Case Study: A multinational electrical equipment manufacturer specialising in home appliances, LED lighting, fans, modular switches, and more faced challenges in productivity, product knowledge, and learning and development programs among its large sales associate base. A comprehensive training solution was implemented to address these issues, featuring a structured pre-hiring assessment tool, a 100:1 trainer-to-associate ratio, and targeted training programs covering product knowledge, learning modules, and behavioural skills. Baseline assessments, pre-post training evaluations, and quarterly gamified assessments ensured consistent progress monitoring and knowledge retention. This structured approach led to a 30% increase in sales through enhanced product knowledge and targeted strategies, while employee engagement initiatives reduced attrition rates by 5%. A controlled learning environment was established, fostering skill development and long-term productivity improvements.

3. Designing Attractive Incentive Models

A robust incentive structure can drive performance and retain top talent within the contract workforce. Examples include:

• Performance-based bonuses offer monetary rewards tied to sales targets.
• Recognition and Rewards acknowledge high-performing workers through certificates, awards, and career advancement opportunities.
• Align incentives with roles, such as on-ground promoters earning commissions for lead generation, while backend sales support workers earn bonuses for efficiency.

Case Study: A consumer durables client faced significant challenges with high attrition rates among salaried associates and Direct Commission Agent (DCA) sales teams, struggling to retain top-performing staff due to insufficient incentives and career development opportunities. To address this, an innovative incentive program was implemented, featuring 7-8 targeted schemes, including Full Attendance Incentives, Wearables Incentives, New Launch Mobile Sales bonuses, Old Mobile Clearance rewards, Festive Season Incentives, Pre-launch Booking Targets, and tailored schemes for Large Format Retail (LFR) and General Trade (GT). High-performing employees earned substantial incentives ranging from ₹50,000 to ₹1,00,000, significantly boosting their monthly income from a base salary of ₹18,000. Additionally, top-performing DCA agents were transitioned to regular salaried roles, while underperformers were phased out, formalizing the entire sales workforce to enhance stability and structure. With TeamLease managing timely monthly incentive payouts, attrition rates dropped dramatically to under 3% per month, reflecting a major improvement in workforce retention and motivation.

4. Technology to Empower the Workforce

• CRM tools provide real-time insights into customer data, enabling workers to personalise their sales approach.
• Performance Dashboards allow workers to track their sales progress and incentive earnings transparently.
• Communication platforms facilitate seamless communication between workers and managers, ensuring timely updates on product launches or sales strategies.

5. Building a Positive Work Environment

Foster a culture where contract workers feel valued and integrated. Some ways to achieve this include:

• Regular feedback sessions.
• Opportunities for skill enhancement.

5. Regular Monitoring and Feedback

Monitor the performance of the contract workforce using key metrics such as:

• Sales volume and revenue generated
• Customer satisfaction scores
• Market coverage and new customer acquisition

A well-managed contract workforce can be the key to sustained growth and market adaptability. By investing in skills development, leveraging technology, and creating meaningful incentive structures, businesses can transform contract workers into a motivated and high-performing sales force.A strategic focus on collaboration and inclusion will further bridge the gap between contract and permanent employees, fostering a unified team aligned with shared goals. With the right strategies in place, companies can utilise the full potential of their contract workforce to drive sales, boost customer satisfaction, and secure a competitive edge.

In a world that demands agility and innovation, a well-equipped contract workforce is not just a solution—it’s a game-changer.

Ease of Doing Business

With many compliances that a business has to follow, India is significantly improving its ease of doing business through several key measures. The Business Reforms Action Plan (BRAP) 2024 is streamlining regulatory frameworks and integrated online services. Efforts to reduce compliance burdens and decriminalise business laws are creating a more business-friendly environment. Additionally, substantial infrastructure investments and expanded Production Linked Incentive (PLI) schemes are bolstering domestic production and attracting foreign investments. The government’s push for digital solutions and ICT adoption has further enhanced efficiency and streamlined processes.

Building a Compliance-First Culture with Staffing Firms

Labour laws in India can change rapidly, and staying updated is the need of the hour. To keep up with India’s ever-changing labor laws, HR heads in manufacturing can partner with staffing firms that specialize in HR compliance management, as they have dedicated teams that keep track of legal shifts, helping businesses adapt seamlessly. These firms help ease the pressure of staying updated with legal changes, ensuring that your business is following all the statutory compliance in HR without constant effort on your part. Staffing companies also emphasises the importance of HR compliance from the top down.

Beyond just managing compliance & HR policies in India, staffing firms also play a key role in educating and training the workforce on the latest legal requirements. This helps ensure everyone, from management to employees, knows and follows legal guidelines. In short, working with these firms allows you to stay compliant while focusing on running your business smoothly.

