While recessionary concerns and layoffs continue to make headlines, the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey of nearly 3,020 employers, findstheir appetite for hiring continues in the second quarter of 2023. The optimism remains despite organizations struggling to activate their hiring plans with talent shortages at 80%. When compared to last year, the talent supply with the requisite skills depicted in the sliding shift of employers experiencing Talent Shortage by 3%.
Hiring intentions remain lower than last quarter, while employers continue to struggle to find the right skills. IT & Data (37%), Sales &Marketing (30%), and Engineering (29%) are the most sought-after technical skills, while Creativity & Originality (37%), Critical Thinking & Analysis (35%), Leadership and Social Influence (32%), Reasoning & Problem-solving (30%), Active Learning &Curiosity (30%), Reliability & Self-discipline (29%), and are the top-desired soft skills. Employers in India anticipate a stable hiring Outlook in Q2, with a Net Employment Outlook of +30%.
The most optimistic outlooks are reported by employers in IT, Finance/Real Estate and Industrials & Materials. India’s talent shortage indicates a downward trend. Manpower Group’s India and Middle East Managing Director Sandeep Gulati said “The Indian Government’s aggressive investment in Infrastructure and efforts towards ease of doing business in India by improving the connectivity between states is positively impacting the employment outlook”.