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Mint
21-06-2025
- Business
- Mint
As job freeze grips India, mid-level managers feel the chill
Next Story Devina Sengupta India's corporate sector is experiencing a significant hiring slowdown, affecting mid-level managers and driven by geopolitical crises and business realignment amid AI's impact. Hiring mandates have dropped by 18-20% across many sectors, with overall unemployment rising to 5.6%. The warning that the hiring mandates in the contract staffing space are going down comes within days of government data showing the unemployment rate rose to 5.6% in May from 5.1% in April. Gift this article From boardrooms to back offices, India Inc. is hitting the brakes on hiring. This time, it's not just about IT—mid-level managers are feeling the freeze, while top roles remain the only sure bet. From boardrooms to back offices, India Inc. is hitting the brakes on hiring. This time, it's not just about IT—mid-level managers are feeling the freeze, while top roles remain the only sure bet. The crisis in the Middle East, poor visibility and business realignment as companies measure the impact of artificial intelligence have caused hesitancy in the job market. Slower hiring in India's private sector mirrors the overall increase in unemployment, driven by fewer rural jobs. 'There is a degrowth in many sectors in terms of headcount addition. When compared quarter on quarter, most of the sectors have shown an 18-20% dip in hiring mandates," said Guruprasad Srinivasan, group chief executive officer (CEO) of staffing firm Quess Corp. 'The sectors are showing a kind of withdrawal symptom from hiring. The year-on-year numbers do not look encouraging either. Quess has about 1,300 open mandates in the IT and Global Capability Center (GCC) sector, about 18% down from the April-June period of last year. Banking and financial services (BFSI) mandates have fallen by at least 20%, while auto and engineering by 13% in the first quarter of the fiscal year, when compared on a like-for-like basis. Srinivasan pointed out that the consumer and retail sector remains flat, while the only sector showing some growth is manufacturing and construction. The drop in hiring mandates at contract staffing firms reflects the increase in the unemployment rate to 5.6% in May from 5.1% in April. It was the domino effect of a shift in rural employment away from agriculture, according to data released Monday by the ministry of statistics and programme implementation (MoSPI). According to the MoSPI, the contraction in agricultural activity affected both men and women in rural areas. Changing tack Quess' rival TeamLease Services has also cautioned about a damp hiring environment. 'There is a relative slowdown in private sector hiring. Of the 600 million people participating in India's labour force, 80 million are employed in the formal sector. When further distilled, 6 million of the 80 million fall into the third-party contract staffing space," said Balasubramanian A., senior vice-president and business head at TeamLease Services. 'There may not be large-scale layoffs, but a measured approach in hiring." Also read: TCS offers vendor bonus to speed up quality hiring According to the Teamlease Employment Outlook report, 47% of employers anticipate workforce expansion, 25% expect reductions, and 28% foresee no change, resulting in net employment change (NEC) of +2.8% in the April-September months of this fiscal. The NEC for the earlier six months (October 2024-March 2025) was +7.1%, signalling a 'deliberate pivot toward demand-sensitive and cost-conscious hiring". The hiring industry includes staffing firms that provide a third-party workforce, where the employee works for a firm but is on the payroll of the hiring vendor. Then, there are recruitment companies that place junior and middle-management executives in companies. Search firms look at hiring top-level executives. Mint detailed in May how large tech-enabled businesses such as Zomato, Cars24, and Gupshup, among others, have laid off employees over the past quarter. Many others, such as Swiggy and Flipkart, have pruned divisions and reassigned staff to other roles. Globally, too, big tech firms like Microsoft are pruning their workforce. Mid-level executives Job opportunities for the middle-order executives were scarce in the April-June period. 'There is a 15% dip in the hiring mandates of executives who have four to eight years of experience in the consumer, pharmaceutical, hospitality and financial services," noted Anshuman Das, chief executive and co-founder of Careernet, a talent solutions provider. But a year-on-year comparison may be unjustified, as Das pointed out. 'When one compares on a like-to-like basis, the drop in hiring mandates will widen because there were no tariff-related challenges and the global uncertainty was still limited to the Russia-Ukraine war." Leadership hiring is turning out to be a mixed bag and some businesses are urgently looking for CXOs. In fact, Mint wrote this week that even in the case of open positions, job seekers are hesitant about joining a new firm as they are afraid of sudden changes in the firm's need for a new person as the geopolitical climate and global economy play truant. The last man in will be the first one out—a fear that has gripped many. 'It is client specific and we are seeing good traction in industrial manufacturing, pharmaceutical, automotive and auto ancillary and Indian firms who want to set up base in Africa and Latin America," said K. Sudarshan, managing director for the search firm EMA Partners India Ltd. He pointed out that the FMCG hiring, on the other hand, is 'tepid". Topics You May Be Interested In Stay updated with the latest Trending, India , World and United States news. Get breaking news and key updates here on Mint!
