In a recent research report, it was noted that the semiconductor industry in India soared to US$34.3 billion in 2023 and is forecasted to surge to US$100.2 billion by 2032, demonstrating an impressive compound annual growth rate (CAGR) of 20.1% from 2023 to 2032.

The latest 2024 Union Budget substantially boosted funding for the semiconductor industry in India and the display manufacturing initiative, allocating a 130% increase to INR 690.3 million (US$83.28 million). According to government finance documents, the revised estimated expenditure for the ‘Modified Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India’ in FY24 stands at INR 150.3 million (US$18.14 million).

Leveraging India’s strengths in chip design, the newly approved units are poised to foster chip fabrication capabilities and bolster indigenous packaging technology advancements. This initiative is expected to spawn numerous employment opportunities, with the government projecting the direct creation of 20,000 high-tech positions and an additional 60,000 indirect jobs in the semiconductor industry.

India foresees a “ripple effect” that will accelerate job prospects across downstream industries such as automotive, electronics, and telecom growth in India. By 2026, it is estimated that India will generate over 300,000 jobs in the semiconductor industry in various domains, including testing, engineering, software development, system circuits, validation, and operations. This expansion promises to invigorate India’s technological landscape and boost economic growth significantly.

Government initiatives and schemes for the Semiconductor Industry in India

The Semicon India Program has fortified India’s strides towards a robust semiconductor industry. The government allocating INR 760 billion to propel companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging, and design. This initiative aims to bolster Indias semiconductor ecosystem and telecom growth in India.

The India Semiconductor Mission (ISM), which is tasked with implementing and overseeing the Semicon India Program, is driving this initiative forward. The ISM handles application processes, conducts technical and financial appraisals, recommends applicant selections, and executes other responsibilities delegated by the Ministry of Electronics and Information Technology (MeITY).

Semiconductor Fabs Scheme: Under this scheme, the government pledges up to 50% of the project cost for establishing silicon-based semiconductor wafer fabrication facilities across different technology nodes in India. State governments or local bodies can extend additional financial backing. Applicants must commit to a minimum capital investment of INR 200 billion and demonstrate a minimum revenue of INR 75 billion over the preceding three financial years.

Display Fabs Scheme: Similarly, the government offers up to 50% of the project cost to design display fabrication units for manufacturing TFT LCD/AMOLED-based display panels. State governments or local bodies may provide supplementary financial support. Applicants are required to invest a minimum of INR 100 billion and exhibit a minimum revenue of INR 75 billion over the preceding three financial years.

Design Linked Incentive (DLI) Scheme: The DLI Scheme incentivises semiconductor design activities by offering financial incentives and support for design infrastructure over a five-year period. This scheme is accessible to companies owned and controlled by resident Indians, startups, and micro, small, and medium enterprises engaged in semiconductor design or linked activities.

Hiring activities in the Semiconductor Industry

In 2024, the semiconductor industry in India is witnessing a significant surge in demand for skilled professionals, with an estimated total demand ranging between 40,000 to 50,000 employees across various job roles. This reflects a notable 25-30% increase compared to the previous year, underlining the sector’s rapid growth and evolving needs.

India is set to generate an impressive 800,000 to 1 million jobs in semiconductor industry over the next five years, highlighting sustained growth and promising prospects within the semiconductor ecosystem. This anticipated expansion underscores the industry’s pivotal role in driving employment and innovation, offering substantial avenues for individuals aiming to enter or progress within this dynamic field.

The surge in demand reflects the industry’s increasing reliance on advanced technologies and the ongoing digital transformation across sectors. As the semiconductor market continues to evolve and scale, it presents compelling opportunities for skilled professionals to contribute to and benefit from its ongoing success and development. This growth trajectory underscores the significance of cultivating talent and expertise in this critical sector to meet the burgeoning demands of tomorrow’s technology landscape.

Final thoughts

India’s semiconductor industry is on a trajectory of significant growth, driven by substantial government investments and strategic initiatives. With a forecasted surge to US$100.2 billion by 2032 and ambitious job creation targets, Indias semiconductor ecosystem promises innovation, employment, and economic expansion. Initiatives like the Semicon India Program and the Semiconductor Fabs Scheme are crucial for nurturing indigenous capabilities. Skilled professionals are needed to capitalise on emerging opportunities, propelling India towards technological prowess and sustained economic prosperity.