Staffing companies also leverage advanced technology, like payroll systems and HR software, to track hours, wages, and HR compliance with labour laws. These systems are crucial in maintaining accurate records and avoiding issues like overtime errors, pay discrepancies, or missed benefits.

Additionally, staffing firms conduct regular compliance audits to ensure that the business aligns with legal standards. These audits help HR managers spot any gaps in compliance early, preventing costly penalties or legal complications down the line. By partnering with staffing companies, you can ensure the business remains on track without worrying about legal issues.

Final Thoughts: Fostering Compliance for Growth and Fairness

Ensuring HR compliance in India’s manufacturing sector is a cornerstone of ethical and sustainable business growth. As the manufacturing industry continues to grow & expand, staffing firms in India can help compliance issues in manufacturing Industry by making them to stay compliant, streamline operations, and foster a positive work environment for their employees.

By building a culture of compliance supported by robust systems, advanced technology, and regular audits, businesses can not only meet legal standards but also boost employee trust and satisfaction.

At TeamLease, we specialise in helping businesses meet compliance seamlessly. TeamLease successfully completed the HR compliance audit and received the Certification of Appreciation from Skoda for Best Statutory Compliance Performance Awards 2024.

Contact us today to explore how we can support your growth as well.

Here we are, reflecting on 2024. It’s clear that the year brought major changes to the recruitment landscape. Despite strong economic growth projected at 6.9%, organizations faced a persistent talent shortage, with emerging sectors like Logistics, EV & Infrastructure, and Agrochemicals driving demand for skilled professionals. The future of work is characterized by flexibility and purpose. As India accelerates its efforts to become a global talent powerhouse, 2024 laid the foundation for innovative recruitment strategies to cultivate a future-ready workforce.

Employment landscape in 2025

As we look ahead, the employment landscape is booming, as remarkable growth and innovation cross boundaries. According to TeamLease’s Employment Outlook Report H2 FY25, India’s workforce is projected to grow by a substantial 7.1% in the second half of FY25. Key sectors such as logistics, electric vehicles, and agriculture are leading the charge in creating new jobs. Additionally, emerging cities like Coimbatore, Gurgaon, and Jaipur are rapidly becoming attractive destinations for talent, expanding the nation’s job market.

The recruitment landscape continues to make progress, and the increasingly important competencies include problem solving, time management, soft and hard skills. Simultaneously, retention strategies and employee recognition and career advancement are becoming increasingly critical in calling attention to the importance of forming long-term workforce stability as well as satisfaction.

Here are the top 11 recruitment strategies for 2025:

1. AI-Driven Talent Acquisition

Leverage artificial intelligence to streamline recruitment processes like candidate screening, resume parsing, and job matching. AI tools can analyze skills, experiences, and cultural fit to provide data-driven hiring recommendations.

Tip: Integrate AI into your applicant tracking systems (ATS) to save time and improve accuracy in candidate selection.

2. Emphasis on Employer Branding

Candidates are drawn to organizations with strong, positive reputations. Building an authentic employer brand on platforms like LinkedIn and Glassdoor can attract top talent.

Tip: Regularly update your career pages, share employee testimonials, and showcase your company culture through social media and videos.

3. Skill-Based Hiring

Move away from traditional degree-based requirements and focus on skills and competencies. This approach broadens your talent pool and taps into non-traditional candidates.

Tip: Use skill-assessment platforms to evaluate candidates’ abilities during the hiring process.

4. Contract Staffing Boom

The gig economy continues to thrive, with businesses increasingly turning to contract staffing for flexibility and specialized skills.

Tip: Partner with reliable staffing agencies to access a pre-vetted pool of contract workers who can hit the ground running.

5. Employee Retention Through Recognition

Retention remains a priority as competition for talent intensifies. Recognizing employee contributions and offering clear career growth paths can improve engagement and reduce turnover.

Tip: Launch monthly recognition programs and provide employees with personalized development plans aligned with their career aspirations.

6. Diversity, Equity, and Inclusion (DEI)

Prioritize building diverse teams to foster innovation and create an inclusive workplace culture. DEI is not just an ethical priority—it’s a business imperative.

Tip: Implement blind hiring practices and actively source candidates from underrepresented groups.

7. Upskilling for Industry-Specific Needs

In sectors like Agri & Agrochemical or EV Infrastructure, rapidly evolving technologies require a skilled workforce. Investing in upskilling initiatives ensures your team stays ahead.

Tip: Offer certifications and courses tailored to industry trends, such as supply chain management for Logistics or EV-specific engineering skills.

