As we gear up for Raksha Bandhan, Onam, Ganesh Chathurthi, Durga Puja, Diwali, Christmas, and the New Year, businesses across various industries are preparing for a surge in temporary employment.
The festive season in India is more than just a time for celebrations; it’s also a period of economic vibrancy and opportunity.
This year, the festive season is expected to generate a whopping 600,000-700,000 temporary jobs, with a remarkable 15-20% increase in demand for such positions compared to last year.
Drivers of Temporary Employment Surge
Several factors contribute to this surge in temporary employment:
Consumer Spending: After a period of cautious spending during the harsh summer months and the lengthy election process, consumers are now ready to loosen their purse strings.
Companies anticipate increased demand for consumer durables, goods, and luxury items during the festive period, necessitating additional hands on deck.
Rural Economy Resurgence: Favorable harvest prospects have breathed new life into rural India. As agricultural activities pick up, demand for temporary workers in supply chain operations, logistics, and manufacturing is on the rise.
Buoyant Stock Market: A robust stock market performance has bolstered investor confidence and corporate optimism. Companies are gearing up for increased business activity, leading to higher demand for temporary staff.
“We are still in the early stages but there’s already been a considerable rise in festive demand,” said Lohit Bhatia, president, workforce management, Quess Corp.
We are expecting to see some 600,000- 700,000 temp jobs being created across sectors this year,” he added.
Lohit stated, “Consumer durables/goods companies will put out new products, new schemes; banks/NBFCs (non-banking finance companies) will push loans, credit cards; luxury consumption will go up, as will e-commerce sales.”
“All these require many more hands onboard during the festive period,” he said.
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Industry-Specific Insights on Employment
While the surge in temporary hiring is widespread, certain sectors are poised for even greater growth:
E-commerce and Logistics: These sectors are expected to witness the highest jump, with a projected increase of 30-35% in temporary hiring. As online shopping continues to thrive, companies need additional manpower to handle order fulfillment, delivery, and customer service.
Consumer, Banking, Financial Services, and Insurance (BFSI): These industries are also actively hiring temporary staff. Banks and non-banking finance companies (NBFCs) will push loans and credit cards, while consumer goods companies will launch new products and schemes.
Retail and Hospitality: With footfall increasing in malls, retail outlets, and restaurants during the festive season, these sectors are gearing up for additional staff to manage operations efficiently.
Small Cities in Need of More Hands
Companies are not only focusing on major metropolitan areas but also looking to smaller cities. The demand for temporary jobs is expected to be particularly strong in these regions, where local festivals and celebrations drive economic activity.
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