In recent years, the growth in e-commerce, quick commerce and logistics among other sectors has driven a lot of demand for flexible jobs. According to the Indian Staffing Federation (ISF), the flexi staffing industry grew more than 15 per cent in the 2023-24 financial year.
"The market witnessed a significant improvement across most sectors. This consistent progress underscores the industry's vital role in driving employment and economic stability in India," said Lohit Bhatia, president of ISF.
ISF said fast-moving consumer goods, e-commerce, manufacturing, healthcare, retail, logistics, banking, and energy were among the key sectors that contributed to this growth in flexi staffing.
"Indian Staffing Federation marked a milestone with its members collectively employing over 16.6 lakh workers, adding 2.20 lakh new formal flexi workforce positions since March 2023," noted Suchita Dutta, executive director of ISF.
Despite the strong growth, Dutta noted that the flexi staffing industry is grappling with 30 per cent unfilled jobs, "largely due to lack of talent mobility and skill-match with demand."
Demand also remained sluggish in the IT services industry, which has been hurt by slowing discretionary spending by clients in its major markets. ISF noted that the IT industry saw a 4.4 per cent decline in new flexi jobs year-on-year. But, even here signs of stability may be emerging feels ISF as the fourth quarter only saw a marginal decline of 1.1 per cent sequentially.
Manmeet Singh, vice-president at ISF noted that while the de-growth had been significant, the IT industry was starting to recover, showing promise for the coming quarters.
"GCCs (Global Capability Centres) are adding to the employment growth while others are still picking up in demand," he said.
