According to the data provided by employment agency Quess Corp, the professional services sector’s workforce increased by double between January-May 2023, as compared to the same time last year. During January-May 2023, it hired the maximum number of people in India.
Taxation, business consulting, risk advisory, deal advisory, technology services, and environmental, social, and corporate governance (ESG) services were among the areas in the industry with the highest demand.
The disclosed employment trends insights state that hiring increased in India by 12% during the period based on payroll distribution data from Quess Corp’s subsidiary Allsec Technologies Ltd.
The industry was followed by the manufacturing sector as it witnessed about a 50% increase in headcount, which is majorly because of companies experiencing a strong uptick in sales for Indian products.
Furthermore, these two sectors were followed by banking, financial services, ad insurance (BFSI) and e-commerce sectors which recorded an increase in headcount by 16% each. The BFSI sector recorded an increase due to the factors like strong domestic demand, enhanced credit conditions for borrowers, and strengthened solvency and funding.
Whereas, for the e-commerce sectors, the growth drivers were the widespread adoption of smartphones, increasing internet penetration, growing access to digital payment systems, and the Centre’s push towards digital transactions
As per the report, the IT/ITes sector is also amongst the top five sectors, witnessing an increase of 9% in the headcount.
