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India’s flexi-staffing industry grows 16.4% in Q3

09 April 2024

India’s overall “flexi-staffing” industry continued a double digit employment growth trend at 16.4% year-on-year in the third quarter (October to December 2023), according to a report by the Indian Staffing Federation.

The Q3 report depicts a dynamic and resilient staffing industry, adapting to challenges posed by the global pandemic.

The report noted that general staffing maintained demand across a broad spectrum of roles.

ISF’s report also highlights the increasing popularity of staffing work arrangements. Employers are turning to contingent workers to address skill gaps and meet fluctuating demands. This shift to a more flexible workforce has significant implications for the future of work and the employer-employee relationship, the report added.

The flexi-staffing Industry came back with quarter-on-quarter growth at 3.6% in Q3.

Further data showed the general flexi staffing industry saw new employment growth at 17.7% over the year, whereas it maintained quarterly growth at 3.8% in Q3 2023-24.

Year-on-year data for flexi-staffing showed good demand growth from across sectors, supported in new employment growth in Q324. The most significant contributions were from retail, ecommerce, logistics, hospitality, tourism, aviation, FCMG (fast-moving consumer goods) & CD (consumer durables) sectors.

Staffing members of ISF added 188,000 new formal workforce in 2023-24 (year-on-year) in the last four quarters.

ISF Members represent 1.62 million of the formal flexi workforce Q3 2024.

Meanwhile, the report showed ISF members added 191,000 in its workforce across general staffing roles year-on-year. It also noted that it added 47,000 over the quarter.