8. Virtual Job Fairs for Regional Outreach

As emerging hubs grow, virtual job fairs provide a scalable way to connect with talent across these regions without geographical constraints.

Tip: Use interactive platforms that allow candidates from Coimbatore, Gurgaon, and Jaipur to network with recruiters, attend live Q&A sessions, and upload resumes.

9. Data-Driven Recruitment

Leverage analytics to make smarter hiring decisions. Data can provide insights into time-to-hire, candidate sourcing efficiency, and long-term employee success.

Tip: Use recruitment dashboards to track KPIs and refine your strategies based on actionable insights.

10. Pay Transparency

Pay transparency is no longer optional—it’s expected. Job seekers value organizations that openly share salary ranges, demonstrating fairness and accountability.

Tip: Include salary ranges in job postings to attract candidates and build trust. Regularly review compensation structures to ensure market competitiveness and eliminate pay gaps.

11. Gen Z Entering the Workforce

Gen Z is officially making its mark in the workforce. With their tech-savviness, focus on purpose-driven careers, and preference for flexibility, they’re reshaping workplace expectations.

Tip: Highlight your organization’s commitment to social responsibility, sustainability, and diversity in job postings. Offer mentorship programs to help Gen Z employees navigate professional growth while adapting to workplace norms.

Looking Ahead

As we navigate the evolving landscape of work, organizations must adapt their recruitment strategies to attract and retain top talent. By embracing AI, prioritizing employee experience, and focusing on skills and diversity, businesses can thrive in the competitive job market. Remember, a well-executed recruitment strategy is not just a cost, but an investment in the future success of your organization.

Looking to scale your workforce in high-growth sectors or emerging hubs? Partner with us for tailored recruitment solutions. Contact Us

Effective Solutions to these Challenges

Entry-level BFSI recruitment Challenges demands well-thought-out strategies that not only address current challenges but also support sustainable workforce development. Below are some solutions to the challenges discussed above:

1. Boost Retention with Incentives and Career Growth Opportunities
   Combat high turnover by offering performance-based incentives and milestone bonuses that encourage longer tenures. Providing clear career paths and regular feedback can foster job satisfaction and a sense of security, particularly in high-target sales roles. Have a look at one such solution that Teamlease has provided. Check out how TeamLease successfully partnered with a microfinance company to enhance its recruitment process, onboarding 400 associates in just one month, reduced attrition and setting the stage for the future recruitment of an additional 2,000 associates while delivering various significant advantages.
2. Build Local Talent Pipelines in Remote and Semi-Urban Areas
   Partner with staffing companies in remote and semi-urban areas to facilitate localized recruitment and identify candidates with relevant skills. Utilizing tech-driven tools like video interviews and virtual assessments can streamline the process, making it easier to reach and onboard talent from remote regions.Have a look at one such case study wherein TeamLease helped the client achieve a CAGR of 600% in onboarding and expanded into new verticals across Tier 1 to tier 5 cities. Additionally, the TeamLease technology platform made workforce management a seamless process with it’s Digital Workforce Management platform.
3. Close Digital Skill Gaps through Focused Onboarding and Training
   Partner with training providers and staffing firms to create onboarding programs that focus on digital literacy and essential fintech skills. Utilizing online training modules ensures they can navigate digital tools and mobile banking applications effectively from day one.
4. Accelerate Compliance and Background Checks with Automation
   Leverage automated tools to streamline background verifications and compliance processes, minimizing hiring delays without compromising regulatory standards. Partnering with pre-vetted staffing companies can also speed up the process.
5. Anticipate Seasonal Workforce Needs with a Ready Talent Pool
   Maintain a database of pre-screened candidates to quickly address seasonal spikes in demand. Collaborate with staffing partners for temporary hiring support and consider competitive short-term contracts to attract quality talent during peak periods.
6. Enhance Role Clarity with Realistic Job Previews
   Set clear expectations from the outset by providing realistic job previews during recruitment. Mentorship programs can further support new hires in adjusting to role demands, especially in high-stress sales and customer service positions.
7. Invest in Continuous Skill Development for Career Progression
   Offer structured training programs that emphasize both job-specific and soft skills. A tiered skill development pathway, with opportunities for certifications, enables employees to grow within the company, enhancing engagement and retention.

Conclusion

Optimizing recruitment in the BFSI sector requires a multifaceted approach due to the competitive landscape and stringent regulations. Building an agile recruitment framework is essential to streamline hiring and establish a pipeline of skilled temporary staff. However, sourcing quality candidates quickly amidst high competition and varied role requirements is challenging, as is maintaining compliance with India’s complex labor laws. Implementing innovative staffing solutions can balance speed with quality, ensuring regulatory compliance while supporting organizational agility.

