India’s year-on-year increase is ranked first globally, outperforming the 40-country average spike since Q3 2021 by 28-points.
Geographically, employers in the northern, southern and western regions showed equally strong pace, with a net employment outlook of 53 per cent, whereas the outlook for east was 41 per cent.
The beginning of the year had seen four new industries, including primary production, IT and technology, not-for-profit and restaurants & hotels being added in the survey.
Of these, the hiring forecast was least optimistic in the primary production and not-for-profit sectors with an outlook of 25 per cent and 35 per cent, respectively. Twelve per cent anticipated a decrease in hiring intent while 24 per cent did not anticipate any change.
When compared to the same period last year, hiring sentiment has improved by a staggering 46 percentage points while there is a 13-percentage-point growth over the last quarter.
According to the ManpowerGroup Survey, hiring markets in India are ranked first in the region and third globally, 19 points above the regional average. reskilling and upskilling the workforce to mitigate this gap should be the highest priority for employers as well as industry players like us. Overall, at 51 per cent, the net employment outlook is at a record high in eight years, the global workforce solutions company's quarterly survey shows.
The net employment outlook for the third quarter of the calendar year 2022 includes 63 per cent of employers expecting to increase their staffing levels. Information Technology (IT) and technology employers are exhibiting the strongest hiring intent across 11 sectors for the July-September 2022 quarter, according to the latest ManpowerGroup Employment Outlook Survey.
Following the IT and technology sector is the Banking, Finance, Insurance and Real Estate sector at 60 per cent of hiring outlook. Such has been the vacancy levels, that over 80 per cent of employers surveyed are finding it difficult to fill open positions with the biggest impact being felt in the construction sector at 85 per cent.
In terms of skills, organizations are facing difficulty finding talent for the likes of creativity and originality, critical thinking and analysis, reasoning and problem solving, leadership and social influence and Initiative taking.
According to ManpowerGroup India managing director Sandeep Gulati, the positive hiring intent is despite rising inflation and the geopolitical instability even as sectors look to speed up the recovery process and sustain the economic growth of the country.
"We are, however, faced with an unprecedented demand supply gap as indicated by our talent shortage survey. Growing need for digitization, automation and tech enabled services in our country coupled with demand for Indian IT workforce across the globe will retain the IT and technology sector on top of the charts in the Indian job market," Gulati added.
Humans have been storing, retrieving, manipulating, and communicating information since the Sumerians in Mesopotamia developed writing in about 3000 BC.[3] However, the term information technology in its modern sense first appeared in a 1958 article published in the Harvard Business Review; authors Harold J. Whisler commented that "the new technology does not yet have a single established name. We shall call it information technology (IT)."[4] Their definition consists of three categories: techniques for processing, the application of statistical and mathematical methods to decision-making, and the simulation of higher-order thinking through computer programs.[4]
The term is commonly used as a synonym for computers and computer networks, but it also encompasses other information distribution technologies such as television and telephones. Leavitt and Thomas L. Several products or services within an economy are associated with information technology, including computer hardware, software, electronics, semiconductors, internet, telecom equipment, and e-commerce.[5][a]
Based on the storage and processing technologies employed, it is possible to distinguish four distinct phases of IT development: pre-mechanical (3000 BC — 1450 AD), mechanical (1450—1840), electromechanical (1840—1940), and electronic (1940 to present).[3] This article focuses on the most recent period (electronic).
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