“Private Banks face an elevated risk of attrition, especially with the entry of new players like Jio Financial Services, aggressively expanding their workforce to meet strategic goals."

"The demand for salespeople (selling personal, home, agriculture, and other loans) is huge."

“These partners are now directly working with banks and catering to the requirements. So, the need for main banks to hire is going down, and going to a third party also helps them in many ways.”

The annual attrition in frontline roles could be as high as 120% where the entire workforce is getting churned on a rolling 12-month basis.

We are poised for a dynamic job market over the next 5-6 months. Since last month, we have witnessed nearly 25,000 job openings for temporary staffers, and we anticipate these numbers to grow to over 50,000 in the second half of this year

"While the focus is on speedy deployment, frontline staff needs to undergo more training to enhance productivity."

The funding winter has adversely affected the startup and e-commerce ecosystem, while the fear of a global recession is prompting information technology companies to stay away from active recruitments.

Productivity isn’t everything, but in the long-run it is almost everything,” said Paul Krugman in his book ‘The Age of Diminished Expectations’

However, it is difficult to measure the quantum of the impact as no such trends have emerged. India today is a critical technology centre for Microsoft, so a lot of key employees are based in the country.”

“Overall 68% hiring intent is viable in large enterprises. Hiring intent in manufacturing sector for Q4 clocked at 60%, a 3% increase from last quarter."