Flexi staffing industry rose 15% in FY24: Indian Staffing Federation

The Indian Staffing Federation (ISF) has released its latest annual employment report, highlighting the growth within the flexible (Flexi) staffing industry. According to the report, fresh employment generation in the flexi staffing industry grew by 15.3% year-over-year during FY24. The total flexi workforce employed by ISF members increased by 220,000, reaching 1.6 million. FMCG, e-commerce, manufacturing, healthcare, retail, logistics, banking, and energy sectors primarily drove this employment demand.

The report also noted that the general staffing industry registered a growth of 16.2%, while the employment in IT staffing contracted by 4.4% during the fiscal year. The IT staffing industry witnessed a gradual recovery in demand, with companies focusing on enhancing productivity to address market pressures. The report highlighted the significant social impact of the staffing industry, particularly in providing freshers and first-time job market entrants with their initial formal employment opportunities. The industry's efforts have facilitated the transition from informal to formal employment, offering social security, employment mobilization, and relevant skills development programs. Additionally, the staffing industry has ensured wage protection for these newcomers, ensuring fair remuneration for their work. It has also led to improved participation of women in the workforce.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.