Indian Companies Show the strongest hiring outlook globally – Report
At 36 percent, India reported the highest net employment outlook, followed by the US at 34 percent and China at 32 percent. The global average stood at 22 percent, while the weakest employment outlook was reported in Romania (- 2 percent). This is indeed a moment of pride for India.
Employers in India are still optimistic about hiring for the incoming June quarter, with 36% of businesses aiming to increase staffing levels over the next three months, as represented by the global employment outlook report.
India has the best outlook out of 42 countries worldwide, according to the most recent ManpowerGroup Employment Outlook Survey, which polled close to 3,150 companies. Fifty percent of employers predict higher payrolls for the April–June period, fourteen percent expect lower payrolls, thirty-three percent expect no change, and three percent are undecided. The net employment outlook that results is 38%.
As talent shortages reach 80%, ManpowerGroup said in a statement that “India tops the list of countries across the globe with a net employment outlook of 36%, despite organizations struggling to activate their hiring plans.” India’s net employment outlook is down 1% from the same period last quarter, but it has risen by 6% between April and June 2023.
The percentage of firms expecting hiring activity to grow is subtracted from the percentage of employers expecting hiring activity to decline to arrive at the net employment forecast.
India had the highest net employment projection, at 36%; the US came in second, at 34%, and China at 32%. The employment forecast for Romania was the worst, at -2 percent, while the global average was 22 percent.
“India should be proud of this period in its history. We have consistently shown our ability and capitalized on the demographic dividend. With the help of government efforts, the healthcare, life sciences, and renewable energy sectors are expanding quickly, according to Sandeep Gulati, Managing Director of ManpowerGroup’s India and Middle East division.
With the strongest hiring aspirations (44 percent), healthcare and life sciences continue to lead the market. Information technology (41 percent) and communication services (43 percent) are next in line. The energy and utility sectors have the worst forecast (20 percent).
“Medical tourism is also growing in popularity in India. We take pride in having the most FDA-approved production facilities outside the United States. There is no stopping India from progressing into the next orbit of growth and development with the ongoing strengthening of the educational infrastructure and a large pool of talent available,” Gulati stated.
With the strongest hiring aspirations (44 percent), healthcare and life sciences continue to lead the market. Information technology (41 percent) and communication services (43 percent) are next in line.
The energy and utility sectors have the worst forecast (20 percent). “Medical tourism is also growing in popularity in India. We take pride in having the most FDA-approved production facilities outside the United States.
“There is no stopping India from progressing into the next orbit of growth and development with the ongoing strengthening of the educational infrastructure and a large pool of talent available,” Gulati stated.
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