 "M&A, mergers & acquisitions, merger, partnerships, Joint venture, JV")
Propelled by robust post-pandemic recovery and multiple government initiatives, Bengaluru, Mumbai and Chennai have emerged as the cities with the highest hiring sentiment in the services and manufacturing sectors respectively, according to the TeamLease Employment Outlook Reports for Q4 FY2023.
Nearly 97 per cent of employers surveyed across the top two cities have shown increased hiring intent in their sectors, the report said.
“Surplus public investment in PLI schemes, the Indian Government's asset monetisation programme, increased private participation in key sectors, and revisions in FDI laws in defence and telecom sectors have fueled growth in companies across sectors, especially in tier-1 and tier-2 cities. Companies are therefore shoring up their talent pool to meet their increasing requirements. The positive hiring outlook will likely continue in the next quarter as well," said Kartik Narayan, Chief Executive Officer-Staffing, TeamLease Services.
Overall, while tier-1 cities led on hiring intent, Tier-2 cities saw close to 75 per cent employers across manufacturing and service sectors indicating positive sentiment. However, Tier-3 and rural areas lagged considerably on hiring intent, at 46 per cent and 24 per cent, respectively.
"India’s GDP vision and multiple domestic focused initiatives has provided the much needed impetus to the industry post the pandemic. This in turn has given a fillip to employment generation; improving the intent to hire across sectors, locations and industries. 60% employers in manufacturing and 77% in services, inclining to hire more, is a testament to the growing opportunities in the ecosystem," added Mayur Taday, Chief Business Officer, TeamLease Services.
Source: TeamLease Services
| Hiring Sentiment Acriss Top Cities in Manufacturing and Service Sectors (%) | |
| Services Sector: | |
| Cities | Hiring Intent Among Organizations (as a %) |
| Chennai | 94% |
| Delhi | 90% |
| Hyderabad | 86% |
| Mumbai | 85% |
| Manufacturing Sector: | |
| Cities | Hiring Intent Among Organizations (as a %) |
| Bengaluru | 94% |
| Chennai | 89% |
| Delhi | 84% |
| Pune | 73% |
| Hiring Sentiment in Tier 2 and Beyond cities in Manufacturing and Service Sectors (%) | |
| Services Sector: | |
| Region | Hiring Intent Among Organizations (as a %) |
| Tier 1 | 99% |
| Tier 2 | 77% |
| Tier 3 | 49% |
| Rural | 25% |
| Manufacturing Sector: | |
| Region | Hiring Intent Among Organizations (as a %) |
| Tier 1 | 94% |
| Tier 2 | 73% |
| Tier 3 | 43% |
| Rural | 23% |
| Industry-wise Hiring Sentiment in Manufacturing and Service Sectors (%) | |
| Services Sector: | |
| Industry | Hiring Intent Among Organizations (as a %) |
| E-commerce and Allied Start-ups | 98% |
| Telecommunications | 94% |
| Educational Services | 93% |
| Manufacturing Sector: | |
| Industry | Hiring Intent Among Organizations (as a %) |
| Healthcare and Pharmaceuticals | 98% |
| FMCG | 86% |
| EV and Infrastructure | 71% |
| Hiring Sentiment Among Functions in Manufacturing and Serivce Sectors (%) | |
| Services Sector: | |
| Functions | Hiring Intent Among Organizations (as a %) |
| Sales | 91% |
| Enginerring | 80% |
| Marketing | 60% |
| Manufacturing Sector: | |
| Functions | Hiring Intent Among Organizations (as a %) |
| Sales | 98% |
| Marketing | 86% |
| Engineering | 78% |
Source: TeamLease Services