Hiring for Manufacturing Industry in India

India’s manufacturing sector is on the cusp of a transformative leap, aiming to bolster its GDP contribution to 25% by 2025. The hiring for the manufacturing sector is on the rise with a plethora of job opportunities, particularly in high-growth areas like automotive, electronics, and textiles, fueled by domestic demand and export prospects. Technological advancements, including automation and AI, are expected to reshape the sector, necessitating a skilled workforce adept in modern manufacturing practices. According to TeamLease’s Employment Outlook Report H2FY24, 74% of the employers have projected incremental workforce expansion and 69% incremental new hiring for manufacturing, with Chennai, Bangalore, Hyderabad, and Coimbatore emerging as the top cities for recruitment in this sector.

Building a combination of technical and soft abilities is crucial for individuals eyeing a successful career in the manufacturing sector. While the knowledge of automation and robotics is critical for enhancing efficiency and production, the capacity to analyse and understand data from sensors and machines helps in process optimisation and decision-making. Similarly, understanding CAD and CAM software and technical troubleshooting skills are important for ensuring smooth production.

Addressing Skill Shortages

The rapid adoption of Industry 4.0 technologies such as AI, ML, and automation has resulted in a skills gap within the manufacturing industry in India. A survey reveals that 74% of manufacturing executives struggle to find qualified candidates for roles in these specialised areas.

To address this demand-supply gap, collaborative efforts between educational institutions and industry stakeholders are underway. These partnerships aim to develop specialised training programs and certification initiatives tailored to equip workers with the necessary skills, thereby bridging the divide between talent availability and industry requirements in the evolving landscape of Industry 4.0.

Initiatives like the National Apprenticeship Promotion Scheme (NAPS), Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), and Pradhan Mantri Yuva Udyamita Vikas Abhiyan (PM-YUVA) are spearheaded by the Government of India. These programs are designed to foster apprenticeship training and skill enhancement among the nation’s youth, aiming to alleviate skill shortages and cater to the demand for industry-aligned competencies.

Final thoughts

India’s manufacturing industry is experiencing robust growth driven by government initiatives like Make in India and the Production Linked Incentive (PLI) Scheme, alongside infrastructure development projects. This growth has led to increased hiring, especially in sectors like automotive, electronics, and textiles, fueled by domestic demand and export opportunities. However, addressing skill shortages remains challenging, with initiatives like NAPS and PMKVY aiming to bridge the gap. With collaborative efforts, India is poised to strengthen its position in global supply chains and contribute significantly to economic growth.

Technological Advancements and Digital Transformation:

Technology is playing a pivotal role in shaping the future of the FMCG brands in India. From digital marketing and e-commerce to blockchain and AI-based analytics, companies are leveraging cutting-edge technologies to drive efficiencies and meet consumer demands. The rise of direct-to-consumer (D2C) models and the growth of online channels are reshaping traditional retail paradigms, offering new opportunities for market expansion and consumer engagement. It is forecasted that by 2040, a whopping 95% of all retail purchases will be made online.

Challenges and Opportunities:

Despite its promising outlook, the FMCG sector in India faces challenges such as data management, brand management, price wars, and catering to diverse demographics. In 2030, India will have 370 million Gen Z consumers with different purchasing priorities. FMCG businesses will need to keep abreast with the needs of the modern Indian consumer who is highly aware, exhibits a preference for health and nutrition, and has higher spending power. 

The Role of the People Supply Chain:

As per the TeamLease Report on Empowering the Essentials : A Deep Dive into India’s FMCG Workforce:

• Gender share in FMCG: The proportion of male associates is over 90% of the outsourced workforce.
• The distribution of outsourced associates is highest in Uttar Pradesh (14%) followed by Maharashtra (13%) and Andhra Pradesh (9%).
• Male associates have an educational attainment of up to the 12th grade & below at a rate of 51%, while female associates exhibit a higher rate of 60%.
• The YoY growth rate of overall associates is 1.2%.

