Information Technology (IT) and technology employers are showing the strongest intention to hire in 11 sectors in the July-September 2022 quarter, according to the latest ManpowerGroup Employment Outlook Survey.
Behind the IT and technology sector is the Banking, Finance, Insurance and Real Estate sector, which accounts for 60% of procurement forecasts. Overall, at 51 per cent, the net employment outlook is on record for eight years, according to a quarterly survey of the global employee solution company.
The net employment forecast for the third quarter of the calendar year 2022 includes 63 per cent of employers who expect an increase in the level of employment. 12% anticipated a reduction in hiring intentions, and 24% did not anticipate any changes.
Compared to the same period last year, the hiring sentiment improved by 46 percentage points, with a 13 percentage point increase in the last quarter.
According to the ManpowerGroup Survey, India’s procurement markets rank first in the region and third in the world, 19 points above the regional average. India’s year-on-year growth is the world’s number one, surpassing the 40-year average of 40 countries in the 2021 quarter by 28 points.
Geographically, employers in the northern, southern and western regions had the same pace, with a net employment forecast of 53 per cent, while in the east it was 41 per cent.
Earlier this year, four new industries were surveyed, including primary production, IT and technology, nonprofits and restaurants and hotels.
Of these, the recruitment forecast was the least optimistic in the primary production and non-profit sectors, with forecasts of 25 and 35 per cent, respectively. Such have been vacancies, where more than 80 per cent of employers surveyed find it difficult to fill open positions and the biggest impact on the construction sector is noticeable at 85 per cent.
In terms of skills, organizations have difficulty finding talent such as creativity and originality, critical thinking and analysis, reasoning and problem solving, leadership and social influence, and taking initiative.
According to Sandeep Gulati, Managing Director of ManpowerGroup India, the positive hiring outlook is despite rising inflation and geopolitical instability, as the sector seeks to accelerate the recovery process and sustain the country’s economic growth.
“However, we are facing an unprecedented supply gap, as evidenced by our talent shortage survey. services will keep the IT and technology sector in India in line with the worldwide demand for IT in the labor market in India, ”added Gula.