“This further strengthens Quess Corp’s position as India’s largest staffing company. It places India among the top four countries globally alongside the US, Japan, and the European Union to achieve this feat for a single staffing company,” said Lohit Bhatia, President Workforce Management, Quess Corp.
The growth has been fueled by increasing demand across diverse sectors, including Industrial, FMCG, Retail, and BFSI (Banking, Financial Services, and Insurance).
“Recent trends also indicate that rural demand has significantly lifted the FMCG sector, which saw a 5.7% growth in the July-September period, as per NielsenIQ data.”
The industrial sector recorded a year-on-year growth of 23%, retail grew 16%, BFSI was up 14%, telecom grew 56%, while consumer goods and consumer durables sector was up by 12%.
There is also an increasing demand for women in sectors such as electronics and manufacturing, said Nitin Dave, CEO – general staffing at Quess. “Women are preferred by companies as their productivity is found to be higher than many of their male counterparts due to lower absenteeism, higher retention and more efficiency. That apart, companies also are in need to widen their talent pool due to a wide demand supply mismatch of skills.”Bhatia added that about 88,000 people were added to UAN (needed for availing online services of EPFO) in the last six months, indicating that these people came for the first time into formal employment.
An increasing demand for manpower coming in from Tier 3, Tier 4 and beyond is largely driven by sectors such as retail, telecom and electronics. “Tier 3 and beyond towns accounted for 41% growth in demand compared with 30% in Metros and 29% in Tier 2 cities,” said Bhatia.