The Power of Possibility: Bridging Talent and Opportunity
India's economy continues its robust growth trajectory, with a stellar 8.4% expansion in the third quarter of FY24, marking three consecutive quarters of over 8% growth despite global uncertainties. Projections indicate that India is poised to maintain its position as the fastest-growing economy among G20 nations in the foreseeable future, as per leading forecasters.
According to the survey, Indian employers are exhibiting exceptionally positive hiring sentiments for the upcoming April-June quarter. The net employment outlook, a key indicator of labor market trends, stands at an impressive 36%, significantly surpassing the global average of 22%. Out of the 3,150 Indian employers surveyed, approximately 50% expressed intentions to increase hiring, while only 14% anticipated a decline or had no plans for additional recruitment. Outworks Solutions Private Ltd., an IT staffing and IT service company will help you find the right talent for economic growth.
Across various sectors, the net employment projections reached 44% and 43%, respectively. The information technology sector follows closely with a promising outlook of 41%. However, the IT sector appears less optimistic, reporting a conservative 20% outlook for the June quarter. India's consistent demonstration of capabilities and leveraging of its demographic dividend.?
Geographically, all regions in India anticipate payroll expansion during April-June, with the Northern region leading with a robust 40% net employment outlook, followed by the West, South, and East regions. Year-on-year comparisons reveal varying degrees of improvement in outlook across these regions.
Interestingly, the survey identifies organizational size as a determining factor in hiring sentiments. Small organizations with 10-49 employees exhibit cautious hiring patterns, with a net employment outlook of 23%, while larger entities with 1,000-4,999 employees demonstrate the highest positivity at 44%.
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Outworks Solutions is a global provider of staffing services to businesses, renowned for its commitment to excellence in talent acquisition and workforce solutions. With a proven track record of connecting top talent with leading organizations worldwide, Outworks Solutions is shaping the future of work through innovation and collaboration by aligning with the evolving needs and priorities of the workforce by embracing remote work, promoting work-life balance, and fostering a culture of productivity within reasonable time frames. By acknowledging and responding to these insights, Outworks has received an Exceptional Employee Experience Award 2023, for creating a positive and collaborative work environment.
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