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India aims to hire more people in July-September quarter: TeamLease

  • New hires are likely to be highest for entry and junior level positions in India.
  • Most jobs are likely to be created in Bangalore, Chennai, Mumbai, delhi and Hyderabad.
  • Large companies show the highest intention to hire, while small companies show the strongest growth in intention to hire.

India Inc. could hire more people in the second quarter than in the first. According to a TeamLease report, intent to hire — or the percentage of employers likely to hire employees — rose to 61% for the July-September quarter, from 54% in April-June 2022.

However, new hires are likely to be entry-level and junior-level positions, where hiring intent is highest. Hiring intent is gradually declining for mid-level jobs, bottoming out for management positions, according to TeamLease’s second quarter employment outlook report.

“India’s GDP for the fiscal year 2021-22 reached 8.7% after contracting by 6.6% in the previous fiscal year. This, and a host of public investment in programs PLIs (production-linked incentives) – in solar cell manufacturing and bulk drugs for example – are likely to boost job creation in the coming quarter,” the report said.

The Government of IndiaThe ₹2.65 lakh crore stimulus package to create jobs and provide cash support in tourism, aviation, construction and housing, also aims to bring incomes and jobs in these sectors back to levels of before the pandemic, the report added.

Hiring intent, however, was highest in the IT sector, followed by educational services, e-commerce and related startups, healthcare and pharmaceuticals, and telecommunications.

Most of these jobs are likely to be in the metros – Bangalore, Chennai, Mumbai, Delhi and Hyderabad, in that order. Pune, Ahmedabad and Kolkata have “moderate” intent, the report adds.

“The result is that rural areas and Tier 3 cities don’t have as much hiring intent as larger cities, and the slow increase suggests it could be a while before opportunities appear. grow more in these geographies,” the report said.

The survey was conducted in 14 Indian cities and 23 sectors, covering 865 small and medium enterprises as well as large enterprises.

According to TeamLease, the IT sector recorded the highest attrition rate of 22% from April to June 2022. E-commerce and allied startups came in second. Other sectors with a high attrition rate were electric vehicles, consumer packaged goods and the textile sector.

Hiring intent for engineering positions increased by 13%. The most requested position is marketing, which rose from 53% to 63% in the second quarter.

Large companies show the highest intention to hire, and small companies show the strongest growth in intention to hire. The survey also found that unicorns and “Soonicorns” (soon unicorns) had the highest hire intent, followed by companies in the “mature” category and startups.

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