In the dynamic FMCG industry, success hinges on the efficiency and effectiveness of the people supply chain. Hiring the right talent, reducing attrition, and enhancing productivity are critical factors for business success. Leveraging technology-enabled tools, streamlining onboarding processes, and investing in employee development are key strategies for optimizing the people supply chain. Additionally, fostering a culture of diversity and inclusion and providing opportunities for career progression are essential for employee engagement and retention.

In 2024, the Indian FMCG industry is poised for transformation as stakeholders respond to heightened customer awareness of pricing, packaging, quality, and sustainability. Adopting AI-powered solutions like ML and NLP (Natural Language Processing), along with manufacturing automation, will be crucial for delivering excellence. While the adoption of technology may unlock the path to a better understanding of consumer needs and wants, insights can only be derived and delivered by a dedicated and skilled workforce that is responsive to the needs of the customer.

By leveraging government support, embracing digital transformation, and optimizing people in the FMCG supply chain, FMCG companies can position themselves for sustained growth and success. With a strategic approach and a focus on innovation and agility, the Indian FMCG industry is poised to capitalize on emerging opportunities and overcome existing challenges, driving growth and prosperity in the years to come.

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Benefits of a multigenerational workforce

Each workforce from a different generation has a unique perspective shaped by their experiences, upbringing, and cultural influences; they bring varied work habits, expectations, and communication styles to the table. Thus, there are a lot of possibilities of beneficial perks from having a multigenerational workforce.

• Diverse perspectives: A mix of generations encourages diverse thinking and problem-solving approaches, leading to more creative and innovative solutions.
• Knowledge sharing: Older generations often possess valuable institutional knowledge and expertise gained through years of experience.
• Technological fluency and innovation: Younger generations are more adept at leveraging technology, digital tools, and platforms. They can help older colleagues navigate new technologies and drive innovation within the organisation.
• Enhanced communication skills: Encouraging interaction among employees of different age groups can improve communication skills across the organisation, leading to better collaboration and teamwork.
• Employee engagement and retention: A diverse workforce that values inclusivity and respects different perspectives tends to foster a sense of belonging among employees. This can lead to higher engagement and job satisfaction, ultimately improving employee retention rates.
• Adaptability and resilience: Different generations bring unique strengths and coping mechanisms, enabling the organisation to navigate challenges more effectively.
• Succession planning and leadership development: Organisations can develop a pipeline of future leaders from diverse ages. This helps ensure continuity and sustainability within the organisation, even as older employees retire or transition to new roles.

Challenges of a multigenerational workforce

Managing a multigenerational manpower poses several challenges due to the diverse perspectives, values, work styles, and communication preferences among employees of different age groups. Below are several of the main challenges:

• Communication gap: Each generation’s preference for different communication methods creates a gap.
• Work preferences: Balancing different generations’ attitudes toward work preferences can be challenging for managers.
• Technology adaptation: Younger generations are tech-savvy, while older workers may struggle to adapt to new technologies.
• Conflict resolution: Misunderstandings, stereotypes, and biases based on age can arise and hinder teamwork and collaboration.
• Leadership styles: Different generations may have different expectations of leadership and management.
• Knowledge transfer and succession planning: As older workers retire, effective knowledge transfer to younger generations is fundamental for maintaining organisational functions.
• Retention: Understanding and catering to employees’ diverse needs and preferences across different age groups is essential for retaining top talent.

Bridging the generational divide

To address the evolving needs of a multigenerational manpower and leverage the unique strengths each generation brings, organisations can implement several strategies:

• Skill-based hiring: Prioritise hiring based on skills, competencies, and potential contributions rather than just educational credentials or experience. Consider consultants or contract staffing for temporary specialised skills and expertise.
• Effective communication: Implement communication strategies that cater to diverse generational preferences. Effective communication reduces attrition by fostering employees’ sense of belonging and engagement.
• Adaptable training programs: Provide diverse training opportunities tailored to various learning styles and skill levels. Offer both traditional classroom and online modules, along with on-the-job experiences.
• Cross-generational mentoring: Encourage cross-generational mentorship for knowledge exchange and skill development.
• Embrace diversity and inclusion: Foster an inclusive environment where all generations feel valued and empowered to share their unique perspectives.
• Agile talent management: Adopt agile talent management to swiftly adapt to changing workforce needs. This may include hiring consultants or using contract staffing to fill temporary skill gaps and workload fluctuations.

