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Boomerangs
According to the Tagged India Decoding Jobs 2024 research, corporate India will hire more in 2024, with a 19% increase in hiring numbers compared to the previous year. The research includes qualitative and quantitative insights from 200+ business leaders across different industry areas. It is a complete reference to India's latest hiring trends, difficulties, and best practices in the Indian job market. Manufacturing, automotive, banking, financial services, and insurance (BFSI) will lead in hiring.
Which industries will hire the most people in 2024?
The manufacturing sector leads the hiring trend with a 25% increase in hiring intent, indicating a solid prognosis for industrial expansion. Second, the automobile industry is expected to see a 20% increase in hiring intentions. Aside from that, the internet business and global in-house centres (GIC) sectors are expected to witness a 20% growth in recruiting. However, the IT sector will remain in a slump, as the survey indicates it has a more conservative hiring intent growth rate of 3%.
Is the hybrid form of work on its way out?
According to the survey, labour from the office alone is predicted to fall to 33%, while remote work remains stable at 7%. Indeed, 60% of the employers polled want to hire in flexible work arrangements, indicating a continuous acceptance of flexible work arrangements.
The survey also lists the top five states in terms of talent pool availability:
- Maharashtra
- Delhi
- Karnataka
- Telangana
- Tamil Nadu
A look ahead to the Indian labour market in 2024
"The Indian job market leading up to 2024 is a tale of resilience, adaptability, and growth," according to the research. In this fast-paced world, success is determined by "a commitment to skill development and an unwavering willingness to embrace change." Thus, 2024 is a watershed moment in which investments in artificial intelligence and data combine to fuel the skilling ecosystem and the future of employment.