BENGALURU: IT staffing industry demand remains cautious but employment in fintech, IT infra, cloud, cybersecurity and data analytics are witnessing promising growth, says Flexi Staffing Industry Employment growth report for Q1 FY2023.
According to the report, the IT staffing industry grew 20.3 per cent year-on-year (YoY) in the first quarter, and the staffing industry grew at 28 per cent YoY, adding 2.33 lakh new formal contract workforce between July 2021 and June 2022.
Lohit Bhatia, President of the Indian Staffing Federation, said there was a robust 28 per cent Y-o-Y new employment growth in the last four quarters.
“The Q1 Flexi staffing industry report shows a robust new employment growth through formal staffing companies. Consumer confidence is elevated and the demand across sectors remains high,” he said. General staffing demand from sectors like e-commerce, retail, manufacturing, and BFSI were the main employment generators in the April-June 2022 quarter.
The staffing industry also witnessed a sharp 6.6 per cent growth in the April-June quarter, adding 66,000 new Flexi-workforce and registering a robust demand for Flexi workforce after the third Covid wave.
Pramod Pachisia, vice-president, Indian Staffing Federation said, “At 6.6 per cent Q1FY2023 growth, ISF members added a significant 66,000 new jobseekers to India’s formal workforce in the quarter, taking the total workforce employed through them to 1.29 million.”
“Demand from across industries continued to rise and added to the employment demand despite the geo-political tensions developing across the world and tough financial markets. We expect the trend to continue over the next few quarters,” he added.
Staffing industry sees 6.6 per cent growth in Q1
The staffing industry also witnessed a sharp 6.6 per cent growth in the April-June quarter, adding 66,000 new Flexi-workforce and registering a robust demand for Flexi workforce after the third Covid wave