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India's BFSI sector is set for robust growth, with hiring projected to rise 8.7 per cent in 2025-26 and touch 10 per cent by 2030, creating nearly 2.5 lakh permanent jobs, a report said on Thursday. This growth in the Banking, Financial Services, and Insurance (BFSI) sector is being driven by rising demand in tier II and III cities, marking a clear shift from metro-centric recruitment. "The heartland of India is emerging as a powerful engine of talent demand in the BFSI sector, with nearly 48 per cent of new roles now originating from tier II and III cities," workforce solutions provider Adecco India said in a report. The first half of FY25 saw a 27 per cent increase in hiring activity compared to the corresponding period of the previous year, signalling strong momentum across frontline, digital, and compliance functions, according to the report. Candidates with local language proficiency and grassroots sales experience are now 2.5 times more likely to be shortlisted and command 10
Geopolitical tensions, including wars in the Middle East, have impacted the Indian workplace with 63 per cent of respondents confirming that their companies are either freezing hiring or downsizing teams, claims a report. Over 63 per cent of respondents said their companies are either freezing hiring or downsizing teams with another 15 per cent noting a visible shift toward contract-based or freelance roles as the geopolitical tension escalates, the report by staffing solutions and HR services provider Genius Consultants has claimed. The report is based on an online survey among 2,006 employees from across sectors in the country during May 12 to June 6. Further, the report revealed that 36 per cent of the employees interviewed stated that their salary growth, bonuses, or appraisals are affected in light of geopolitical instability. Over 21 per cent said there is an increase in workload pressure and project timelines while 22 per cent reported that international business exposure or
India's job market is witnessing high mobility with a significant percentage of professionals actively seeking new roles, many are now negotiating for better pay within their current organisations, says a survey. The latest Talent Trends India 2025 report by Michael Page reveals that 62 per cent of professionals have negotiated a raise this year, and 37 per cent succeeded -- signalling a shift toward internal advancement. The rate of successful salary increases has risen from 32 per cent last year to 37 per cent this year. The report is based on insights from nearly 3,000 professionals across the country. According to the report, professionals are increasingly prioritising purpose, ethics, and flexibility in an organisation. "Today's workforce is increasingly values-driven and future-focused. Job satisfaction alone is no longer enough to ensure loyalty -- professionals are continuously evaluating their growth trajectory, alignment with company values, and the flexibility offered," .
Unemployment rate for persons aged 15 years and above has remained unchanged at 3.2 per cent in July 2023 to June 2024, according to the labour force survey annual report released on Monday. The unemployment rate (UR) is defined as the percentage of persons unemployed among the persons in the labour force. The report stated that while the UR for male has shown a marginal decline from 3.3 per cent during July 2022 June 2023 to 3.2 per per cent during July 2023 June 2024, among female it has increased from 2.9 per cent to 3.2 per cent during the same time span. Labour Force Participation Rate (LFPR) in usual status for persons of age 15 years and above was 60.1 per cent during July 2023 - June 2024 higher than 57.9 per cent in the previous year. The same for male and female was 78.8 per cent and 41.7 per cent, respectively. LFPR is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population. LFPR for female of age 15 year