Flexi-staffing industry dodges Omicron fears, maintains 21.5% growth in Q3: ISF report

Flexi-staffing industry dodges Omicron fears, maintains 21.5% growth in Q3: ISF report

(PTI): Flexi-staffing industry has dodged Omicron fears and grew by 21.5 per cent in the third quarter of FY2022 compared to the year-ago period, a report by the Indian Staffing Federation (ISF) said.

The IT and ITeS, e-commerce, retail, logistics, and hospitals were among the top hiring sectors in Q3 FY22, the report said. Flexi-staffing refers to temporary hiring of workers for a fixed period or until the completion of a project The ISF staffing members’ net headcount grew at 21.5 per cent YoY, indicating the consistent demand in employment across sectors notwithstanding the third pandemic wave, the report said.

The ISF members provided employment to 40,000 fresh jobseekers QoQ (quarter on quarter) whilst providing formal employment to 2.11 lakh fresh jobseekers YoY, in spite of the pandemic linked challenges – over the last four quarters, from January to December 2021.

Lohit Bhatia, President, Indian Staffing Federation said: “ISF member companies today represent 1.19 million flexi staffing workforce in India…ISF members continued to provide employment to 2.11 lakh fresh jobseekers YoY, withstanding challenges from the second wave and the beginning of the Omicron wave, bringing more and more people into the formal employment space.” Suchita Dutta, Executive Director, Indian Staffing Federation said: “Continuing with a consistent 21-23% YoY growth for staffing industry is by far the best year witnessed, even compared to pre-pandemic.” Over the years, from the pre-pandemic era to the dynamic current period, the Indian flexi staffing sector has been the largest employment mobilisers in India.

The social security and employment protection from staffing companies provide impetus to formal employment growth, impacting greater protection for companies as well as workers across industries.

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.

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