Indian Staffing Federation Unveils First Ever, Annual Research Report -“Annual Flexi Staffing Employment Trends: 2021”

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Summary

In a challenging year, Indian Staffing industry ends the FY 2021 with a modest 3.6% growth over March20

Press Release

the apex body that represents the staffing companies in India, unveiled their first ever flexi staffing employment trends in an annual report titled ‘Annual Flexi Staffing Employment Trends Report: 2021’. The report, prepared by ISF, is based on the primary research of over 100 staffing members across the country in a span of 60 days. The survey covers the various dimensions of employment across top 15 sectors including- IT/ITeS, Telecom, Banking, Retail, E-Commerce, FMCG & CD, Manufacturing, Pharma and Healthcare, Insurance, Edutech, Logistics Transport to assess and present a holistic view of the flexi staffing industry during the pandemic in its report findings.

 

The report for the first time throws light on the resilience of the temp industry in India, the new opportunities and trends that were observed during the pandemic and the promising sectors that would redefine the future course of temp staffing in India in the coming years.

 

Notable findings of the report include:

  • Despite the challenging year, Indian Staffing industry ends the FY 2021 with a modest 3.6% growth over Mar’20.  
  • Q4FY21 ending showed a massive recovery, crossing 1.03 million flexi staff deployed across industries through members of ISF 
  • ISF members saw a minimal decline in Q121 (-7%) followed by a sharp rise  Q221 onwards indicating corporate India recovery and staffing companies agility towards Covid proof sectors 
  • Flexi workers employed in Y21 were +21% with higher education; +11% with higher skills than Y20
  • In 2021 +31% growth in flexi work compared to other formats of employment
  • An overall net addition of 157,000 more people added to flexi workforce, compared from 2019
  • Women participation in Flexi workforce grew +6% during Covid during the period
  • The top 5 sectors to drive temp demand: Healthcare, IT & ITeS, Pharma, Edutech and Ecommerce.
  • Healthcare, IT & ITeS, Pharma, Edutech and Ecommerce are expected to lead employment growth by above 35% in the upcoming Qtrs
  • Temp staffing growth were witnessed in IT staffing, E-com, Logistics, Manufacturing despite the pandemic impact. 
  • Employment sentiments findings state that IT & ITeS will be driven by digital integration and investment in expedited automation processes as Tech firms bets big on campus and entry level talent especially in the temp role, thereby driving positive future prospects for freshers. 
  • For Edu-tech sector, with the new age pedagogic adoption and shift to digital solutions and collaborative platforms, growth drivers would move beyond K12 to include skill development and learning management systems, etching temp manpower requirement considerably. 
  • Temp demand in Healthcare and Pharma will be driven by the preparation for better response management system for 3rd wave of Covid and the R&D investment into manufacturing of vaccines and associated OTC drugs.