79% of surveyed employers foresee an expansion in their industry’s workforce over the upcoming six months to meet increasing demands. Both new hires (79%) and replacement hires (74%) are swiftly taking place, indicating a robust and active labour market.
In 2023, the job market faced significant challenges as major companies halted their hiring processes, while numerous businesses initiated widespread employee layoffs.
TeamLease Services, a company specialising in recruitment and human resources services, presented insights into India’s employment landscape for the latter half of the fiscal year 2023-2024 (October 2023 to March 2024) in a recent report. It highlighted a significant upward trend in workforce expansion, as 79% of employers expressed their intention to either maintain or increase their workforce during the second half of FY24.
Source: People Matters
