Festive season to open up 50,000 temp jobs

The huge surge in credit card sales and personal finance is expected to generate an employment opportunity of 50,000 temporary jobs in the second half of this year.

With the festive season on the horizon, the BFSI (Banking, Financial Services, and Insurance) sector is already witnessing a surge in credit card sales, personal finance, and retail insurance driven by increased consumer spending, said TeamLease, a leading people supply chain company on Wednesday.

This increased activity is anticipated to generate about 50,000 temporary jobs in the second half of 2023, as BFSI firms are set to increase their workforce to meet the surge in finance products.

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The 15 per cent increase in job opportunities over the previous year reflects the sector’s upbeat outlook, it added.

The earnings for temporary workers in these roles have grown 7-10 per cent as compared to last year. Salaries for on-the-feet roles in Delhi, Mumbai, and Bangalore range between ₹20,000-22,000, while in Chennai, it is ₹18,000-20,000.

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Similarly, salaries for teleoperator roles in Delhi, Mumbai, and Bangalore range between ₹16,000-and ₹18,000, and in Chennai it was ₹15,000-17,000. This upward trend reflects the industry’s commitment to rewarding its employees and embracing the increased demand during the holiday shopping season.

Krishnendu Chatterjee, Vice President, TeamLease Services, said that in the past two months alone, there have been openings for nearly 25,000 temp staffing positions and this is expected to escalate in the upcoming months.

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While these opportunities were formerly concentrated in metropolitan areas, the expansion of e-commerce, retail lending, and insurance services across the nation have extended the demand to cities such as Ahmedabad, Surat, Nashik, and Kanpur, reflecting heightened economic activities in these regions, he said.

In the BFSI sector, the demand for temp workers during the festive season has gone up not only in tier-I cities but also in tier-II and tier-III cities such as Kochi, Vizag, Madurai, Lucknow, Chandigarh, Amritsar, Bhopal, and Raipur.

Earlier, metro cities used to drive the maximum number of temp positions in the BFSI sector. However, in the last 2-3 years, markets such as Kolkata, Pune, and Ahmedabad have also witnessed an equally large number of open positions for on-the-feet and teleoperators roles.