Flexi staffing India: ​​​Flexi ​staffing ​industry​ sees 5.9% ​growth in ​new ​jobs during ​J​uly-Sep 2023

The staffing industry witnessed a sharp 5.9% growth in July-September 2023 (Q2 FY24) in comparison to April-June 2023 (Q1 FY2024), recording a robust demand for the flexi (contract) workforce, finds the flexi staffing industry employment growth report for Q2 FY2024 (July-September 2023).

The report by Indian Staffing Federation, the apex industry body representing the manpower outsourcing industry, shows that the staffing industry grew at 12.6% year-on-year, in the period October 2022-September 2023 (Q2 FY24 vs Q2 FY23). The rise in employment was particularly notable in key sectors such as e-commerce, retail, FMCG, logistics, manufacturing, hospitality, tourism, aviation, energy, etc.

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The report highlighted that as of September 2023, the total formal flexi workforce employed by members of the Indian Staffing Federation reached 1.57 million. The reported figures for new flexi jobs by ISF represent the combined contribution of both general flexi staffing and IT flexi staffing industries.

General flexi staffing (i.e. excluding IT flexi staffing) contributed with new employment growth at 6.1% growth in Q2 FY24. However, the IT staffing witnessed a slightly better quarter where it is showing signs of recovery at +1.5% quarter-on-quarter in Q2 FY24.

“While the flexi staffing industry continued a double digit new employment growth trend at 12.6% year over year, the general staffing standalone observed strong growth of 13.9% year over year for Q2 FY24 in comparison to Q2 FY23, reflecting its strong performance. There is a significant seventy-one thousand new employment generated in general staffing, solely by ISF staffing members in Q2 of FY24. This remarkable growth in new jobs signifies that markets have opened up hiring after few quarters of slow growth,” said Lohit Bhatia, president, Indian Staffing Federation.

“The IT services has opened up with some new employment generation with additional boost coming from BFSI, fintech, IT infra, cloud, cybersecurity, data analytics, etc. GCCs continue to play an active role as the plans of expansion and new set ups are moving at a great speed,” Bhatia added.”New employment generated in the IT staffing industry has shown signs of recovery at +1.5% in July-September this year. The IT staffing industry has started to show positive recovery from the previous three quarters in its quarter over quarter growth. However, new employment numbers have not added as many to pull the industry in complete recovery, though IT industry looks promising in coming quarters,” said Pramod Pachisia, vice-president, Indian Staffing Federation.

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