July 13, 2022
The employment for general staffing grew by 21% with 0.15 million in the new formal workforce
The remaining (0.7 million) were added to IT and professional services
Women’s participation in the flexible workforce was at 27% in FY22
The demand or workforce grew by 3.6% in FY21
The staffing industry in India added 0.22 million employees in FY22, according to a report titled ‘ISF Annual Report 2021-22’ from the Indian Staffing Federation (ISF). The addition is 21.9% higher compared to FY21 and has exceeded the workforce demand of pre-Covid levels.
According to the report, the employment for general staffing grew by 21% with 0.15 million in the new formal workforce. The remaining (0.7 million) were added to IT and professional services.
The demand or workforce grew by 3.6% in FY21. The sectors that drove demand for general staffing were FMCG, e-commerce, manufacturing, healthcare, retail, logistics, banking, and energy. As per industry experts, a renewed confidence in India’s economic growth despite inflationary fears and geopolitical tensions, indicates that hiring is expected to increase over the next three quarters.
IT staffing industry witnessed a double demand for new employees with a growth of 30.7% in FY22, compared to 14.1% in FY’21. The report said that this was mostly driven by digital adoption across sectors. ISF members represent 1.26 million of the formal workforce.
Women’s participation in the flexible workforce was at 27% in FY22. The majority of flexible job opportunities have moved from outdoor sales to essential delivery services.