Two of India's largest staffing firms, say their double-digit revenue growth will continue in the ongoing fiscal year after Quess Corp and Teamlease posted record numbers in their recently concluded financial year, reports The Economic Times (paywall). “The revenue growth is sustainable as we have not seen any slowdown so far in the April-June quarter. We are 30% higher in terms of open mandates compared to the same period last year," Guruprasad Srinivasan, chief executive of Quess Corp told the Economic Times. “The 'great resignation' definitely contributes to our growth. Quess' selection business under the workforce management vertical now clocks business worth usually done in a year within just a quarter.”

Ramani Dathi, chief financial officer of Teamlease Services, added, “Staffing model aids like a springboard in good times and shock absorber in bad times. Higher attrition or shorter tenure makes companies outsource such jobs to staffing players that can handle the volume and rigour of continuous hiring. We had our highest-ever headcount addition of close to 57,000 in FY22, with great attrition as one of the reasons. Our previous highest ever addition in a year was 32,000." Banking, financial services, manufacturing, consumer, and telecom are expected to give Teamlease the maximum growth in FY23.

SIA recently published its Largest Staffing Firms in India list which can be found here. Quess and Teamlease ranked first and second, respectively.