India has emerged as the powerhouse of employment opportunities in the Asia Pacific (APAC) region, boasting the strongest employment outlook at over 30 percent in the third quarter (Q3) of 2024, according to a report released by global workforce solutions company ManpowerGroup on Tuesday.
North India: The Hub Of Hiring Intentions
The report, based on a comprehensive survey gathering data from 3,150 employers across various sectors, highlights North India as the epicenter of hiring intentions, with over 36 percent of employers indicating a strong inclination to expand their workforce.
Key sectors propelling this surge in employment include finance, real estate, healthcare, and life sciences.
Particularly, the real estate sector has witnessed a significant upsurge in investor interest, with a notable capital inflow of $1.1 billion, primarily driven by the residential segment, as noted by Sandeep Gulati, Managing Director for India and the Middle East at ManpowerGroup.
The report also sheds light on the hiring optimism across different organization sizes.
Large organizations, with employee counts ranging from 1,000 to 4,999, exhibit the strongest hiring sentiment with a Net Employment Outlook of 42 percent.
Following closely are small (50 to 249) and medium (250 to 999) organizations, both at 34 percent, while large enterprises clock in at 30 percent.
Moreover, the integration of artificial intelligence (AI) into the workforce is becoming increasingly prevalent.
The report indicates that over 62 percent of employers have embraced AI, including generative conversational AI.
Interestingly, 80 percent of senior leadership teams express optimism regarding the positive impact of AI on overall business operations, contrasting with 68 percent of frontline and factory workers who share similar sentiments.
In line with this technological transition, a significant portion of employers, approximately 68 percent, are gearing up to expand their headcounts over the next two years, attributing this growth to the adoption of AI and machine learning technologies.
The report underscores India’s resilience and dynamism in navigating through evolving economic landscapes, positioning itself as a frontrunner in the region’s employment market.
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