Bangalore emerges as top city in intent to hire in 2nd quarter: Report

Driven by growth in IT, e-commerce, FMCG and other allied sectors, Bangalore has emerged as the top city with the highest intent to hire in the second quarter followed by Chennai and Mumbai, according to a report.

In the July-September quarter 95 per cent of employers expressed the intent to hire more, compared to 91 per cent in the April-June quarter, said the TeamLease Employment Outlook Report.

From a pan-India perspective, 61 per cent of employers surveyed were keen to hire during the period, a seven percentage point increase over last quarter, it added. In Bangalore, both manufacturing and services have shown positive intent to hire, the report stated.

In the manufacturing sector, leading industries were FMCG (48 per cent), healthcare and pharmaceuticals (43 per cent), manufacturing, engineering and infrastructure (38 per cent), power and energy (34 per cent) and agriculture and agrochemicals (30 per cent), the report said.

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From the services sector perspective, leading industries included information technology (97 per cent), e-commerce and allied start-ups (85 per cent), education services (70 per cent), telecommunications (60 per cent), retail (64 per cent) and financial services (55 per cent), it added.

Over the last decade, Bangalore as a market has seen exponential growth across industries, especially with the emergence of many new age internet based companies providing varied value driven services and products. This positive growth momentum has led to an influx of employment opportunities across roles and sectors.

“More employers are keen to increase their resource pool and are also inclined to pay higher remunerations. In fact in the coming quarters, hiring intent is further expected to be 97 per cent,” TeamLease Services Chief Business Officer Mahesh Bhatt said.

The TeamLease Employment Outlook Report is a comprehensive hiring outlook report reflecting the hiring sentiment of over 865 employers across 14 cities and 23 sectors in India.

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This report carries Intent to Hire statistics for the second quarter, 2022-23 (July-September 2022) on the basis of the survey and analysis carried out during April and May, 2022.

Meanwhile, the report revealed that Chennai is the second top city in terms of hiring intent in the second quarter of this financial year with 87 per cent employers keen to hire compared to 78 per cent during the April-June quarter.

Mumbai saw a seven percentage point increase in intent to hire to 83 per cent during the second quarter from 76 per cent in the previous quarter. Of the 23 sectors reviewed, a majority of the sectors exhibited positive intent to hire in Mumbai, the report said.

FMCG (59 per cent), manufacturing, engineering and infrastructure (54 per cent), power and energy (54 per cent), healthcare and pharmaceuticals (40 per cent), agriculture and agrochemicals (32 per cent) and FMCD (32 per cent) are leading in the manufacturing segment.

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In the services sector, IT (81 per cent), financial services (80 per cent), telecommunications (76 per cent) and e-commerce and allied start-ups (69 per cent) were the most promising for candidates seeking out employment, it added.

(With inputs from agencies)