Taggd Decoding Jobs Report 2023: India Inc. Shows a 20% Desire to Recruit

According to the Decoding Jobs 2023 India Report by Taggd, which was prepared in collaboration with the Confederation of Indian Industry, Indian employers are expressing a cautiously optimistic recruitment intent of 20% for 2023, as opposed to the 28% surge witnessed last year (CII). The robust recruiting momentum may be attributed to India's economy's outstanding performance in the face of increased global concerns, spurred in particular by a strong push in the manufacturing and engineering sectors under India's flagship 'Make in India' programme.
According to general hiring patterns, the need for workers in India will continue to be dominated by the automotive (30%), manufacturing (25%), and financial services (24%) industries, with internet enterprises (19%) and the pharmaceutical and healthcare (16%) industries lagging behind. In the IT sector, a modest 10% rise in hiring is predicted. Yet the demand for IT skills will rise in traditionally non-technical industries like manufacturing, agriculture, and medicines. While the global in-house or global captive centres continue to grow in India, GICs are expected to record a 29 percent hiring increase in 2023, down from the 36 percent reported in the previous year. and will do a great deal more recruitment. The poll found that 54% of companies are focusing their hiring efforts on creating talent centres rather than tier-I cities, highlighting how well-liked non-tier-I locations are for luring top talent. According to the study, women's participation fell from 36% in 2021 to 33% in 2022. The study was publicly launched at the Decoding Jobs Annual Conference in the presence of Shri Atul Kumar Tiwari, Secretary, Ministry of Skill Development and Entrepreneurship, Government of India. Among the dignitaries in attendance were Dr. Raajiv Singhal, Member of the CII National Committee on Talent Development and Livelihood, and Founding Member, Managing Director & CEO of Marengo Asia Hospital. The Hon'ble Union Minister for Labor and Employment, Shri Bhupender Yadav, was also given a copy of the report for his assessment. The President of Taggd, Mr. Devashish Sharma, elaborated on recruiting predictions for 2023 by saying, "Companies may start the calendar year 2023 on a cautiously optimistic note, however, we expect hiring to pick up in the following months, driven by existing as well as new demand for talent. India has successfully attracted and maintained huge levels of FDI, both from individual investors as well as large multinationals that have helped propel the economy forward. The local consumer markets have also had a pivotal role to play as India brings in equilibrium in the current state of global market headwinds."
Government representatives, CEOs, CHROs, HR Heads, talent acquisition executives, and senior talent acquisition practitioners were among the more than 600 guests at the conclave. Corporate executives and CHROs discussed developments in the labour market against the backdrop of India as the most alluring destination for businesses seeking sustainable and long-term growth at the conference, which had as its theme "India: Safe harbours amid global challenges."

Company Name: Taggd India
Address: Corporate Office, A-10 Infocity, Sector-34, Gurugram
Press contact: harshita.sharma@taggd.in
Website: https://taggd.in/sectoral-report/decoding-jobs-2023-india-report/?utm_source=Organic&utm_medium=PR_Site_openpr&utm_campaign=Decoding-Reports-Download-Organic

The Decoding Jobs Report is an annual compilation of two separate qualitative and quantitative research that Taggd conducts in association with the Confederation of Indian Industry (CII). Decoding Jobs India Report, which was released in 2019, aims to comprehend hiring intentions across seven significant non-farm organised sectors, track changes in the job market in each sector, and present the perspectives of key figures from the job ecosystem, including the government, academia, and business.

This release was published on openPR.