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Indian Employer’s Hiring Sentiments strongest globally: ManpowerGroup Employment Outlook Survey Q4, 2024
Final ManpowerGroup Employer Outlook Survey of 2024 finds Net Employment Outlook in India being the strongest worldwide with significant improvement of +7% when compared to the same time last quarter.
The Financials and Real Estate sector has the brightest Outlook, closely followed by Information Technology.
Talent Shortage continues to widen the demand supply gap in India Inc.
NEW DELHI, INDIA (September 10, 2024) – Employers anticipate closing out 2024 with enthusiasm as the festival season begins, according to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey of nearly 3150 employers across sectors and region. The research is based on survey responses fielded July 1- 31, 2024. The Net Employment Outlook (NEO) for Q4 is +37%, up +7% from Q3 2024, and unchanged when compared with the same time last year.
“The hiring intention of employers signifies the positive outlook in the country’s economic position that has been reinforced by exports as a result of multi-lateral foreign policies and large-scale infrastructure development. Coupled with this, is our demographic advantage that is expected to boost our competitiveness in the global market,” said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East. “The Consumer Confidence Index (CCI) and Business Assessment Index (BAI) are moving upwards indicating confidence in the future of the economy.”
Mr. Gulati further stated, “India is expected to focus on its high domestic consumption, economy-booster government schemes, increasing demand for outsourcing services and manufacturing boom. With increased focus on skill development to meet market demands, India may be able to reduce unemployment and fasten the pace of economic development by creating more capable and adaptable workforce that meets the need of the emerging industries.”
KEY FINDINGS FROM THE Q4 SURVEY
Employers across all sectors report net positive hiring intentions with Financial and Real Estate Industry having the strongest outlook of +47% followed by Information Technology (+46%), Industrials and Materials (36%) and Consumer Goods and Services (+35%). The least optimistic prospects were witnessed in the Communication Services (+28%). When compared to the same period last quarter, besides Healthcare and Life Sciences (-6%), all other sectors have shown a positive uptick.
Northern region of India continues to dominate the job demand with an outlook of +41% followed by West (+39%).
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Rotostat, Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2024 ManpowerGroup was named one of the World’s Most Ethical Companies for the 15th time – all confirming our position as the brand of choice for in-demand talent.