Recruitment for entry-level contractual roles in BFSI faces challenges such as high attrition, skill gaps, and compliance issues. Through efficient hiring processes, realistic job previews, and learning and development opportunities to the entry level staff organizations can solve the most common recruitment challenges.

Ready to transform your BFSI recruitment strategy? Connect with us today!

Job Creation: Logistics expanding employment horizon

India’s Logistics Industry is poised for significant growth, which is expected to create millions of new jobs. By 2027, it is estimated that the industry will generate around 10 million jobs. These opportunities will cover a range of areas, including:

• Delivery and Warehouse Personnel: The surge in e-commerce will drive the need for delivery personnel, pickers, packers, and warehouse staff.
• Logistics Specialists: Positions such as warehouse managers, freight forwarders, and transportation planners are anticipated to see substantial growth.
• Skilled Professionals: There will be a high demand for roles that require expertise in data analytics, AI, and supply chain management.

HR strategies in the logistics industry are being redefined to address both conventional challenges and emerging demands. As hiring for logistics increases, companies are putting more resources into skill development, reskilling and upskilling their logistics workforce in areas such as digital tools and automation to maintain a competitive edge. To combat high turnover rates, particularly in last-mile delivery positions, there is a strong emphasis on employee welfare, mental health support, competitive salaries, and clear pathways for career advancement. Efforts to promote diversity and inclusion are broadening recruitment efforts, while flexible staffing models are being utilized to handle seasonal demand. Additionally, hiring for logistics is becoming more efficient with the use of technology-driven recruitment methods, such as AI, which streamline the hiring process and minimize biases.

Logistics companies in industries such as e-commerce and retail often experience varying workforce needs, particularly during festive seasons, sales promotions, or new product releases. In these scenarios, logistics staffing solutions are essential, offering a budget-friendly way to bring in temporary workers without the obligation of permanent hires. These staffing agencies streamline the hiring process by providing access to pre-screened candidates, addressing specific job requirements, and assisting businesses in managing compliance and administrative tasks. This enables companies to grow effectively while remaining adaptable.

Success Story

A national courier and logistics company in India was facing challenges in managing its growing workforce, including lack of standard processes, no escalation mechanism for queries, and inadequate tech solutions from a previous vendor. TeamLease became their exclusive staffing partner, implemented e-onboarding through the TL Connect App for quick compliance, streamlined payroll with regional collaboration, and provided a TLConnect portal for centralized management of 1300 associates, with potential to scale to 6000+. Chatbot assistance was also introduced for instant query resolution, ensuring 100% adherence to regional compliance.

Future Trends: Technology and Sustainability

Several emerging trends are shaping the future of India’s logistics industry:

1. The logistics industry is undergoing a significant transformation thanks to advancements in AI, machine learning, and the Internet of Things (IoT). These technologies facilitate smarter route planning, enable real-time tracking, and enhance warehouse automation.
2. To promote eco-friendliness, logistics firms are embracing sustainable practices such as using electric vehicles and environmentally friendly packaging to minimize their impact on the environment.
3. There is a notable shift from predominantly road-based transportation, which currently handles 66% of cargo, to a more efficient multimodal transportation approach incorporating railways, waterways, and airways for freight movement.
4. Many businesses also lean towards asset-light logistics models, focusing on improving customer experience while outsourcing their warehousing and transportation needs.

The future of logistics in India is focused on adopting technology and sustainable practices. With the help of AI tools, multimodal transport, environmentally friendly methods, and asset-light models, the industry is becoming more efficient, flexible, and eco-conscious. These trends are expected to not only fuel growth but also transform the operations of logistics companies in the coming years.

Overcoming Challenges for a Robust Future

The logistics companies in India is undergoing a significant transformation, fueled by advancements in technology, robust government backing, and evolving logistics staffing solutions. Given its crucial role in the economy and its ability to generate millions of jobs, this sector is set to play a vital part in helping India reach its ambitious economic objectives.

To promote better growth, it is crucial to focus on creating job opportunities, improving learning and development programs, and establishing effective strategies for retaining talent in the logistics industry in India. This strategy will not only tackle existing skill gaps but also guarantee a sustainable and skilled workforce capable of adapting to the changing needs of the sector.

Is your logistics operation ready for peak seasons or unexpected demand surges? Get flexible, skilled contract staffing solutions to meet peak demands and streamline costs. Contact us today!

