Four percent decline in recruitment of companies in March: Report
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Mumbai Recruitment by Indian companies in the month of March declined by four percent compared to the same period last year. This assessment has been presented in a report released on Tuesday. However, recruitment activities increased by three percent in the month of March compared to February. The report of FoundIt Insights Tracker (FIT) says that this figure reflects the optimistic business sentiment of the corporate world.
The report, prepared by analyzing recruitment data from March 2023 to March 2024, shows that professionals providing temporary services to clients or doing freelance work saw a growth of 184 per cent compared to a year ago. The report says this reflects professionals’ growing preference for flexible, project-based work arrangements. Such professionals include independent lawyers, teachers, accountants, management consultants and people associated with other professions. Additionally, the proportion of temporary workers, who constitute a significant share of the workforce, has increased by 21 percent during the same period.
This shows the increasing reliance of companies on freelancers and independent contractors to meet business needs. According to the report, the information technology (IT) sector is at the forefront of the ‘gig economy’ based on temporary workers who get paid on the basis of work. The share of IT software in the gig economy has almost doubled, from 22 percent in March, 2023 to 46 percent in March, 2024. “Through our tracker, we have seen that metros of Delhi, Bengaluru and Mumbai are now paving the way for gig jobs,” said Shekhar Garissa, CEO, FoundIt (formerly Monster).
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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