Bengaluru and Mumbai continue to be sunshine locations for jobs in Q4: states TeamLease Services
Chandigarh (Gurpreet) Continuing the recovery from the Covid-19 pandemic and benefitting from multiple government initiatives, Bengaluru, Mumbai and Chennai have emerged as the cities with the highest hiring sentiment in the services and manufacturing sectors respectively, according to the TeamLease Employment Outlook Reports for Q4 (January to March, 2023). Close to 97% employers across both cities have expressed higher hiring intent for their corresponding sectors. For the services sector, Chennai (94%), Delhi (90%), Hyderabad (86%) and Mumbai (85%) follow suit as top locations; and for manufacturing, subsequent top cities include Bengaluru (94%), Chennai (89%), Delhi (84%) and Pune (73%). Incidentally, Bengaluru, Mumbai, and Chennai have emerged as sweet spots from a holistic perspective across sectors.
Overall, while Tier 1 cities lead in terms of hiring intent, Tier 2 cities are also emerging, with close to 75% employers across both sectors indicating positive sentiment. However, Tier 3 (46%) and rural geographies (24%) are lagging considerably. In the manufacturing sector, the intent to hire is greater in metro and Tier 1 cities (94%) as compared to Tier 2 cities (73%), Tier 3 (43%), and the rural sector (23%). On the other hand, for services, in Metro & Tier-1 cities, the hiring intent is at an exceptionally high level (99%), followed by Tier 2 (77%), Tier 3 (49%) and rural (25%).
Sharing his insights, Mr. Kartik Narayan, Chief Executive Officer - Staffing, TeamLease Services, said, “Surplus public investment in PLI schemes, the Indian Government's asset monetization program, increased private participation in key sectors, and the revisions in FDI laws in the defence and telecom sectors has fueled growth in companies across sectors, especially in Tier 1 and Tier 2 locations. Companies are therefore shoring up their talent pool to meet their increasing requirements. The positive hiring outlook will likely continue in the next quarter as well."