Growing Demand for Green Skills in Green India Mission

As the world moves towards a greener and more sustainable future, India also needs more green jobs. Projections indicate a surge of 30-35 million green jobs in India by 2047. Key sectors such as Renewable energy, Electric vehicles, the Power and energy sector are the forefront of this transformation.  The traditional industries like the Manufacturing sector, Construction are now also focusing on sustainable operations. This transformation is creating numerous job opportunities for engineers, project managers, sustainability managers, waste managers etc. Universities and institutions are also introducing specialised courses and programs focused on sustainability to meet this demand.

Despite the growing demand, there is a significant gap between the current workforce skills and the skills required by the green projects. A full-service contract staffing company that offers solutions from hire to retire including – hiring, training and skilling, and deployment program can help bridge the gap. 

Role of Contract Staffing in Bridging the Skill Gap and Getting the Right Talent

As the nation intensifies its focus on sustainability, the demand for specialised skills in renewable energy, sustainable agriculture, and green technology is rapidly increasing. This change is outpacing the supply of the qualified workforce.

Advantages of working with a contract staffing firm:

Access to specialised talent: As the contract staffing firms have an extensive network of professionals with niche skills, it becomes easier for the companies to quickly fill in the positions required for the green project. 

Case Study: India’s leading all-electric ride-hailing service in Delhi and Bangalore faced challenges with payrolling and difficulties in managing ESIC, PF, smooth onboarding, and timely salary payments. We addressed these needs with our Pan India presence, simplifying the onboarding process through our TL Connect platform and ensuring 100% compliance with statutory requirements like PF and ESIC. Converted daily wage payouts to a streamlined monthly salary structure, managing payroll for over 300 employees, significantly improving employee satisfaction and efficiency.

Fulfilment of seasonal demand: As many companies require the workforce for a short period due to seasonal demand, such as solar panel installment, etc. Contract staffing firms can be flexible in scaling up or down as per the demand.

Customised training programs: Many staffing firms have customised training modules that can be helpful to train the existing as well as the new workforce joining in to bridge the skill gap in emerging areas like latest renewable technologies, waste management, etc. 

Compliance & Administration: Navigating India’s complex labour laws and compliance requirements can be challenging. Staffing agencies handle these administrative tasks, ensuring that all legal and regulatory standards are met, which allows companies to focus on their core business.

Digital Staffing Platforms: Contract staffing companies leverage digital platforms to streamline hiring. This allows for quick identification and recruitment of skilled professionals ready to work on green projects. These platforms use AI-based matching systems to ensure that the candidates align closely with the specific needs of a project.

Cost Efficiency: Companies can save up to 40%-50% of their hiring cost by associating with the staffing firm for their hiring needs. They can also avoid the costs associated with permanent hires, such as benefits and long-term salaries, while still accessing top-tier talent.

As the green economy continues to expand, the contract staffing firms in India can play pivotal role in fulfilling the growing demand of green skill workforce by bridging the gap between the demand and supply of the workforce. Reach out to us for your hiring needs and strengthening your workforce with the right skill.

Here are a few examples of how companies are responding:

Bulk Hiring for increased customer support: As more consumers buy products online as well as through brick and mortar outlets, the level of customer support activities in companies is up with a corresponding increase in inquiry and return volumes. Temporary seasonal workers are brought into play in order to manage high levels of service in a very efficient and time-sensitive manner, in the best interests of retaining and sustaining customers.

Logistics and supply chain staffing: Companies fill up their warehousing, packaging, and delivering workforce when the demand peaks for order fulfilment and on time deliveries, for example while making online purchases. Casual logistics staffing will ensure in time delivery of the products whereby customers can shop with ease hassle free and the businesses to be supported in this peak season.

Sales and marketing push: Businesses increase their sales teams to manage in-store crowds, guide customers, and offer personalised service. At the same time, marketing teams work harder on digital campaigns, promotions, and festive events, requiring content creators, social media managers, and advertising specialists to boost visibility and engagement.

Enhanced retail experience and inventory management: For retailers to be able to manage the foot traffic properly and to make available the items in popular demand, there would be a need for extra floor-level staff to help with restocking, inventory management, and store presentation. The staff would be trained to create in-store experiences, assist shoppers, and increase the chances of conversions.

Hospitality and entertainment staffing: Restaurant and hotel houses require additional staff in catering, hosting, and event management due to more social gatherings and celebrations, which also entail entertainment venues. All of these provide employment in planning events, serving food, and coordinating the needs of customers to create happy moments for the guests.

IT and security personnel: To accommodate higher online traffic and ensure transaction security, companies bring in additional IT and cybersecurity professionals. This support is essential for preventing downtime and enhancing the digital experience, especially as more consumers turn to e-commerce and mobile shopping during the festive period.

