairman &amp; CEO of ManpowerGroup said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/salesforce-lays-off-over-7000-workers-as-it-hired-too-many-people-in-pandemic/articleshow/96752525.cms">Salesforce lays off over 7,000 workers as it hired 'too many people' in pandemic</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/japanese-startups-look-overseas-as-domestic-market-shrinks/articleshow/96756948.cms">Japanese startups look overseas as domestic market shrinks</a>

India Inc may go cautious on hiring as recession, slowdown looms: Manpower Employment Outlook

<ul><li>According to the <keyword id="4286856" type="PERSON" weightage="20" keywordseo="ManpowerGroup-Employment-Outlook-Survey">ManpowerGroup Employment Outlook Survey</keyword> 2020, merely 5% employers anticipate an increase in headcount — the weakest since the survey began 15 years ago.</li><li>The report reiterates the hiring decline reported by the job portal Naukri.com — by over 60% in May.</li><li>According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate stood at <a href="http://v/">24.3%</a> during the week ending May 24. </li></ul>As a jobs crisis looms with the layoffs, pay cuts and hiring freeze across industries, new job creation in India in the next one year is likely to be the worst ever. According to the ManpowerGroup Employment Outlook Survey 2020, employers expect a bleak <keyword id="969257" type="PERSON" weightage="20" keywordseo="Hiring-trend">hiring trend</keyword> in the next three months with merely 5% anticipating an increase in headcount — the weakest since the survey began 15 years ago. The report anticipates better hiring prospects and job opportunities in the North and South regions, as compared to western and eastern parts of India. The report shows a similar hiring trend analysed by the job portal Naukri.com. According to <a href="https://www.businessinsider.in/careers/news/hiring-activity-dips-61-in-may-in-india-naukri-com/articleshow/76275012.cms">Naukri’s report,</a> the hiring activity declined by over 60% in May. This accounts for 916 job postings in the last month compared to 2,346 during the same time period in 2019. And, the decline was majorly in metro cities like Kolkata, Delhi and Mumbai. Essentially, six months of the year have been lost, first to severe job losses and then to a tepid recovery. A lost year in creating job opportunities poses a grim picture for a country where millions of youngsters join the workforce every year. According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate stood at <a href="http://v">24.3%</a> during the week ending May 24. In fact, the urban unemployment rate went up to 27% in mid-May — higher than the rural unemployment rate. This means, <a href="https://www.cmie.com/kommon/bin/sr.php?kall=warticle&amp;dt=2020-05-19%2008:41:03&amp;msec=086">less than 25%</a> of the urban working age population is employed. <div type="image" title="cmienew" msid="76315069" hostid="261"></div> The april-June quarter was comparatively steady with nearly 12% employers expecting an increase in payrolls. While wholesale and retail trade are the two areas that were largely impacted due to the coronavirus lockdown, sectors like mining, construction, finance, insurance and real estate are looking up to stable hiring opportunities, going forward. The net employment outlook for the mining and construction sector stood at 12%, the <keyword id="9382178" type="UNKNOWN" weightage="20" keywordseo="manpowergroup-report">ManpowerGroup report</keyword> said. “Corporate India is rationalising its workforce in response to the economic slowdown. It is indeed a “wait and watch” game as organizations are gearing up for the post lockdown era where they anticipate an upsurge in demand. India is optimistic and the Government’s stimulus economy package may boost the economic activities across sectors,” said Sandeep Gulati, Group MD of ManpowerGroup India. Technology gets a boost Gulati believes that technology has significantly shaped the way people work, leading to increased adoption of digital technologies during the lockdown. “Technology has been the game changer during the Lockdown period with corporates moving to virtual meetings, conferences and even upskilling programs. The new normal is dynamic and ever evolving,” he said. Given that, companies are more likely to invest in digital skills. “Employees need to be up-skilled and reskilled during this lockdown period and be prepared for the changed workplace environment. The current disruption has reinforced the need for technical, digital and soft skills required to work both in the virtual and digital world and these are the skills hiring managers are seeking in employees,” Neeti Sharma, SVP, TeamLease Services <a href="https://www.businessinsider.in/careers/news/digital-skills-that-experts-believe-you-need-to-survive-the-current-job-crisis/articleshow/76167406.cms">told</a> Business Insider. See also: <a href="https://www.businessinsider.in/careers/news/capgemini-partners-with-coursera-to-reskill-employees-in-digital-technologies-and-25000-it-employees-have-already-enrolled/articleshow/76302825.cms">Capgemini partners with Coursera to reskill employees in digital technologies — and 25,000 IT employees have already enrolled</a> <a href="https://www.businessinsider.in/entertainment/news/ekta-kapoor-suggests-reducing-film-budget-by-atleast-30/articleshow/76304353.cms">Indian filmmakers should cut production cost by at least 30%, says Ekta Kapoor</a>

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Indian employers most bullish globally on Oct-Dec quarter hiring: survey

PTI

Hiring outlook to improve in the next quarter says ManpowerGroup

Anagh Pal

India Inc may go cautious on hiring as recession, slowdown looms: Manpower Employment Outlook

PTI

New job creation in India next three months is likely to be the worst ever⁠— and that could lead to a lost year

Prerna Sindwani

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