Flexibility in work arrangements: Recognising the importance of work-life balance, offer flexible arrangements to accommodate diverse generational needs. This promotes satisfaction, reduces attrition, and enhances employee well-being.

Temporary teams comprising contract workers are vital for today’s agile workforce model. Focused on outcomes, they bring together diverse skills and backgrounds, enabling success in person or remotely. Professional staffing firms have been building teams from various yet curated talent pools for a while now with great success.

Conclusion

Working with a multigenerational manpower offers both opportunities and challenges. Organisations must prioritise skill-based hiring, effective communication, and adaptable training to meet market needs. Embracing diversity and inclusivity, fostering cross-generational collaboration, and emphasising continuous learning enable sustainable growth in the age of AI and digital transformation. Addressing communication gaps and work preferences is crucial, and solutions like cross-generational mentoring and hiring consultants help bridge generational divides for resilient, future-ready workplaces.

Let’s collaborate to bridge generational divides, foster innovation, and drive sustainable growth. Connect with us to explore tailored strategies and experienced professionals who can elevate your workforce to new heights. CONTACT US

Surging Opportunities and Hiring Trends in 2024

Fueled by a surge in travel, India experienced a remarkable 50% increase in hiring for tourism and hospitality positions between December 2022 and 2023. The World Travel and Tourism Council (WTTC)’s Economic Impact Research has forecasted India’s ascent to become the third most influential market in the global travel and tourism industry. Looking ahead, the upcoming year is poised for a 15-20% growth in hiring within the sector of tourism and hospitality in India, with a particularly notable surge expected in the fourth quarter of fiscal year 2024, projecting an impressive uptick of 68% compared to the preceding quarter.

Ministry of Tourism data reveals that in 2022, religious tourism welcomed a staggering 1439 million visitors, generating ₹1.34 lakh crore in revenue from these sacred sites. Projections indicate that by 2028, the sector is poised to yield a revenue of 59 billion, concurrently creating 140 million temporary jobs and permanent jobs by 2030. The Ayodhya Ram Temple’s religious tourism alone is estimated to contribute nearly 25,000 employment opportunities across roles such as chefs, front desk managers, housekeeping staff, and tour guides and significantly contributing to the growth of hospitality industry in India.

As the industry evolves, the emphasis on sustainability and responsible tourism is creating novel job avenues, including roles in eco-tourism and conservation. Additionally, upskilling the existing workforce is deemed crucial to meet the demands of this evolving landscape. Government initiatives, such as the Incredible India campaign and infrastructure projects, are estimated to play a pivotal role in job creation. Consequently, the travel sector is expected to be brimming with opportunities in 2024.

On the hospitality front, major players like the Indian Hotels Company Limited (IHCL), known for operating Taj Hotels, are gearing up to expand their footprint by adding 20 hotels across various cities. Similarly, Lemon Tree Hotels, another prominent player, is set to open 20 establishments in CY2024, spanning locations in India, Nepal, and Bhutan. Accor has outlined plans for a pipeline of five hotels in the coming year. In comparison, Marriott International and Wyndham are strategically positioned for substantial growth, with plans to add 60-plus and 40 hotels in the next few years. These ambitious expansion plans underscore the dynamic and flourishing landscape for the future of the hotel industry in India.

How Budget 2024 will impact the tourism and hospitality Industry in India

The 2024 budget announcement unveils a promising trajectory for India’s vibrant Travel & Tourism industry, buoyed by the successful hosting of G20 meetings across sixty locations. This global platform has not only showcased India’s cultural richness and economic dynamism but has also positioned the country as a premier destination for business and conference tourism. At the heart of the budget’s agenda lies the strategic development of iconic tourist centres, complemented by robust branding and global marketing efforts. By prioritising quality standards through establishing rating frameworks, the government aims to enhance visitor experiences and bolster the industry’s competitiveness on the global stage. Allocating long-term, interest-free loans to states for tourism infrastructure development underscores the commitment to fostering local entrepreneurship and sustainable tourism growth.

