New Delhi: India ranks sixth globally in terms of employment outlook for the September quarter 2024, with 30 per cent of businesses planning to increase their headcount in the next three months, according to a global survey by ManpowerGroup, a workforce solutions company. .
India's Net Employment Outlook (NEO), which is calculated by subtracting employers planning to cut from those planning to hire, is at 30 per cent. It weakened by 6 per cent compared to the previous quarter and the same period last year, as employers remained cautious in their hiring intentions for the next three months.
India ranks sixth globally in terms of its employment outlook, which is 8 points above the global average. This survey was conducted in 42 countries.Globally, Costa Rica reported the strongest hiring expectations in July-September with 35 percent, followed by Switzerland (34 percent), Guatemala (32 percent), Mexico (32 percent) and South Africa (31 percent). Stayed.
Argentina and Romania, on the other hand, reported the weakest NEOs with 3 percent each.
The country's outlook is the strongest in the Asia Pacific region. India (30 percent) and China (28 percent) continue to report the strongest outlook in the region. The most cautious approach was reported by employers in Hong Kong (8 percent) and Japan (12 percent).In the latest edition of the ManpowerGroup Employment Outlook Survey, 3,150 employers in India were asked about their hiring intentions in the third quarter.
"The global recession has been impacting the IT sector in India for quite some time. These circumstances also include the political uncertainty looming in the country due to the general elections during the data collection of this survey. Clearly, employers remain cautious in their short-term There are long-term resource plans,” said Sandeep Gulati, managing director, India and Middle East, ManpowerGroup.
However, the real estate sector has seen increased investor interest with capital inflows of US$1.1 billion led by the residential sector.Gulati said, “We hope to bridge the gap between demand and supply of specific skills with strategic long-term talent planning in corporates in India. Hire, train and deploy is one strategy that can make a difference in bridging this problem. Can bring."
Overall, North India's hiring intent stood at 36 percent, followed by West (31 percent), South (30 percent), and East (21 percent).
However, hiring sentiments declined across sectors compared to the same period last year.
By industry size, large organizations (with 1,000-4,999 employees) indicate the strongest optimism in hiring with NEOs at 42 percent, followed by small (50-249 employees) and medium (250-999 employees) organizations. (34 percent).Large enterprises (30 percent).
Sector-wise, financial and real estate sectors and healthcare and life sciences continue to dominate the market with the strongest hiring intentions. The survey said the weakest scenario is depicted in communication services and transportation, logistics and automotive.
More than 62 percent of employers have adopted AI, including Generative Conversational AI, with 80 percent of senior leadership teams optimistic about the positive impact of AI on the overall business, while 68 percent of frontline and factory employees are the opposite.
Contrary to popular belief, about 68 percent of employers are planning to increase headcount due to the adoption of AI and machine learning in the next 2 years, led by communication services sector, financial and real estate, industrial and materials and information technology.
India's Net Employment Outlook (NEO), which is calculated by subtracting employers planning to cut from those planning to hire, is at 30 per cent. It weakened by 6 per cent compared to the previous quarter and the same period last year, as employers remained cautious in their hiring intentions for the next three months.
India ranks sixth globally in terms of its employment outlook, which is 8 points above the global average. This survey was conducted in 42 countries.Globally, Costa Rica reported the strongest hiring expectations in July-September with 35 percent, followed by Switzerland (34 percent), Guatemala (32 percent), Mexico (32 percent) and South Africa (31 percent). Stayed.
Argentina and Romania, on the other hand, reported the weakest NEOs with 3 percent each.
The country's outlook is the strongest in the Asia Pacific region. India (30 percent) and China (28 percent) continue to report the strongest outlook in the region. The most cautious approach was reported by employers in Hong Kong (8 percent) and Japan (12 percent).In the latest edition of the ManpowerGroup Employment Outlook Survey, 3,150 employers in India were asked about their hiring intentions in the third quarter.
"The global recession has been impacting the IT sector in India for quite some time. These circumstances also include the political uncertainty looming in the country due to the general elections during the data collection of this survey. Clearly, employers remain cautious in their short-term There are long-term resource plans,” said Sandeep Gulati, managing director, India and Middle East, ManpowerGroup.
However, the real estate sector has seen increased investor interest with capital inflows of US$1.1 billion led by the residential sector.Gulati said, “We hope to bridge the gap between demand and supply of specific skills with strategic long-term talent planning in corporates in India. Hire, train and deploy is one strategy that can make a difference in bridging this problem. Can bring."
Overall, North India's hiring intent stood at 36 percent, followed by West (31 percent), South (30 percent), and East (21 percent).
However, hiring sentiments declined across sectors compared to the same period last year.
By industry size, large organizations (with 1,000-4,999 employees) indicate the strongest optimism in hiring with NEOs at 42 percent, followed by small (50-249 employees) and medium (250-999 employees) organizations. (34 percent).Large enterprises (30 percent).
Sector-wise, financial and real estate sectors and healthcare and life sciences continue to dominate the market with the strongest hiring intentions. The survey said the weakest scenario is depicted in communication services and transportation, logistics and automotive.
More than 62 percent of employers have adopted AI, including Generative Conversational AI, with 80 percent of senior leadership teams optimistic about the positive impact of AI on the overall business, while 68 percent of frontline and factory employees are the opposite.
Contrary to popular belief, about 68 percent of employers are planning to increase headcount due to the adoption of AI and machine learning in the next 2 years, led by communication services sector, financial and real estate, industrial and materials and information technology.
