Staffing Forecast for July-September 2022: ManpowerGroup Survey

Employers in the field of information technology (IT) and technology show the strongest intention to hire in 11 sectors for the quarter July-September 2022, according to the latest study by ManpowerGroup Employment Outlook.

After the IT and technology sector is the sector of banking, finance, insurance and real estate with 60% of the prospects for employment. Overall, at 51 percent, the net employment outlook is at a record high of eight years, according to a quarterly survey by the global labor solutions company.

The net employment outlook for the third quarter of the calendar year 2022 includes 63 percent of employers who expect to increase their staff. Twelve percent expect a reduction in intent to hire, while 24 percent expect no change.

Compared to the same period last year, employment sentiment improved by an incredible 46 percentage points, while in the last quarter there was an increase of 13 percentage points.

According to a study by ManpowerGroup, the recruitment markets in India are ranked first in the region and third in the world, with 19 points above the regional average. India’s increase on an annual basis ranks first in the world, surpassing the average jump for 40 countries from the third quarter of 2021 by 28 points.

Geographically, employers in the northern, southern and western regions showed an equally strong pace, with a net employment outlook of 53 per cent, while the outlook for the east was 41 per cent.

At the beginning of the year, four new industries were added to the study, including primary manufacturing, IT and technology, non-profit and restaurants and hotels.

Of these, the employment forecast is the least optimistic in the primary production and non-profit sectors with prospects of 25% and 35%, respectively. The levels of vacancies are such that over 80 percent of the surveyed employers find it difficult to fill vacancies, with the greatest impact being felt in the construction sector – 85 percent.

In terms of skills, organizations face difficulties in finding talent for creativity and originality, critical thinking and analysis, reasoning and problem solving, leadership and social influence, and taking initiative.

According to ManpowerGroup India Managing Director Sandip Gulati, the positive intention to hire is despite rising inflation and geopolitical instability, even as sectors seek to accelerate the recovery process and sustain the country’s economic growth.

“However, we are facing an unprecedented difference in supply and demand, as indicated by our talent shortage study. Retraining and upgrading the workforce to bridge this gap must be a top priority for employers as well as for players in the industry like us. The growing need for digitalization, automation services and technology in our country, combined with the demand for Indian IT workforce around the world, will keep IT and the technology sector at the top of the Indian labor market rankings, “Gulati added.

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