In response to the burgeoning demand for domestic travel, the budget allocates resources for enhancing tourism infrastructure, particularly in scenic locales like the Lakshadweep islands. Investments in port connectivity, tourism amenities, and infrastructure projects aim to stimulate domestic tourism, spur economic activity, and create employment opportunities in these regions. Overall, the 2024 budget sets a strategic course for leveraging India’s diverse tourism potential as a catalyst for inclusive growth and development, fostering economic prosperity while preserving and promoting the nation’s rich cultural heritage.

Closing Note

India’s tourism and hospitality industry experienced significant recovery and growth in 2023, marked by increased domestic and international demand, major global events, spiritual & religious tourism, and expansions in hotel chains. Looking ahead to 2024, the budget announcement sets a clear vision for enhancing India’s tourism offerings. Embracing sustainability and innovation will be key to driving inclusive growth and maintaining competitiveness.

Inventory in the Telecom Sector: In the telecom sector, inventory encompasses a range of tangible and intangible assets crucial for operations. This includes physical infrastructure such as cell towers, network equipment, and data centers. Additionally, the telecom spectrum, a finite and valuable resource, is a significant component of inventory. As technology evolves, inventory in the telecom sector in India extends to software systems, cybersecurity measures, and intellectual property.

The Future of the Telecom Industry:

5G Revolution: The advent of 5G technology is set to revolutionize the telecom industry. With faster speeds, low latency, and the capacity to connect numerous devices simultaneously, 5G opens avenues for innovation in healthcare, smart cities, and various industries. Telecom companies investing in 5G infrastructure will be at the forefront of this transformation.

IoT Integration: The Internet of Things (IoT) is another frontier that the telecom industry is poised to conquer. The interconnectivity of devices, from smart homes to industrial sensors, relies on robust telecom networks. The ability to facilitate seamless communication between devices will be a key determinant of success in the IoT era.

AI and Automation: Artificial Intelligence (AI) and automation are reshaping how telecom services are delivered. From predictive maintenance of network infrastructure to chatbots handling customer queries, AI enhances efficiency. Telecom companies integrating AI will optimize operations and enhance customer experiences.AI has shaped the sector as demand for faster, more reliable, and more efficient communication networks rises.

The telecom industry in India stands at the cusp of transformative change. While challenges persist, the industry’s resilience and capacity for innovation are evident. Navigating the complex regulatory landscape, embracing digital transformation, and investing in cutting-edge technologies will be the hallmarks of success for telecom companies looking to shape the future. As India advances into a new era of connectivity, the telecom industry’s role as a catalyst for progress is more critical than ever.

Workforce landscape among industries, cities and functions

In the dynamic workforce landscape, specific industries are at the forefront, showcasing evolving and strategic approaches in shaping employment trends. TeamLease latest report “Employment Outlook Report H2 FY24“ highlights critical findings that are reshaping the employment landscape across a multitude of jobs. Some key highlights include:

• Industries gearing up: Key industries leading in incremental workforce expansion include Educational Services (86%), Healthcare and Pharmaceuticals (86%), and Electric Vehicles and Infrastructure (85%).
• New talent onboarding: Prominent industries for incremental new hiring feature Educational Services (89%), Electric Vehicle and Infrastructure (88%), and Healthcare and Pharmaceuticals (87%).
• Replacement hiring surge: Industries at the forefront of incremental replacement hiring are Power and Energy (88%), Fast Moving Consumer Durables (85%), and Healthcare and Pharmaceuticals (84%).
• City dynamics: Leading the incremental workforce expansion race are Bangalore (89%), Chennai (83%), and Mumbai (82%).
• Talent hubs: In the realm of incremental new hiring, Bangalore (87%), Mumbai (86%), and Chennai (83%) take centre stage.
• Strategic workforce renewal: Mumbai (82%), Bangalore (78%), and Chennai (76%) are spearheading incremental replacement hiring initiatives.
• Functional excellence: For incremental workforce expansion, key functions include Human Resources (71%), Marketing (70%), and Information Technology (70%).
• Talent onboarding prowess: In the domain of incremental new hiring, Human Resources (92%) and Marketing (87%) demonstrate prominence.
• Strategic replacement: When it comes to incremental replacement hiring, Information Technology (94%) and Human Resources (89%) lead the way.

