Flexi staffing industry witnesses 14% of growth in new jobs in FY23

Flexi staffing industry logged 14 per cent growth in new jobs in the country in 2022-23, Indian Flexi Staffing Federation (IFS) said on Tuesday

Press Trust of India New Delhi
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Flexi staffing industry logged 14 per cent growth in new jobs in the country in 2022-23, Indian Flexi Staffing Federation (IFS) said on Tuesday.

Members of the industry body ISF collectively added 1.77 lakh new flexi jobs in FY23, driven by the surge in employment particularly in key sectors such as e-commerce, logistics, manufacturing, tourism and hospitality, FMCG, consumer durables, and healthcare, a statement said.

Women's participation in the flexi workforce continued to account for 24 per cent in FY'2023.

These findings were unveiled in the ISF's Annual Flexi Staffing Industry Employment Trend Report -2023, which was released on Tuesday.

The reported figures for new flexi jobs by the Indian Staffing Federation represent the combined contribution of both General Flexi Staffing and IT Flexi Staffing industries. The report highlighted that as of March 2023, the total flexi workforce employed by members of the Indian Staffing Federation reached 14.4 lakh.

General Flexi Staffing (i.e. excluding IT Flexi Staffing) observed robust growth of 15.3 per cent in new flexi jobs during FY23, adding 1.47 lakh new flexi jobs across general staffing roles.

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However, the IT Flexi Staffing segment experienced a decline of 7.7 per cent year-on-year in new flexi jobs by the end of the last fiscal year.

During the final (March) quarter of the fiscal year (2022-23), new flexi jobs witnessed a growth of 0.4 per cent quarter-on-quarter.

The demand for employment in General Flexi Staffing was primarily generated by sectors such as FMCG, E-commerce, Manufacturing, Healthcare, Retail, Logistics, Banking, and Energy. Conversely, IT Flexi Staffing observed a decline of 6 per cent quarter-on-quarter in the same period.

The drop in new employment generation within the IT Flexi Staffing sector mirrored the global slowdown in IT hiring and the ongoing process of employment right-sizing across markets.

FY'2023 witnessed the staffing industry continue to play a pivotal role in providing freshers and first-time job market entrants with their initial formal employment opportunities.

Lohit Bhatia, President, ISF said in the statement, "The remarkable 14 per cent growth in new flexi jobs signifies that the worst of the pandemic is now behind us".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 23 2023 | 4:34 PM IST

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