India Staffing and Recruitment Market: Key Insights

According to our latest market study on "India Staffing and Recruitment Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Staffing Type, Recruitment Channel, and End User," the market was valued at US$ 18061.42 million in 2022 and is projected to reach US$ 48530.94 million by 2030; it is expected to grow at a CAGR of 13.2% during 2022–2030.

Hybrid recruitment is a process that combines traditional recruitment methods with modern technology and techniques. Hybrid recruiting allows organizations to maximize the benefits of both in-person and virtual hiring techniques. Hybrid recruitment encompasses the full range of recruitment, including placing job ads for sourcing candidates, selection, collecting candidate feedback, and communicating with team members. Over the past two years, there has been significant growth in the hybrid recruitment and staffing processes across India. These processes allow employers to remain flexible and help curb exposure to business risk. A hybrid recruiting model offers all the benefits of virtual recruiting, such as better candidate experience, reduced costs, improved hiring speed, location independence, and convenience. 

Face-to-face recruiting, with virtual recruiting strategies, offers a way for employers to enhance the candidate’s experience. Many companies in India have already adopted hybrid hiring processes, but the emergence of the COVID-19 pandemic rapidly accelerated the need for safe and efficient hiring models in India. The pandemic has led to greater adoption of virtual hiring strategies. Also, a hybrid hiring approach allows employers to leverage the advantages of virtual recruiting and simultaneously use in-person methods to add value to the candidate experience. Hybrid staffing and recruitment strategies allow employers to maximize the benefits of in-person and virtual hiring techniques.

The COVID-19 outbreak has led to drastic changes and inspired new ways to structure and rethink employment in various fields. As more and more companies offer remote work options, the demand for skilled remote workers is increasing. To fulfill this demand, staffing and recruitment agencies help companies find and hire the best talent, regardless of their location. According to a recent global study by Avaya, Life and Work Beyond 2020, 77% of Indian employees prefer a hybrid work model because they believe it will improve their mental well-being. Additionally, 74% of employees would support government policies that promote hybrid work.

As of May 2021, the Indian government has removed all the restrictions that were preventing BPO and IT-enabled services companies from allowing their employees to work from home. This means that these companies can now permanently offer remote work options to their employees. Further, several companies in India are asking employees to work remotely. According to survey of 500 organizations and 5,000 employees around the world done by Capgemini, 75% of businesses expect at least 30% of their employees to work distantly, while over 30% expect 70% of their staff to become remote, many organizations found that remote work enhanced productivity and cost savings up to 24% in Q3 2020. Thus, the growing preference for online or remote working modes is likely to create lucrative opportunities for the growth of the staffing and recruitment market in India during the forecast period.

Moreover, AI helps find the best-fit candidate by matching an applicant’s capability and skills with the job description. The recruitment chatbot is another AI technology that offers job seekers real-time updates and 24/7 interaction. It lets them ask questions about job requirements or recruitment timelines while providing helpful feedback and suggestions. Further, AI-based video interview software helps assess a candidate’s speech patterns, word choices, and facial expressions to check if the candidate is the right fit for the position. For instance, Brother International Corporation adopted an AI-powered Intelligent Talent Experience platform to attract, engage, and convert more job explorers with industry-leading AI technology. The platform integrates with the company’s Workday Recruiting ATS to provide candidates with a smooth application experience. In addition, the platform also helps the company manage content and easily make edits to their career site without the help of IT technicians or coders from a third-party agency. AI and automation have revolutionized the entire recruitment process. Thus, the rise in automation and AI-driven recruitment is expected to fuel the staffing and recruitment market growth in India in the coming years.

India Staffing and Recruitment Market: Segmental Overview

Based on type, the India staffing and recruitment market size is bifurcated as temporary, and permanent

The temporary segment held the largest staffing and recruitment market share in 2022, whereas the permanent segment is anticipated to register the highest CAGR in the India staffing and recruitment market during the forecast period. Based on recruitment channel, the India staffing and recruitment market is segmented as online, hybrid, and offline.

The online segment held a larger staffing and recruitment market share in 2022, and it is anticipated to register a higher CAGR in the staffing and recruitment market during the forecast period.

Based on end user, the India staffing and recruitment market is segmented as IT and Telecom, BFSI, health care, real estate and others. The IT and Telecom segment held the largest share of the India staffing and recruitment market in 2022. The instant BFSI segment is anticipated to register the highest CAGR in the India staffing and recruitment market during the forecast period.

India Staffing And Recruitment Market Analysis: Competitive Landscape and Key Developments

Quess Corp Limited, TeamLease Services Limited, BigLeap Technologies & Solutions Private Limited, GlobalHunt India Private Limited, Careernet Technologies Pvt. Ltd, ABC Consultants, Innovsource Services Pvt. Ltd, PeopleStrong Technologies Pvt Ltd., Uplers Solutions Private Limited, and Focuse Management Consultants are among the key India staffing and recruitment market players profiled in the report. Several other essential India staffing and recruitment market players were analyzed to get a holistic view of the market and its ecosystem.

• In 2023, PwC India has announced an investment of 600 crore rupees over the next three years for the learning, development, and well-being of its workforce. This enables employees to gain access to personalized opportunities.
• In 2023, Adecco India collaborated with Jagriti Sewa Sansthan to encourage young talents towards rural entrepreneurship. The collaboration helped Adecco India to promote a training program that focuses on skills development in Purvanchal.

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