Indian employers most optimistic about hiring in October-December quarter: ManpowerGroup survey

Indian companies have recorded the best hiring sentiment in the world over the next three months, with 37% of employers planning to increase hiring as companies remain optimistic about the country’s economic situation, a survey showed on Tuesday.

According to the ManpowerGroup Employment Outlook Survey for Q4 2024, which surveyed nearly 3,150 employers across sectors and regions, India’s net employment outlook is the best in the world at 37%, followed by Costa Rica (36%) and the United States (34%), respectively.

Net employment prospects (NEO) are calculated by subtracting the percentage of employers anticipating job cuts from the percentage of employers planning to hire.

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India’s employment outlook for the fourth quarter (October-December) was 37 per cent, up 7 per cent from the third quarter of 2024 and unchanged from the same period last year.

“The employers’ intention to hire signifies a positive outlook in the country’s economic position, which has been boosted by exports driven by multilateral foreign policy and large-scale infrastructure development. Coupled with this, our demographic advantage, which is expected to enhance our competitiveness in the global market,” said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East.

The survey found that employers across all sectors have a positive hiring outlook, with the financial and real estate industry (47%) reporting the strongest hiring outlook, followed by information technology (46%), industrials and materials (36%) and consumer goods and services (35%).

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The least optimistic outlook was observed in the communication services sector (28%).

The study also noted that the northern region of India continues to dominate in terms of job demand, with forecasts at 41%, followed by the West (39%).

Gulati added that “India is expected to focus on high domestic consumption, government programmes to stimulate the economy, growing demand for outsourcing services and a manufacturing boom.

“With an increased focus on skills development to meet market demand, India can reduce unemployment and accelerate economic growth by creating a more capable and flexible workforce that meets the needs of emerging industries.” Asia-Pacific employment managers predict the second-strongest regional forecast at 27 percent, up 4 percent from the previous quarter but down from the same period last year.

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India, Singapore and China continue to report the strongest employment prospects in the region. Employers in Hong Kong reported the most cautious employment prospects (8 per cent).

Survey responses were collected from July 1 to July 31, 2024, and 40,340 employers from 42 countries were asked about their recruiting plans in the fourth quarter.