In India, the staffing market has expanded significantly, especially in the area of third-party payroll services. It is anticipated to grow from a 4% growth in FY 2019 to an 18% growth in CY 2023.
New job prospects have been made possible by the government's increased investment in infrastructure, e-commerce, programmes like "Made in India," and the growth of start-ups. Government regulations, demographic shifts, Industry 4.0, and globalisation are the primary factors affecting the employment landscape.
These factors are anticipated to have a significant impact on sectors including BFSI, automotive, pharma, and IT. Due to the lack of individuals with these updated skill sets and professional attitudes in the personnel pool and the abundance of opportunities presented by new digital advances, businesses are actively seeking them out.
