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The staffing industry witnessed a 3.6 per cent growth in December quarter FY24 in comparison to July-September period, recording a robust demand for flexi (contract) workforce, ISF said in a statement.
The staffing industry grew at 16.4 per cent year-on-year in the period January-December 2023.
The rise in employment was particularly notable in key sectors such as e-commerce,
The report highlighted that as of December 2023, the total formal flexi workforce employed members of ISF reached 1.62 million.
The reported figures for new flexi jobs ISF represent the combined contribution of both General Flexi Staffing and IT Flexi Staffing industries.
General Flexi Staffing (i.e. excluding IT Flexi Staffing) contributed with new employment growth at 3.8 per cent quarter-on-quarter in Q3 FY24.
However, the IT staffing witnessed a decline from past quarters in Q3 at (-)0.4 per cent QoQ.
Lohit Bhatia, President, ISF said, the flexi staffing industry continued a double-digit new employment growth trend at 16.4 per cent YoY, reflecting its strong performance. The industry is currently at Rs 1.34 lakh crore.
ISF is the apex body representing flexi staffing companies, formed to provide a platform for recognized employment, work choice, even compensation, social security and health benefits for the temporary workforce; that constitutes a sizeable segment of India’s total workforce.