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New Delhi
Jobseekers in India may have a reason to be happy as a SaaS and frontline workforce management firm has said that there will high demand for these workers in the first half of the year 2024 and there will be as many as 3.9 million jobs up for grabs.
BetterPlace, the firm that made the analysis, reportedly considered more than a million data points. the report, released earlier this week, says that demand for workers will continue to be fuelled by logistics and mobility industries. The report says these industries will account for more than 50 per cent of the overall requirement.
Sectors like E-commerce along with International Financial Management (IFM) and IT will be in second and third place with 27 and 13.7 per cent of overall demand respectively.
Sectors contributing least to the job market were BFSI (Banking, Financial Services, and Insurance) and QSR (Quick Service Restaurants) at 1.96 per cent.
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According to the report, IFM and IT saw significant decline in attrition rates. Broadly, this was because these sectors contributed to third-highest demand for frontline workers.
The report also noted that logistics and mobility saw second highest decrease in attrition rate at 12.9 per cent. The salaries in this sector stabilised.
"The trend of variabilisation of work that we predicted is becoming stronger by the day. Our workforce trends indicate a gradual shift away from traditional sectors towards gig-sectors. Notably, sectors like IFM and IT and logistics and mobility have undergone a significant transformation; previously marked by high attrition, there seems to be a normalisation with fewer individuals leaving their gig jobs due to increased earning potential," BetterPlace Co-founder and Group CEO Pravin Agarwala said in a statement as quoted by IANS.
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Another report, released some days before the one by BetterPlace, has similar findings.
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India Decoding Jobs 2024 by Taggd foresees a surge of demand across industry segments at an overall increase of 19% in hiring compared to the previous year. The report also projects an increase in the hiring of women (36% in 2024 compared to 33% in 2023) along with hiring for hybrid roles. About 2 out of 3 hires in 2024 will be for hybrid roles.
(With inputs from agencies)