Despite news of layoffs and anticipated global economic slowdown, the labour market is indicating positive sentiments in the quarter of 2023, finds a Manpower Group Employment Outlook Survey. Nearly half of the employers surveyed expect to increase their staffing levels, 13 per cent anticipate a decrease in hiring intent and 34 per cent do not anticipate any change, resulting in a seasonally adjusted Net Employment Outlook of +36 per cent. Net Employment Outlook is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location in the next quarter. There is a 6 percentage point growth in hiring when compared to the last quarter.

Employers in all four regions are expecting a strong pace when compared to last quarter. East has indicated the highest growth rate with +9 per cent followed closely by West (8 per cent), North and South with +6 per cent each when compared to the last quarter. Companies in the IT, Technology, Telecom, Communications and Media sector report hiring outlook of +47 per cent and +89 per cent of them are currently hiring for green jobs followed by Financials and Real Estate sector with +41 per cent outlook and +85 per cent focussed on green job hiring.

Banking veteran Ramakrishna Bhagavan joins Xpheno

Bengaluru-based specialist staffing firm Xpheno has announced the appointment of Ramakrishna Bhagavan, popularly known as ‘Ramki’, as its Chief Financial Officer. Ramki joins the leadership at Xpheno with 25 years of domestic and global experience in the Banking sector. 

For Xpheno which is looking at its next wave of growth from expansion into Germany, the UK and the US later this year, Ramki’s international exposure comes handy. Ramki is a banking industry veteran who has had business leadership roles at HSBC, ABN Amro, Kotak Mahindra, IDFC Bank and Mauritius bank. A consumer banking specialist and digital banking and fintech enthusiast, prior to joining Xpheno Ramki was engaged in advisory roles with fintech startups. “I’m looking forward to this journey with Xpheno to enable the international expansion and an eventual IPO,” said Ramk, adding that though staffing is a new industry to him, it has become akin to financial services. “I believe I can grow on the People, Processes, Technology, and Data orientation Xpheno has laid its foundation on,” he said.