Over 1,000 contract staff in record time

A leading e-commerce marketplace giant, with revenue in billions and a host of subsidiaries with operations across the country, was facing a surge in manpower needs with the festive season. To meet this demand, they partnered with us for robust payroll management and 100% adherence to statutory compliance. We assisted the client in successfully deploying over 1,000 contract staff in record time, fulfilling seasonal and adhoc manpower requirements. We ensured on-time onboarding and effective associate engagement, thereby limiting attrition and no-shows to a bare minimum, which allowed the client to service to very high levels with little to no operational impact during peak time.

Need a workforce solution that delivers speed, compliance, and engagement? Let us handle your bulk hiring this season so you can focus on what matters most. Contact us now to discuss your requirements!

Job Opportunities in Asset Management Companies

The AMC segment attracts not only investors but also the workforce in the financial services domain. There is an increased demand for skilled professionals who are well aware of recent trends and up-to-date with fund-related information. AMCs employ fund managers and research analysts, as well as people in domains like sales, customer support, and back office roles, to grow operations.

The aspirations of the growing middle class and disposable incomes have opened an avenue for financial products and services in India. People are looking to diversify their investments to a more return-based asset class. With the rise of advanced online platforms and applications, the digital revolution also significantly increased mutual fund accessibility. The growth of fintech companies has expedited AMCs’ presence in untapped semi-urban and rural areas to bridge the gap between urban and rural investors. Since the investors from tier 2, tier 3 cities and rural areas are first time investors they require a human touch. Therefore, AMCs need back office, and customer services.

While hiring full-time employees can lead to fixed costs and added administrative burdens, the ability to scale your workforce more flexibly is becoming increasingly essential. As organizations seek to adapt quickly to changing demands, the trend toward utilizing contractual employees, especially in support roles, is on the rise.

Challenge and the Way Forward

Although India now has around 44 asset management companies, the industry still faces challenges like market volatility and building trust with first-time investors. Competition has intensified not only within the sector but also from related areas such as insurance (ULIPs), P2P lending, direct trading platforms, traditional deposits, and  bonds offering fixed returns. However, the sector holds strong potential to overcome these hurdles due to increased regulatory vigilance, a focus on transparency, and a track record of delivering better long-term returns. Investors in untapped regions, who value a personal touch, are driving demand for contract staffing, offering flexibility and customized solutions.

Personalization and deep product knowledge are essential in the AMC space, especially customer centricity and engagement. Sales and distribution professionals must be adequately qualified, as they serve as ambassadors of the company in how they engage with prospects. Similarly, support functions should also have a basic understanding of sector operations. Contractual staffing in AMCs enhances this by ensuring employees across all touchpoints reflect the company’s values, allowing AMCs to focus on more critical tasks.

Conclusion

AMCs in India are a prime example of how financial products and services can create wealth and spur economic expansion. Their success story has been remarkable, supported by encouraging legislative frameworks, technological advancements, and rising participation from retail investors.  

By utilizing contract hiring company and hiring a skilled workforce to help individuals make better financial decisions and guide them on their financial journey,  AMCs can keep up with increasing demand while addressing evolving workforce requirements while keeping up with low cost-to-hire and less time-to-hire with an efficient contractual workforce planner.

Looking to expand your AMC’s workforce? Contact Us

In this blog, we’ll delve deep to understand how housing finance companies in India are doing and how recent government’s push might help them grow, and sort of  job opportunities opening up in this key sector.

Current Landscape of Housing Finance in India

Housing Finance Companies in India (HFCs) lead the way in providing finances or loans to people and builders, helping in both urban and rural areas. HFCs work alongside traditional banks by zeroing in on specific markets, offering customized solutions, and reaching to the unexplored geographies. Schemes and initiatives like Pradhan Mantri Awas Yojana (PMAY) and “Housing for All” helped the sector grow even more. More people wanting housing loans has led to more HFCs coming up with the sector becoming more competitive.

Government Initiatives’ Impact on Housing Finance

• Increased allotment for Housing Schemes: The Union Budget for 2024–2025 provided ₹30,170 crore for the Pradhan Mantri Awas Yojana—Urban (PMAY-U), a 20.19% increase over the preceding year’s amount. By adopting these measures, housing projects will increase in both rural and urban regions, creating an uptick in the demand for home loans.
• Lower Interest Rates: The continuation of  interest rate subsidies, from 3-6.5% for different income groups, to people buying their first time homes under the Credit Linked Subsidy Scheme (CLSS). This will make home loans cheaper, pushing more people to buy homes.
• Tax Incentives: The budget has kept tax incentives going for both home buyers and developers, making it financially attractive to invest in housing. The deduction on home loan interest payments is a big plus that should make more people want housing loans.

Apart from these, increase in other infrastructure projects is boosting the demand for urban housing in the geographically attractive regions.

