In the last four months, the FMCG arm of Reliance Retail Ventures has announced entries into soft drinks with the Campa and Sosyo Hajoori brands it had acquired; beauty soaps with Glimmer; and natural and hygiene categories under Get Real and Puric brand names, Dozo dishwash bars and liquids, HomeGuard toilet and floor cleaners, and Enzo laundry detergent powder, liquid and bars.
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According to the survey, which covered over 800 small, medium and large companies in 14 industries, 64% of the firms plan to increase their manpower resource pool in Q1 of FY24, down from 68% in Q4 FY23 as companies turn more cautious about their hiring plans.
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Companies like Hero Electric, MG Motor, Simple Energy and Yulu Bikes are looking to hire employees for specialised profiles, such as EV technicians, battery recycling experts, software developers, as well as for manufacturing and engineering. On the agenda is not just hiring laterally, but also building up fresh talent through partnerships with educational institutions.
These senior exits come at a time when the Mumbai-based company's stock, like other new-age firms, has faced a rout in the past few months on the bourses. The stock is down nearly 28% since it issued bonus shares on November 16 last year.
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The talent pool is sparse as most of these profiles are new, human resources (HR) heads and executives at recruitment and staffing firms, including Randstad, Manpower, TeamLease and foundit (formerly Monster), told ET.
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"Despite rising concerns at a macroeconomic level, there is a rise in hiring freshers as well as enabling a diverse and inclusive workplace. In February, there was a marginal growth of 1 per cent in e-recruitment space compared to same month last year. The tech industry, despite a few setbacks, remains the single largest employer of fresh talent and women," foundit, a Quess company, CEO Sekhar Garisa said.
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"The government's aggressive investment in infrastructure and efforts towards ease of doing business by improving the connectivity between states is positively impacting the employment outlook," ManpowerGroup's India and Middle East Managing Director Sandeep Gulati said. Investment in upskilling, reskilling and a focus on preparing people for tomorrow's jobs should be the top priority of the management, he added.
About 45% of Indian employers covered in the latest ManpowerGroup Employment Outlook Survey said they would hire more people in the coming quarter. While 15% of the employers expect a decrease in hiring intent or have no plans to backfill, 37% plan to keep workforce levels steady and 3% were unsure about hiring intentions, according to the findings that were shared exclusively with ET.
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