Hiring sentiment up 7 per cent, MSMEs lead the pack: TeamLease Services

Isha Rautela | | Updated on: Jul 06, 2022

Public investment in PLI schemes and the government’s Rs 2.65 lakh crore stimulus package are among the factors driving hiring sentiment, says TeamLease Services

The overall hiring sentiment in India has increased seven per cent to 61 per cent from 54 per cent in the previous quarter, according to the latest report by TeamLease Services, a human resource company.

Tier-2 cities have registered a seven per cent increase in intent to hire sentiment, from the previous quarter. The metros and Tier-1 cities follow with an increase of six per cent over the last quarter. Tier-3 cities registered an increase of 3 per cent to reach 37 per cent from 34 per cent in the last quarter. However, rural areas registered a nominal increase of two per cent.

“Overall, the ecosystem is taking a progressive turn, with more organisations projecting an intent to increase hiring. This optimism is largely influenced by increased public investment in PLI schemes, an advanced Rs 2.65 lakh crore stimulus package by the government to generate job opportunities and provide liquidity to sectors such as tourism, aviation and housing,” said Rituparna Chakraborty, Executive Director, Co-Founder, TeamLease.

The most promising cities in the manufacturing sector are Delhi with 72 per cent, followed by Mumbai (59 per cent) and Chennai (55 per cent). From a services sector perspective, the top cities are Bengaluru (97 per cent), Mumbai (81 per cent), and Delhi (68 per cent).

Based on business size, small companies have shown the highest increase in intent to hire at 47 per cent, up 6 per cent from the previous quarter, as compared to medium and large-sized businesses with 69 per cent, a four per cent increase from the previous quarter. Large companies have projected the highest intent to hire, and small businesses have shown the highest growth in the intent to hirer, said the release.

The TeamLease Employment Outlook Report is a forward-looking tool for human resource professionals, policy and decision-makers, and reflects hiring sentiment across 14 cities and 23 sectors in India.

Published on July 06, 2022
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