Job Opportunities in the Housing Finance Sector

The growth of the housing finance sector, pushed by the positive government policies and budget spending, is set to create numerous housing finance jobs. As HFCs expand their reach, the demand for skilled professionals are rising in the profiles such as Loan Officers, Customer service, Risk management, Compliance and Legal Services along with in Technology and Digital transformation to streamline the operations.

Challenges and Opportunities Ahead

The housing finance sector looks bright, but it faces several challenges, such as regulatory changes, competition from traditional banks, and the need for strong risk management practices to control defaults on housing loans. Still, the chances for growth outweigh the challenges with the government’s increased focus for affordable homes and better infrastructure.

Conclusion

The housing finance companies in India is set for significant growth considering all the economic factors currently. This growth comes from demand for affordable homes, push from the government, and recent government policies and announcements. As this sector gets bigger, it will boost the economy and create many new job opportunities. For people looking to build a career in the financial services domain, housing finance offers a bright, dynamic landscape.

By utilizing temp staffing and hiring skilled workers, HFCs can keep up with more demand and while addressing the evolving requirements of the market.

Contact us to ensure your business is equipped with the best resources to thrive and grow in this dynamic environment.

Job Advancements

While digital manufacturing presents significant opportunities for job creation, it also poses challenges related to job displacement. Automation of routine and manual tasks may lead to job losses in industries that rely heavily on unskilled labour. However, these losses must be viewed within the broader context of economic transformation.

Automation of Repetitive Tasks

Advanced technologies such as robotics and AI are increasingly capable of performing tasks traditionally done by humans, leading to the automation of routine, low-skilled jobs. For instance, roles such as assembly line workers and machine operators might get very less in demand as companies adopt more advanced manufacturing technologies.

Shift to Higher-Skilled Jobs

Although some jobs may become absolute, Industry 4.0 in India provides opportunities for workers to transition into higher-skilled roles. The focus shifts from manual labor to more complex tasks that require problem-solving, creativity, and technical proficiency. Workers who can acquire new skills can take advantage of these more advanced and rewarding roles.

Government and Industry Support

To address the challenges associated with Industry 4.0 in manufacturing, both the government and industry stakeholders are working to implement supportive measures. In the recent budget, 2 Lakh crore was assigned to facilitate the employment and skilling of 4.1 crore youths over a five-year period. Reskilling initiatives, financial incentives for businesses investing in workforce development, and inclusive growth policies are designed to ensure that the benefits of digital manufacturing reach all sectors and workers.

How TeamLease Can Help Address the Workforce Needs of Industry 4.0

As Industry 4.0 in India continues to reshape the industrial landscape, businesses need skilled and semi- skilled professionals to fill roles in areas like AI, IoT, automation, data analysis, operational excellence, design, support, etc. TeamLease, a staffing and workforce solutions leader, is uniquely positioned to help companies meet this demand.

By offering a comprehensive range of staffing solutions, TeamLease can assist organizations in sourcing the right talent for these emerging roles. Additionally, TeamLease’s focus on upskilling and reskilling initiatives ensures that workers have the competencies required to thrive in Industry 4.0-driven environments. With its extensive experience and commitment to workforce development, TeamLease can help businesses stay ahead in this technological transformation era while supporting workers in their career progression.

Contact us to get the talent essential for success and empower your employees with the skills they need to excel in the digital economy.

The growing gap and the role of temp staffing

India’s skill gap is widening as industries rapidly transform, driven by advancements in technology, automation, and evolving market needs. This growing disparity between the skills required and those available has prompted companies to seek agile solutions, with temp staffing emerging as a powerful tool to address immediate workforce needs. Contract staffing allows businesses to access skilled professionals for short-term assignments or project-based roles without the long-term commitments of permanent hiring. This trend is particularly evident in sectors where project cycles are short or where companies need to scale up quickly to meet demand surges, such as e-commerce, logistics, and IT services. For instance, during the pandemic, healthcare facilities in cities like Mumbai and Delhi relied heavily on temp staffing to manage the surge in demand for medical professionals.

Temporary staffing provides an effective solution by:

• Offering a flexible talent pool for short-term projects.
• Helping organisations stay agile in dynamic markets.
• Providing niche expertise to address specific requirements
• Being cost-effective compared to full-time employees
• Enabling quick scaling to meet changing demands
• Benefitting companies by addressing immediate skill gaps.
• Helping workers gain diverse industry experience.

Change is the only constant.

According to TeamLease Employment Outlook Report H1 FY25, both technological advancements and skill shortages are seen as significant factors by 35% & 36% of the respondents respectively. The influence of technology on job role transformation and the imperative for skilled labour to adapt to new technological systems are emphasised by employers.

