Hiring Pace Drops By 17%: 9 Key Survey Takeaways For Students

A survey conducted by ManpowerGroup involving 3,020 employers has revealed that the hiring pace in India is going for an anticipated measured hiring pattern in the next 3 months. The reasons as per the findings of the survey point to employers' desire to invest in the professional development of their workforce and create a positive work culture. 

It also pointed out that across sectors and regions, hiring intentions of employers have declined by 17 % when compared with the same time last year. Nonetheless, on a quarter-on-quarter basis, there has been a marginal improvement of 1%. 

9 Important Survey Findings Calling For Students' Attention

As per the survey findings conducted by ManpowerGroup, the following points should be taken into consideration while students aspire to get hired in different sectors:

• With stable outlooks across the regions in India, employers in the North (+40%) reported the strongest hiring intentions, followed by the West (+38%), South (+36%), and East (+34%). 
• IT and Tech sector continue to drive the market demand for talent with the highest net employment outlook of (+44%) for the fourth consecutive quarter but weakened (-20%) vs. Q4 2022. 
• Employers from large organizations report the highest hiring (+46%) followed by medium-sized companies (+38%) with barely any difference when compared to last quarter.
• Employers are considering increasing hiring for non-traditional candidates to mitigate talent scarcity.
• Top soft skills that employers prioritize in hiring include collaboration & teamwork, active learning & curiosity, leadership & social influence, creativity & originality reasoning & problem-solving.
• When asked to identify the needs of each age group, employers reported that recruiting, upskilling, and reskilling the Gen Z workforce is currently their main area of focus.
• Employers are seeking to hire Gen Z candidates who are prepared to learn.
• Baby boomers, teachers, and leaders are another section of candidates that employers are looking to hire.
• Top drivers of workplace productivity include the following factors such as professional development, positive work culture, clear goals and objectives, work-life balance, and leveraging new AI-enabled tools.

Be The 'Candidate' Your Dream Company Wants

As the survey clearly indicated a drop in the hiring process, tough competition lies ahead for students when it comes to hiring. Therefore, it is high time for students to improve their skills and be prepared for the competition that is coming. Here is one such platform where you can enhance your skillset and connect your talent with your dream job. Click here to access the platform to learn and practice right away- Unstop Practice.

To read the ManpowerGroup survey, you can click to access the PDF of the survey- Indian Employers Anticipate Measured Hiring For Q4.

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