Fri. Mar 29th, 2024
Source: Mint

With the festive season on hand, a recent survey conducted by ManpowerGroup revealed that a majority of employers are willing to hire more individuals, suggesting that the country is set to witness a striking rise in employment. With the easing pandemic restrictions, companies are looking into escalating their business, giving a much-awaited boost to hiring this third quarter.

The survey had over 3,000 companies participating, out of which 64 percent gave a nod to hiring more people. Compared to previous the survey where only 6 percent of the employers were interested, this is a major surge in numbers. This jump indicates that the hiring sentiment has gone up by around 40 percent this year, sharing an optimistic future for hiring. “This recovery is unlike any we have seen before with hiring intent picking up much faster than after the previous economic downturn,” said Jonas Prising, ManpowerGroup Chairman and CEO.

Out of the rest of the respondents, 20 percent wished to hire less and 15 percent of the employers are not thinking of any modifications to their workforce. The rest of one percent were not sure of their future hiring activity.

Even though hiring sees a potential graph of growth, a section of workers happens to be reluctant to get back to jobs owing to health and childcare concerns.

Nevertheless, this is the best employment outlook the nation has had in the past seven years. Adding over to the hiring activity, employers are also expected to provide better salary hikes in 2022, confirmed by another survey conducted recently by AON. The hike is expected to reflect across all sectors of the economy.

Some important factors which might have driven this change in momentum are increasing vaccine deployment and the upcoming festive season, said Sandeep Gulati, group managing director, ManpowerGroup. He further added that the market is witnessing an overall positive sentiment and the above-mentioned factors are boosting corporate initiatives. Recently, the Indian market has also started observing a significant growth in business activity, highlighting the requirement for more employees.

However, it would be too early to comment whether this positive shift is going to sustain in the later length of the future. With a possibility of a third Covid-19 wave dangling over the country, the situation may meander anytime accordingly.

 

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