A critical component of closing the skills gap is addressing employee retention, particularly as industries invest in skill development and training. A multinational electrical equipment company successfully reduced attrition rates by 5% by implementing comprehensive retention initiatives and improving employee engagement. By establishing a controlled learning environment that fostered optimal knowledge retention and skill development, the company was able to create a more motivated and skilled workforce. These efforts not only curbed turnover but also ensured that employees were consistently upskilled, making them more aligned with the evolving demands of the industry.

As the saying goes, “Change is the only constant,” this is especially true of the modern workplace, which is always changing due to socio-economic factors. Embracing the idea that the biggest asset is “people,” organisations must ensure that the workplace becomes an enabler, not a hurdle. By focusing on flexibility, diversity, and inclusion, India can harness its workforce’s full potential and drive meaningful progress in its economic development.

Looking to close skill gaps with specialised talent? Leverage contract staffing for flexible, high-impact solutions. Contact us today.

Legal and compliance framework for temporary staffing in India

The legal and compliance framework for contract hiring in India is complex and subject to change. Businesses must adhere to various labor laws and regulations, including:

• The Contract Labour (Regulation and Abolition) Act, 1970: This act regulates the employment of contract labor and sets out conditions for their employment.
• The Minimum Wages Act, 1948: This act sets minimum wages for workers in various industries and occupations.
• The Industrial Disputes Act, 1947: This act provides for the settlement of industrial disputes and regulates trade unions.
• The Employees’ State Insurance Act, 1948: This act provides insurance benefits to employees and their dependents.
• The Provident Funds and Miscellaneous Provisions Act, 1952: This act provides for retirement benefits to employees.

It is important for businesses to comply with these and other relevant labor laws when employing temporary workers. If a company fails to comply to the legal requirements, the results are penalties and severe legal action. In some cases, the impact could be jail term as well.

Best practices for effective temporary staffing

Effective contract staffing requires careful planning and execution. By adhering to proven best practices, businesses can ensure a smooth and successful experience. From defining clear requirements to selecting the right staffing agency, these guidelines will help you optimize your contract staffing efforts. Some of the best practices are:

• Partner with a reputable staffing agency: Choose an agency with a strong track record and expertise in your industry.
• Requirement gathering and communication: Clearly communicate your requirements to the staffing agency, including job descriptions, skills, and experience levels.
• Utilize technology: Leverage digital tools to streamline the recruitment, onboarding, and management processes.
• Performance evaluation: Regularly assess the performance of temporary workers and provide feedback.
• Consider converting temporary workers to permanent roles: If a temporary worker performs well, consider offering them a permanent position.

Industry benchmarks and trends

The contract staffing industry in India has been growing steadily in recent years, driven by factors such as economic growth, urbanization, globalization, and the increasing demand for flexible workforce solutions. Some key industry benchmarks and trends include:

• Growth: The contract hiring market in India is expected to continue growing at a healthy rate, driven by factors such as increased outsourcing, project-based work, and the need for specialized skills. One report by Business Market Insights forecasts a CAGR of 13.2% for the India staffing and recruitment market from 2022 to 2030.
• Digitalization: Technology advancements are transforming the availability of workforce impacting the industry, with increasing adoption of digital platforms and tools for recruitment, onboarding, and management.
• Skill shortages: Skill shortages in certain sectors, such as IT, engineering, and healthcare, are driving demand for temporary workers.
• Gig economy: The rise of the gig economy is creating new opportunities for contract labor and businesses seeking flexible talent.
• Compliance: Ensuring compliance with labor laws and regulations remains a key challenge for businesses operating in the temporary staffing industry. There are significant ongoing legislative improvement, yet there are overwhelmingly over 100 central and state laws for staffing, highlighting the substantial complexity of compliance.
  

Understanding these industry benchmarks and trends can help businesses make informed decisions when considering temporary staffing services. Our Employment Outlook Report H1 FY25 reveals that 35% and 36% of respondents cite skill shortages as major challenges, with employers stressing the need for skilled workers to adapt to evolving technological roles.

By understanding the benefits, legal framework, and industry trends of contract hiring, Indian businesses can make informed decisions about their workforce needs. Whether facing seasonal fluctuations, project-based work, or skill shortages, temporary staffing services offers a flexible and efficient solution to scale your team and achieve your business goals.

Returning to our earlier example, by partnering with a reputable staffing agency, the HR head at the manufacturing company could have quickly filled the critical roles in different departments quickly, ensuring minimal disruption to operations. Contract staffing offers a flexible and efficient solution for businesses facing urgent hiring needs, allowing them to scale their workforce without incurring long-term commitments.