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Thursday, 18 April 2024
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India Staffing and Recruitment Market is expected to reach US$ 48,530.94 million by 2030

India Staffing and Recruitment Market is growing at a CAGR of 13.2% to reach US$ 48.53 billion by 2030 from US$ 18.06 billion in 2022 by Staffing Type, Recruitment Channel, and End User.

By The Insight Partners

Increasing Youth Population Opportunities for Staffing and Recruitment Market During 2022–2030

According to our latest market study on "India Staffing and Recruitment Market Size and Forecasts (2020–2030), Global and Country Share, Trends, and Growth Opportunity Analysis – by Staffing Type, Recruitment Channel, and End User," the India staffing and recruitment market was valued at US$ 18,061.42 million in 2022 and is projected to reach US$ 48,530.94 million by 2030; it is expected to grow at a CAGR of 13.2% from 2022 to 2030.

According to The International Labor Organization, two-thirds of India's population, or over 808 million people, are under the age of 35, making it the country with the largest young population in the world, out of which millennials and Gen Z aged between 18 and 35 account for 600 million people. The significant growth in the youth population boosts the need for renewed efforts and investments to create new jobs. The population creates a huge pool of potential job candidates, which increases the requirement for skilled staffing and recruitment professionals resulting into the growth the India staffing and recruitment market share.

India Staffing and Recruitment Market Overview

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00030063

Moreover, in 2022, India's youth unemployment rate was 23.22%; it registered drop of 0.67% from 2021. With the rise in the youth population in the country, various organizations are planning to hire them. For instance, as of July 2023, according to a top official of the Telecom Sector Skill Council, ~1.26 lakh youth trained in telecom technologies will be employed in the current fiscal year 2023. Thus, the increasing youth population in the country is likely to generate the need for new jobs, which is expected to provide lucrative opportunities for the staffing and recruitment market growth in India during the forecast period.

Quess Corp Limited, TeamLease Services Limited, BigLeap Technologies & Solutions Private Limited, GlobalHunt India Private Limited, Careernet Technologies Pvt. Ltd, ABC Consultants, Innovsource Services Pvt. Ltd, PeopleStrong Technologies Pvt Ltd., Uplers Solutions Private Limited, and Focuse Management Consultants are among the key players operating in the staffing and recruitment market players that were profiled in the report. Several other major India staffing and recruitment market players were studied and analyzed during this India staffing and recruitment market research study to get a holistic view of the India staffing and recruitment market and its ecosystem. The staffing and recruitment market report provides detailed India staffing and recruitment market insights, which help the key players strategize their growth.

The offline recruitment channel collects and manages job requirements and does not rely on online communication tools. A few advantages of offline recruitment channels are improved clarity and better staffing by organizing in-person interview rounds. Offline recruitment channels, such as job fairs, are highly effective in boosting the hiring process. Physical events and fairs organized by universities or corporate agencies enable recruiters to meet potential candidates in person. Face-to-face interaction improves engagement and builds a good relationship between job seekers and employers. Offline recruitment is particularly beneficial for targeting candidates for localized hiring in specific geographies. Many organizations and institutions in India are still using offline staffing and recruitment processes to hire candidates. For instance, in 2023, the Wildlife Institute of India invited offline forms to recruit for various positions, including multi-tasking staff (MTS) and assistant technical. The offline hiring process helps employers by providing in-person collaboration with colleagues. Also, companies operating in the healthcare and pharma industries and the public sector have been widely using offline hiring processes to select the right candidate from the pool.

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