Inflation won’t change the way companies hire and pay workers: report

Despite the fear of getting up inflation worldwide, Indian job seekers are not adversely affected in terms of their livelihoods and expenses, with six in 10 job seekers saying they have not been affected much, a new report found on Thursday.



Nearly 89 percent of employers also think inflation will not change the way businesses hiring and paying employees, according to the quarterly report from the leading job site Indeed.

The Indian job market saw a 29 percent increase in the April-June period (compared to a 20 percent increase in the previous quarter).

In addition, 37 percent of all job seekers looked for a job or a job change in the quarter, compared to 46 percent in the previous quarter.

“Industries like IT, healthcare, e-commerce will continue to grow and with the advent of 5Gwe will also see a strong increase in telecom jobs in the coming quarters,” said Sashi Kumar, Head of Sales, Indeed India.

In response to inflation, employers looked at various forms of engagement during the quarter that could help them manage candidate expectations, as well as costs such as full-time, part-time, gig or contract work.

Job seekers continue to prefer full-time work (63 percent) over part-time work (26 percent) or job/contract work (11 percent).

On the employer side, however, the difference is less disproportionate: More than 19 percent of employers hire gig workers during the quarter, the report said.

With a 10 percent salary increase that 41 percent of employers plan to foresee to account for inflation, a sizable 25 percent of job seekers seem to agree.

One in three job seekers in the IT/ITeS sector (33 percent) want a 20 percent increase to offset inflation.

IT/ITeS continued to lead across all sectors, with 91 percent of industry employers employed during the quarter (83 percent in the previous quarter).

Metros dominated recruitment in cities with recruitment activity in Bengaluru, Mumbai and Chennai, showed strong growth in recruitment compared to other cities. Chandigarh showed a substantial increase in hiring during the quarter.

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