Mint
21-06-2025
- Business
- Mint
Talent freeze: CXOs get picked, mid-level left waiting
From boardrooms to back offices, India Inc. is hitting the brakes on hiring. This time, it's not just about IT—mid-level managers are feeling the freeze, while top roles remain the only sure bet. The crisis in the Middle East, poor visibility and business realignment as companies measure the impact of artificial intelligence have caused hesitancy in the job market. Slower hiring in India's private sector mirrors the overall increase in unemployment, driven by fewer rural jobs. 'There is a degrowth in many sectors in terms of headcount addition. When compared quarter on quarter, most of the sectors have shown an 18-20% dip in hiring mandates," said Guruprasad Srinivasan, group chief executive officer (CEO) of staffing firm Quess Corp. 'The sectors are showing a kind of withdrawal symptom from hiring. Also read: Big Four feel the heat as promotions drop, clients tighten purse strings The year-on-year numbers do not look encouraging either. Quess has about 1,300 open mandates in the IT and Global Capability Center (GCC) sector, about 18% down from the April-June period of last year. Banking and financial services (BFSI) mandates have fallen by at least 20%, while auto and engineering by 13% in the first quarter of the fiscal year, when compared on a like-for-like basis. Srinivasan pointed out that the consumer and retail sector remains flat, while the only sector showing some growth is manufacturing and construction. The drop in hiring mandates at contract staffing firms reflects the increase in the unemployment rate to 5.6% in May from 5.1% in April. It was the domino effect of a shift in rural employment away from agriculture, according to data released Monday by the ministry of statistics and programme implementation (MoSPI). According to the MoSPI, the contraction in agricultural activity affected both men and women in rural areas. Changing tack Quess' rival TeamLease Services has also cautioned about a damp hiring environment. 'There is a relative slowdown in private sector hiring. Of the 600 million people participating in India's labour force, 80 million are employed in the formal sector. When further distilled, 6 million of the 80 million fall into the third-party contract staffing space," said Balasubramanian A., senior vice-president and business head at TeamLease Services. 'There may not be large-scale layoffs, but a measured approach in hiring." Also read: TCS offers vendor bonus to speed up quality hiring According to the Teamlease Employment Outlook report, 47% of employers anticipate workforce expansion, 25% expect reductions, and 28% foresee no change, resulting in net employment change (NEC) of +2.8% in the April-September months of this fiscal. The NEC for the earlier six months (October 2024-March 2025) was +7.1%, signalling a 'deliberate pivot toward demand-sensitive and cost-conscious hiring". The hiring industry includes staffing firms that provide a third-party workforce, where the employee works for a firm but is on the payroll of the hiring vendor. Then, there are recruitment companies that place junior and middle-management executives in companies. Search firms look at hiring top-level executives. Mint detailed in May how large tech-enabled businesses such as Zomato, Cars24, and Gupshup, among others, have laid off employees over the past quarter. Many others, such as Swiggy and Flipkart, have pruned divisions and reassigned staff to other roles. Globally, too, big tech firms like Microsoft are pruning their workforce. Mid-level executives Job opportunities for the middle-order executives were scarce in the April-June period. 'There is a 15% dip in the hiring mandates of executives who have four to eight years of experience in the consumer, pharmaceutical, hospitality and financial services," noted Anshuman Das, chief executive and co-founder of Careernet, a talent solutions provider. But a year-on-year comparison may be unjustified, as Das pointed out. 