The demand for temporary workers during the festive season has shown a consistent rise not only in tier 1 cities, but also in tier 2 and tier 3 cities. (Representative image)
The demand for credit cards, personal loans, and insurance products is projected to gain momentum.
With the festive season on the horizon, the BFSI (Banking, Financial Services, and Insurance) sector is already witnessing a remarkable surge in credit card sales, personal finance, retail insurance driven by increased consumer spending and confidence in the economy. This increased activity is anticipated to generate approximately 50,000 temporary jobs in the second half of 2023, said TeamLease in a new assessment, as BFSI firms are set to increase their workforce to meet the surge in finance products.
It added that the 15% increase in job opportunities over the previous year reflects the sector’s upbeat outlook and proactive approach to meeting consumers’ growing demands.
Top demanding cities
From the BFSI sector’s perspective, the demand for temporary workers during the festive season has shown a consistent rise not only in tier -1 cities like Ahmedabad, Pune, Bangalore, Kolkata but also in tier-2 and tier-3 cities such as Kochi, Vizag, Madurai, Lucknow, Chandigarh, Amritsar, Bhopal, Raipur.
Earlier metro cities like Delhi, Mumbai, Chennai and Bangalore used to drive maximum temporary positions in the BFSI sector, however, in the last 2-3 years markets like Kolkata, Pune and Ahmedabad have also witnessed equally large numbers of open positions for on-the-feet and tele-operators roles.
Krishnendu Chatterjee, VP and business head – BFSI, TeamLease Services, said, “As credit card transactions surge, personal finance applications proliferate, and India’s digital payment landscape flourishes, we are poised for a dynamic job market over the next 5-6 months. In the past two months alone, we have witnessed an influx of nearly 25,000 job openings for temporary staffing positions and we anticipate these numbers to escalate in the upcoming months.”
Alongside the e-commerce industry, the BFSI sector is actively ramping up its recruitment efforts to cater to the heightened consumer activity during this celebratory period ensuring seamless operations and top-tier services.
Earnings
TeamLease said that earnings for temporary workers in these roles have grown 7-10% as compared to last year. Package for On-the-feet roles in Delhi range between Rs 20-22k, Kolkata Rs 16-18k, Mumbai Rs 20-22k, Chennai Rs 18-20k and Bangalore Rs 20-22k.
Similarly for tele-operators roles in Delhi range between 16-18k, Kolkata 13-15k, Mumbai Rs 16-18k, Chennai Rs 15-17k and Bangalore Rs 16-18k. This upward trend reflects the industry’s commitment to rewarding its employees and embracing the increased demand during the holiday shopping season.
“There is no doubt that these dynamic candidates will play a crucial role in ensuring seamless operations and delivering exceptional customer experiences during this crucial time of year. Having their expertise in time management and delivering a high level of customer service will enable them to deal with the surge in credit card applications and sales, personal loans thereby contributing to the success of the company and ensuring customer satisfaction,” added Chatterjee.
Anticipating a buoyant festive season for sectors like e-commerce, retail, consumer electronics, automobiles, and smartphones, the demand for credit cards, personal loans, and insurance products is projected to gain momentum, the report added.
