staffing industry: Flexi workforce grows 5.6 per cent in April-June quarter

staffing industry: Flexi workforce grows 5.6 per cent in April-June quarter

Employment of formal contract, or ‘flexi’, workers in the country increased 5.6% year on year in the quarter ended June, a report by Indian Staffing Federation (ISF) has said.

Total formal flexi workforce employed by members of ISF reached 1.5 million as of June end, according to the federation’s Flexi Staffing Industry Employment Growth Report for the first quarter of 2023-24.

During the period July 2022 to June 2023, the staffing industry grew 12.5% on year, it said. ISF members generated 131,000 net new employment during this period. The reported figures for new flexi jobs represent the combined contribution of both general flexi staffing and IT flexi staffing industries.

For the quarter ended June, ISF members generated 60,000 net new flexi employment – specifically led by general staffing – during the quarter.

“This remarkable growth in new jobs signifies that markets opened up hiring in Q1 after the last few quarters of slow growth,” said Lohit Bhatia, president of ISF. “Therefore, employment was comparatively higher than previous quarters across sectors.”

General flexi staffing contributed to new employment growth at 6.1% growth in the first quarter, the highest in three quarters.The surge in employment was particularly notable in sectors such as ecommerce, logistics, manufacturing, healthcare, FMCG, energy, retail, and banking, the report said.IT staffing though remained tepid, witnessing negative growth of 4.5% quarter on quarter during April-June 2023. Overall, there was an attrition in the workforce in this segment.

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Author: Shirley