'When one compares on a like-to-like basis, the drop in hiring mandates will widen because there were no tariff-related challenges and the global uncertainty was still limited to the Russia-Ukraine war." Also read: Jumping jobs? A Supreme Court judgement just made it tough, for freshers Leadership hiring is turning out to be a mixed bag and some businesses are urgently looking for CXOs. In fact, Mint wrote this week that even in the case of open positions, job seekers are hesitant about joining a new firm as they are afraid of sudden changes in the firm's need for a new person as the geopolitical climate and global economy play truant. The last man in will be the first one out—a fear that has gripped many. 'It is client specific and we are seeing good traction in industrial manufacturing, pharmaceutical, automotive and auto ancillary and Indian firms who want to set up base in Africa and Latin America," said K. Sudarshan, managing director for the search firm EMA Partners India Ltd. He pointed out that the FMCG hiring, on the other hand, is 'tepid".
Time of India
30-05-2025
- Automotive
- Time of India
Flexi-staffing, EV, e-commerce to drive 2.8% Indian workforce growth in April-Sep: Report
New Delhi: The growing trend of flexible workforce models, and increased opportunities in the Electric Vehicles (EVs) and e-commerce sectors is set to boost the workforce in India, according to a report on Thursday. The Employment Outlook Report (EOR) for the period between April and September by TeamLease Services, a staffing firm, highlighted measured optimism amid economic complexity. With 47 per cent of employers indicating plans for workforce expansion, 28 per cent opting for stability, and 25 per cent predicting reductions, the report forecasts a 2.8 per cent Net Employment Change (NEC). It showed that the growing trend of flexi-staffing is taking centre stage, with 69 per cent of employers embracing flexible workforce models to manage cyclical demand and seasonal peaks. Similarly, the gig economy remains a cornerstone of hiring strategies, with 64 per cent of employers expanding sales and customer service roles through gig models. "India's workforce stands at a defining moment, where traditional models of hiring are giving way to more dynamic and adaptive strategies. As industries embrace emerging technologies, organisations must recognise that agility and innovation are the true engines of success," said Kartik Narayan, CEO-Staffing, TeamLease Services. "The future lies not in simply expanding headcount, but in shaping highly specialised, flexible teams that can scale, evolve, and thrive amid continuous market shifts. By fostering such talent ecosystems, companies will not only adapt but will lead India's workforce into a new era of growth and opportunity," Narayan added. Further, employers are now prioritising core competencies like digital literacy (76 per cent), customer experience management (68 per cent), and communication (63 per cent), indicating a clear focus on tech-readiness, service orientation, and effective collaboration, the report said. It also highlighted that the automotive sector projecting a 6.9 per cent NEC and EVs and allied infrastructure sector poised for strong growth at 7.1 per cent, are leading the charge. Similarly, e-commerce and tech startups are set to grow by 6.9 per cent, the report said. The rise of AI and automation is another factor accelerating the evolution of workforce requirements. The shift to generative AI, cloud technologies, and low-code platforms is driving demand for specialised, tech-savvy talent across all sectors, said the report that leveraged extensive primary and secondary research, drawing insights from over 1,263 employers across 23 industries and 20 cities.
