RGF International Recruitment Spotlights Optimism for India's Labor Market in 2023
Recruitment firm publishes latest report of insights into talent and employer sentiment
SINGAPORE, May 17, 2023 /PRNewswire/ — RGF International Recruitment, a global recruiting solutions provider, is announcing publication of its Advancing Beyond Recovery: Talent in Asia 2023 – India report, which finds a high degree of optimism for India’s labor market this year. Based on a survey from nearly 3,000 individuals across both employers and talent, the report also uncovers robust ongoing and projected job-seeking and hiring activities.
According to a recent report by The World Bank, India’s economy has shown resilience in the face of global uncertainty, and it remains one of the fastest growing economies in the world. Shedding light on labor specifically, RGF’s report underpins such an assessment while serving as a powerful tool for entities seeking to gain data-driven insights into the country’s labor market.
To download the report, please visit: https://www.india.rgf-professional.com/rgf-talent-in-asia-2023-india?utm_source=article&utm_medium=press&utm_campaign=tia2023
A year of optimism
After a tumultuous past few years, optimism among India’s talent and employers appears to be gaining momentum. When polled for the report, 70% of talent indicated a positive outlook for job prospects in 2023, up from 61% in 2021 and 51% in 2020. Specifically, the sectors with the highest levels of optimism among talent were:
- Consumer Goods, Retail & Hospitality (83%)
- Industrial Manufacturing (81%)
- Technology, Media and Telecommunications (77%)
On the employer side, the survey found that 73% are optimistic about their industry.
“With broad optimism, healthy hiring, and talent in search of ever-higher accomplishments, this year is shaping up to be a highly dynamic one for India’s labor market,” notes Sachin Kulshrestha, Managing Director of RGF Professional Recruitment India. “As the country continues on the path to recovery, employers and talent alike will increasingly need to find ways to meet halfway and manage expectations, and understanding talent’s motivations, needs, and priorities is the best first step.”
Behind this positive outlook are several factors, including a sense of overcoming the pandemic, increased innovation, and advancements in technology.
In addition, the survey found that employers are actively hiring — 39% of employers are planning to increase hiring in the next 6-12 months — not only to fill current needs, but also to scale up and innovate in the future.
Among the minority of talent respondents that expressed pessimism for 2023, 69% cite negative global economic conditions as the main reason for this outlook.
Post-pandemic shifts
Talent appears to be highly active this year, with 63% of respondents actively seeking a new job, largely out of a desire for higher pay, greater career advancement opportunities, or improved work-life balance. However, the survey also found that 40% of respondents last changed jobs over three years ago, possibly due to the need for stability during the pandemic years.
Among employers, a majority (62%) are actively recruiting, although this is down from 82% last year.
In terms of work environment, the findings indicate that the hybrid work model is here to stay, with 69% of talent respondents stating they are most productive under a hybrid model, and 82% of employers viewing hybrid as the new norm.
About RGF International Recruitment
RGF International Recruitment is the global brand of Recruit Group and provides total recruiting solutions of superior quality that advance the career opportunities of individuals at all levels. Through unrivaled service, dedication to the best recruitment solutions and a commitment to clients and candidates, RGF has grown rapidly to become one of the largest regional networks with a presence in 17 cities across Asia — driven by the aim of unleashing the potential of individuals and companies through consistently superior HR solutions.
For more information, market insights, and advice on career and talent search requirements, please visit www.india.rgf-professional.com.
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