india inc: Optimism for hiring workforce at 11-year high: Report

india inc: Optimism for hiring workforce at 11-year high: Report

As the economy recovers from the onslaught of the Covid-19 pandemic, the optimization for hiring among India Inc is at an 11-year high, as per data analytics firm Dun & Bradstreet.

The Dun & Bradstreet Composite Business Optimism Index, a quarterly survey-based index which is designed to measure the pulse of the Indian business community across India, in Q2, increased 7.4%. All six of the six optimization indices have registered an increase, compared to Q1 2022, the firm said.

“Amidst current heightened geopolitical uncertainty, optimism of firms in India in Q2 2022 surged to the highest level in 11 years, as recorded by our index. Resumption of business activity has gathered pace following the third COVID wave experienced in India, with mobility increasing to above pre-COVID levels,” said Arun Singh, Global Chief Economist, Dun & Bradstreet.

Data shows that optimization for net profits stands at 65%, a 5-quarter high while the optimization for selling prices stands at 52%, the highest since Q2 2012. The basic goods sector is the most optimistic about net profit and increasing workforce size.

“Optimism around net profit was at the highest level it’s been in five quarters. Firms are likely to hire at an increased pace as their optimization for hiring workforce is also at an 11-year high, reflecting the buoyancy of the economy,” Singh added .

Another report, one by TeamLeaseshowed that a majority of jobs are now Covid-proof—no longer vulnerable to exigent circumstances—and most sectors have reached or are on their way to pre-Covid normalcy in terms of salaries.

According to the ‘Jobs and Salary Primer Report for FY2022 by TeamLease’, unlike the last two years, this year most of the job roles from across sectors have been considered for a salary hike. The increments are expected to be moderate.

On the salary front, top paymasters for 2022 include e-commerce and tech startups, healthcare and allied industries, information technology and knowledge services. Jobs in these sectors saw increments of more than 10%.

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