Corporate India Faces Mixed Hiring Prospects Amid Dynamic Market
Corporate India's hiring plans for the October-December quarter are experiencing a slight slowdown, with a 7% decrease in the employment outlook from the previous quarter. Despite this, India maintains a robust positioning globally. Companies focus on balancing workforce flexibility to navigate wage pressures and technological advancements.
- Country:
- India
A recent survey has highlighted a marginal decline in Corporate India's hiring plans for the last quarter of the year. The survey, conducted by ManpowerGroup, shows that the India Net Employment Outlook (NEO) stands at 40%, reflecting a 7% dip from the previous quarter, but an 18% rise from the same period last year.
Despite the slowdown, Indian employers report the second-highest hiring outlook globally, standing 17 points above the international average. With record GDP growth projections led by the services sector, firms remain cautious about expansion due to dwindling foreign investment sentiment while managing wage pressures and technological changes.
To stay adaptable, businesses increasingly rely on a blend of permanent, temporary, and consultant talent. Highlighting these trends, Sandeep Gulati, Managing Director of ManpowerGroup India, notes that adaptive workforce strategies are essential to maintain India's competitiveness. Meanwhile, regions like North India are seeing shifting hiring dynamics.
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