new developments in flexible positions and IT workforce

Synopsis

 

According to the Indian Staffing Federation's (ISF) annual report, the staffing business helps flexi-roles in India go from informal to formal employment. According to the report, staffing is anticipated to continue expanding year over year as the FMCG, e-commerce, manufacturing, healthcare, retail, logistics, banking, and energy sectors drive up demand, even though cautious growth in some sectors may occur in H2 2022–2023.

Even as the percentage of flex roles in the workforce rises, a staffing industry is supporting the conversion of these roles from unofficial to official employment.

The Indian Staffing Federation (ISF) estimates that 3.3 million organized contract workers in India are employed by temporary or contract staffing firms. The timely distribution of salary, wages, social security benefits, and health insurance is their responsibility.

The entire general staffing industry maintained its growth at 15.3% year over year during 2022–23, according to the ISF's annual report. Staffing is anticipated to maintain its double-digit growth on an annual basis due to demand from industries like FMCG, e-commerce, manufacturing, healthcare, retail, logistics, banking, and energy, even though it anticipates cautious growth in some sectors in the second half of the year.

Flexi-role demand in IT/ITES sectors
Flexi-roles can span a variety of domains, functions, and skill sets, but given the dynamic transformations we have witnessed in the technology industry, there is projected to be an increase in demand for flexi-roles in the IT/ITES sector.

 

However, since Q3 2022–23, new job growth in IT personnel has been gradually slowing, according to ISF data. The net employment increase of the staffing business as a whole during 2022–2023 was impacted by this. Global and macroeconomic headwinds, as well as the recent rightsizing and layoffs we have seen across organizations, were among the causes of this downturn.

The ISF anticipates needs for digital adoption throughout the remainder of the year.