37% of Indian employers plan to increase their employee strength by 2024

According to a research, 37 percent of businesses in India aim to boost their staff numbers in response to strong domestic demand, making it one of the countries with the greatest hiring sentiments in the world over the next three months.

According to the most current ManpowerGroup Employment Outlook Survey, which surveyed almost 3,100 enterprises from a range of industries and geographic areas, India has the best Net Employment Outlook (NEO) out of 41 countries.

After deducting the percentage of firms who want to hire from those that foresee workforce cutbacks, the forecast for January–March 2024 remained at 37%, up 5% from the same time in 2023 and unchanged from the previous quarter.

Sandeep Gulati, Managing Director of ManpowerGroup India and the Middle East, states that “India’s economy is profitable due to the country’s strong domestic demand and ongoing inflow of private investments. Progressive India is no longer a pipe dream but a reality thanks to political stability.”

The poll found that the countries with the highest net employment outlooks were the Netherlands and India, at 37%, followed by the US and Costa Rica, at 35%, and Mexico, at 34%, for the third-place position. The average for the entire world was 26%.

The industries with the most optimistic business outlooks were finance and real estate, information technology, and consumer goods and services. The industries with the strongest outlooks were financials and real estate, at 45%, information technology at 44%, and consumer products and services at 42%.

According to the study, the industries with the least positive expectations for the first quarter were Energy & Utilities (28%).

With an outlook of 39%, the western area of India led the country in terms of job demand, followed by the north with 38%, and the eastern region with the lowest hiring intentions.

Employers reported having trouble filling unfilled positions; the largest effects were noticed in Japan, where 85% of employers said it was difficult to find suitable applicants, followed by Germany, Greece, and Israel (82%).

Employers in India reported having trouble finding qualified candidates at 81%, up 1% from the poll conducted in 2023. The industries most impacted were transportation, logistics, and automotive, followed by information technology.

“The survey is a reflection of the changing world of work where companies are in the transformational phase but IT talent with the desired skill sets are scarce,” Gulati stated.

According to the survey, firms are searching for new employees and increasing compensation in order to locate, attract, and recruit talent. They are also providing greater work flexibility.

IT & Data, Sales & Marketing, Engineering, Operations & Logistics, and HR are the top five most in-demand skills, it continued.

According to Gulati, “employee well-being, hiring for skilled roles, and embracing AI and technology seem to be the top 3 in the chart of priorities as organizations plan their strategic HR objectives for 2024.” He also mentioned that training employees to use AI and focusing on roles that can benefit from this advancement are still concerns.