December 21, 2022
1 min read

India’s service sector hiring bucks global tend

The first three months of 2023 projects a strong outlook, especially for fresh graduates and entry-level employees, with 79 per cent employers willing to hire from this cohort…Reports Asian Lite News

India is leading with the highest hiring intent in certain sectors despite the ongoing global inflation and layoffs in the IT-tech sector, and close to 77 per cent employers are keen to increase their resource pool in the services sector in the period of January-March 2023, a report showed on Tuesday.

Overall, across services and manufacturing sectors, an average of 68 per cent employers (65 per cent in FYQ3) have expressed a strong hiring sentiment, according to TeamLease Services, a leading people supply chain provider.

For candidates who are looking to secure job opportunities in the services segment, some of the key sectors leading the hiring spree are e-commerce (98 per cent), telecommunications (94 per cent), educational services (93 per cent), financial services (88 per cent), retail (85 per cent) and logistics (81 per cent).

The first three months of 2023 projects a strong outlook, especially for fresh graduates and entry-level employees, with 79 per cent employers willing to hire from this cohort.

Opportunities for mid-level and senior level are also performing balanced. Large enterprises, followed by small and medium, are all indicating robust employment progression, the report said.

“The ongoing global turmoil with mass layoffs, hiring freeze, and impending recession has significantly affected the services sector globally, especially the IT industry,” said Mayur Taday, Chief Business Officer, TeamLease Services.

However, the sentiment in India continues to be on an upward trajectory.

“The government’s push towards increasing monetisation ability, introducing FDI reforms, liberalising conventional satellite communication and remote sensing businesses to increase private sector participation has contributed to the employment growth,” he added.

In Metro and tier 1 cities, the hiring intent for the services sector is at an exceptionally high level (99 per cent), the report said.

“With the 5G rollout, employers are already upskilling their current workforce for the upcoming 5G services. The upside of this activity has positively impacted educational, financial and knowledge outsourcing services,” said Ajoy Thomas, VP and Business Head (retail, e-commerce, logistics and transportation), TeamLease Services.

ALSO READ: Airtel acquires strategic stake in Lemnisk

Previous Story

63 moons wins ‘Asia’s Most Trusted Company’ award

Next Story

Finland cuts GDP growth forecasts for 2023, signalling recession

Latest from Business

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite News Microsoft is set to cut around 9,000 jobs —

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy, Pralhad Joshi, asserting that the country is empowering the Global

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units and marking a new milestone that highlights the company’s expanding

India Bats for Fairer Global Finance: FM Sitharaman

FM Sitharaman stated that we believe that optimal regulation fosters innovation and stability….reports Asian Lite News India supports reforms to the international financial architecture to enhance inclusivity and equity, including Multilateral Development
Go toTop

Don't Miss

SC seeks response from Ola in predatory pricing case

Meru Cabs had approached the top court challenging the order

Stay Connected with India, Prez Murmu Urges Mauritian youth

Murmu expressed optimism that the youth in both countries will