Business sentiment in the country has improved due to the production linked incentive (PLI) scheme of the government. In such a situation, now companies have expressed their intention to recruit more employees in the September quarter.
New Delhi.
Companies are looking to hire more employees in the July-September quarter amid improved business sentiment on increased public investment in production-linked incentive (PLI) schemes.
TeamLease’s employment outlook report said that new hiring intent of companies has increased by 7 per cent to 61 per cent in the current quarter as compared to the April-June quarter. In the last quarter, the intention to recruit new recruits was at 54 percentage points.
Tier-1 cities may see up to seven per cent more new recruitment
It has been concluded based on a survey conducted among about 900 small, medium and large companies located in 14 cities across the country. According to the report, it has seen an increase of seven percentage points in metros and tier-1 cities.
It has increased from 81 percentage points in the first quarter of the current financial year to 89 percentage points in the second quarter.
In rural areas, such a high number of recruitments is possible
whereas in tier II cities, the intention to make new recruitments has increased by 7 percent to 62 percentage points, while for Tier III cities this probability has increased by 3 percentage points to 37 percentage points.
According to the report, there has been an increase of two percent in the intention of making new recruitments in rural and urban areas as well.
Which state can have more recruitment?
From a region-wise perspective, Delhi leads in manufacturing with the highest recruitment potential at 72 per cent, while Mumbai (59 per cent) and Chennai (55 per cent) are at the second and third positions.
In terms of services, Bengaluru’s highest 97 percent companies have expressed their intention to recruit in the July-September quarter. It is followed by Mumbai (81 percent) and Delhi (68 percent).
Rituparna Chakraborty, Executive Director and Co-Founder, TeamLease, said the overall business environment is improving and more companies are now planning to recruit new hires. “Prospects have improved with increasing public investment in PLI schemes.
There is not only an improvement in the new recruiting intent, but it is also likely to cross the 70 per cent mark in the next few quarters.
