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Hiring spree! 73% of employers in services sector intend to expand workforce

Hiring spree! 73% of employers in services sector intend to expand workforce

Demand saw an uptick after the pandemic with large firms (79 per cent), medium-sized firms (45 per cent) and small firms (57 per cent) mustering a strong hiring intent.

Hiring intent for Q3 picks up among many sectors Hiring intent for Q3 picks up among many sectors

As much as 73 per cent employers in the services sector are aiming to increase their resource pool this quarter, found a TeamLease. The company’s ‘Employment Outlook Report’ for the third – October to December – quarter stated that large, medium, and small-sized firms have all mustered a strong hiring intent. 

According to the report, there is a strong hiring intent in key sectors such as information technology (96 per cent), educational services (95 per cent), e-commerce and allied startups (92 per cent), telecommunications (90 per cent), retail (79 per cent), financial services (78 per cent), and logistics (75 per cent). 

Moreover, demand saw an uptick after the pandemic with large firms (79 per cent), medium-sized firms (45 per cent) and small firms (57 per cent) mustering a strong hiring intent. Most organisations are hiring for IT, sales and engineering roles. 

Metros and Tier I cities (95 per cent), followed by Tier II (75 per cent) lead in hiring intent, the report stated. Tier III and rural areas are still slow on hiring intent.

Bangalore (97 per cent), Chennai (90 per cent), Delhi (86 per cent), Hyderabad (82 per cent), Mumbai (79 per cent), Pune (69 per cent) and Kolkata (55 per cent) lead in service-focused jobs. Bangalore and Mumbai are the top choices for IT jobs while Delhi is the top pick for financial services and telecommunication. 

The TeamLease report stated that attrition stayed under control in the IT sector. It saw the highest level of attrition in Q2, followed by educational services and ecommerce and allied startups. 

Mayur Taday, Chief Business Officer, TeamLease Services, said, “The resurgence in the services sector post COVID has been strong. Companies have shown a lot of optimism to increase their workforce. The festive quarter has brought positive tidings especially for freshers and entry level talent. Close to 74 per cent of employers are enthusiastic to hire young talent and 69 per cent to hire junior talent. For mid and senior level talent, hiring intent stood at a moderate 48 per cent and 34 per cent respectively.” 

Ajoy Thomas, Vice President and Business Head (Retail, E-Commerce, Logistics and Transportation), TeamLease Services, said that the positive intent in these sectors are driven by the ongoing festive season, roll out of 5G technology, and a shift to digital learning. 

Also read: More jobs for freshers? Hiring intent has jumped threefold, says TeamLease

Also read: Hiring activity is slowing, but guess who is in demand? Gig-workers; here's why

Published on: Nov 03, 2022, 4:42 PM IST
Posted by: anwesha madhukalya, Nov 03, 2022, 4:33 PM IST