49% Indian Companies Likely to Increase Workforce in First Quarter of 2022, Hiring Prospect at 8-year High: Survey

As the global job market recovers from the effect of the COVID-19 pandemic, the net hiring intent of employers is expected to record a sharp jump in the first quarter of 2022. For India, the situation looks more optimistic as the net hiring intent of employers in the country sits at an eight-year high. According to the findings of ManpowerGroup’s Employment Outlook Survey, 49 per cent of Indian companies expect to increase their workforce in the January-March quarter of 2022.

“The post-pandemic hiring recovery that has been underway for some time will continue to carry momentum into 2022 with employers predicting strong demand for talent across key sectors,” said Jonas Prising, ManpowerGroup Chairman & CEO. “

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The survey of over 39,000 employers across 40 countries conducted in October 2021, showed that India along with Peru and Netherlands was among the countries showing the strongest hiring prospects.

Employers in 36 of the 40 countries surveyed forecasted a stronger hiring intent than the previous quarter with greater demand for people working in the IT and the hospitality sector. The hospitality sector suffered the biggest casualty of the COVID-19 restriction as restaurants and hotels remained shut during the lockdown.

Globally, employers are now offering more flexibility to overcome the talent shortage. They are opting for a hybrid model as a pathway to even more flexible working in the longer term, the survey revealed.

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The demand for IT, communication, and media professionals were up by 50 per cent, followed by banking, finance, insurance, and real estate where demands for professionals recorded a 43 per cent jump. The demand for workforce in the hospitality sector showed a 40 per cent positive movement. The weakest hiring prospects were reported by employers in not-for-profit and primary production sectors where the intent was up by 26 and 29 per cent, respectively.

The report shows that organisations expect 51 per cent of roles with the finance sector and 29 per cent of the production workforce to work flexibly in 2022. This ranges from 100 per cent working from home setup for knowledge workers to schedule flexibility in manufacturing with shorter shift patterns.

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