Time of India
29-05-2025
- Automotive
- Time of India
India's Workforce Set to Grow 2.8% Driven by Flexi-Staffing and EVs: TeamLease Report, ETHRWorld
Advt Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHRWorld App Get Realtime updates Save your favourite articles Scan to download App New Delhi: The growing trend of flexible workforce models, and increased opportunities in the Electric Vehicles (EVs) and e-commerce sectors is set to boost the workforce in India, according to a report on Employment Outlook Report (EOR) for the period between April and September by TeamLease Services, a staffing firm, highlighted measured optimism amid economic 47 per cent of employers indicating plans for workforce expansion, 28 per cent opting for stability, and 25 per cent predicting reductions, the report forecasts a 2.8 per cent Net Employment Change (NEC).It showed that the growing trend of flexi-staffing is taking centre stage, with 69 per cent of employers embracing flexible workforce models to manage cyclical demand and seasonal the gig economy remains a cornerstone of hiring strategies, with 64 per cent of employers expanding sales and customer service roles through gig models."India's workforce stands at a defining moment, where traditional models of hiring are giving way to more dynamic and adaptive strategies. As industries embrace emerging technologies, organisations must recognise that agility and innovation are the true engines of success," said Kartik Narayan, CEO-Staffing, TeamLease Services."The future lies not in simply expanding headcount, but in shaping highly specialised, flexible teams that can scale, evolve, and thrive amid continuous market shifts. By fostering such talent ecosystems, companies will not only adapt but will lead India's workforce into a new era of growth and opportunity," Narayan employers are now prioritising core competencies like digital literacy (76 per cent), customer experience management (68 per cent), and communication (63 per cent), indicating a clear focus on tech-readiness, service orientation, and effective collaboration, the report also highlighted that the automotive sector projecting a 6.9 per cent NEC and EVs and allied infrastructure sector poised for strong growth at 7.1 per cent, are leading the charge. Similarly, e-commerce and tech startups are set to grow by 6.9 per cent, the report rise of AI and automation is another factor accelerating the evolution of workforce shift to generative AI, cloud technologies, and low-code platforms is driving demand for specialised, tech-savvy talent across all sectors, said the report that leveraged extensive primary and secondary research, drawing insights from over 1,263 employers across 23 industries and 20 cities.
Time of India
29-05-2025
- Automotive
- Time of India
Women in Tech: 14% Representation Rise in Non-Tech Sectors for 2024, ETHRWorld
Advt Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHRWorld App Get Realtime updates Save your favourite articles New Delhi: The growing trend of flexible workforce models, and increased opportunities in the Electric Vehicles (EVs) and e-commerce sectors is set to boost the workforce in India, according to a report on Employment Outlook Report (EOR) for the period between April and September by TeamLease Services, a staffing firm, highlighted measured optimism amid economic 47 per cent of employers indicating plans for workforce expansion, 28 per cent opting for stability, and 25 per cent predicting reductions, the report forecasts a 2.8 per cent Net Employment Change (NEC).It showed that the growing trend of flexi-staffing is taking centre stage, with 69 per cent of employers embracing flexible workforce models to manage cyclical demand and seasonal the gig economy remains a cornerstone of hiring strategies, with 64 per cent of employers expanding sales and customer service roles through gig models."India's workforce stands at a defining moment, where traditional models of hiring are giving way to more dynamic and adaptive strategies. As industries embrace emerging technologies, organisations must recognise that agility and innovation are the true engines of success," said Kartik Narayan, CEO-Staffing, TeamLease Services."The future lies not in simply expanding headcount, but in shaping highly specialised, flexible teams that can scale, evolve, and thrive amid continuous market shifts. By fostering such talent ecosystems, companies will not only adapt but will lead India's workforce into a new era of growth and opportunity," Narayan employers are now prioritising core competencies like digital literacy (76 per cent), customer experience management (68 per cent), and communication (63 per cent), indicating a clear focus on tech-readiness, service orientation, and effective collaboration, the report also highlighted that the automotive sector projecting a 6.9 per cent NEC and EVs and allied infrastructure sector poised for strong growth at 7.1 per cent, are leading the charge. Similarly, e-commerce and tech startups are set to grow by 6.9 per cent, the report rise of AI and automation is another factor accelerating the evolution of workforce shift to generative AI, cloud technologies, and low-code platforms is driving demand for specialised, tech-savvy talent across all sectors, said the report that leveraged extensive primary and secondary research, drawing insights from over 1,263 employers across 23 industries and 20 cities.
