Flexi-staff numbers to double by 2021
With 3.3 million flexi staff in 2018, India had emerged as the fifth largest country with flexi-staffers.
Chennai: The flexi workforce in India is expected to almost double to 6.1 million by 2021.
With 3.3 million flexi staff in 2018, India had emerged as the fifth largest country with flexi-staffers. Around 1.2 million were added to flexi-workforce since 2015 as the space grew at a CAGR of 16.3 per cent till 2018.
This growth is expected to accelerate to 22.7 per cent between 2018 and 2021 and take the total number of flexi-staffers to 6.1 million by 2021, finds a report prepared by IMRB Kantar for Indian Staffing Federation.
"The higher CAGR for flexi-staffing in 2018-21 also spells good tidings for the space which truly is well on its way to emerge among the top 3-4 markets for flexi-staffing worldwide in couple of years," said R P Yadav, Vice President, ISF.
IT/ITeS leads adoption of flexi-staffing with 12.5 per cent penetration. Logistics, BFSI, IT/ITeS, retail and government will be the top five sectors employing over 55 per cent of total flexi workforce by 2021.
Further, formalisation of jobs has accelerated in recent times. GST and demonetisation were two key reforms to drive job formalisations in 2016-18.