The dynamic nature of the business environment, coupled with technological advancements and shifting market demands, necessitates a strategic and data-driven approach to staffing decisions. By leveraging relevant references, data, and citations, organisations can make informed choices that align with their long-term goals and contribute to a resilient and adaptive workforce.

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Tech behemoths putting a stop to hiring?

Silicon Valley’s responses to economic downturns have impacted India’s tech industry, with major companies halting hiring activities due to the global economic slump. Job listings for Indian tech giants have dropped by 90% compared to 2022, reflecting challenges in profit growth, reorganisation, and project development. Key sectors like IT and FMCG, historically driving India’s growth, are weakening, with red flags raised due to project delays, infrastructure slowdown, rural demand weakening, and stagnant agricultural output. The economic and financial outlook for 2024 may diverge significantly from current projections, raising concerns about potential surprises for the country.

Kartik Narayan, CEO – Staffing, TeamLease Services Ltd, asserts, “The likelihood of layoffs in India in 2024 is unlikely except for specific sectors being affected. Over 35,000 people have lost their jobs at Indian startups in the last two years. Job cuts are expected to continue in the startup space into 2024 in the pursuit of profitability”.

Women’s participation in the workforce may be impacted

Female job seekers face heightened scrutiny, impacting women’s participation in the workforce amid a competitive job market. This poses a setback to broader initiatives aimed at enhancing women’s workforce participation.

The talent acquisition industry is also undergoing rapid change in 2024, with organisations needing to keep up with trends in candidate expectations, workforce dynamics, and technology to remain competitive in recruitment efforts. As businesses adapt to the evolving landscape, talent acquisition becomes crucial in securing skilled individuals, especially in the dynamic job market in India.

India’s growth outlook

Despite external challenges, India’s resilient growth is projected at 6.2% in 2024 by the United Nations. All sectors are set for growth, backed by a strong financial sector and accommodating monetary policies. Overall, 2024 is expected to balance inflation and economic expansion, fostering improved growth sentiments. The commitment to hiring, workforce expansion, and rehiring is driven by economic expansion, regulatory shifts, and technological progress, offering diverse opportunities for job seekers across industries.

“It is possible that we will be the third largest economy by 2027-28, and our GDP will cross USD 5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least USD 30 trillion in terms of economy,” FM Sitharaman said at the Vibrant Gujarat summit.

The job market in India in 2024 is a complex landscape influenced by global and national economic factors. While challenges persist, there are opportunities for growth, innovation, and talent acquisition. Organisations need to adapt to the evolving dynamics, leveraging technological progress and regulatory shifts to contribute to India’s economic expansion and job market momentum.

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Service Assurance in Telecom : Ensuring Seamless Connectivity

In the dynamic telecom landscape, service assurance plays a pivotal role in maintaining the quality and reliability of services. It encompasses strategies and practices aimed at proactively ensuring that telecom services meet or exceed customer expectations. Key aspects include:

• Network Monitoring: Constant monitoring of network performance is crucial. This involves real-time analysis of network traffic, identifying bottlenecks, and ensuring optimal data flow.
• Quality of Service (QoS): QoS measures the overall performance of Indian Telecom Service. It encompasses factors such as data speed, latency, and reliability, all of which contribute to a seamless user experience.
• Fault Management: Swift identification and resolution of faults within the network are paramount. Service assurance practices include robust fault management systems to minimize downtime and service interruptions.
• Customer Experience Management: Understanding and enhancing the customer experience is a focal point. Telecom providers invest in tools and technologies to gather insights into customer behavior and preferences, tailoring services accordingly.

Telecom Recruitment: Nurturing Talent for Industry Growth

Behind the scenes of seamless connectivity and service excellence, a robust telecom recruitment process plays a critical role in sourcing and nurturing talent. The telecom industry demands a diverse skill set to navigate its complexities.

Network Engineers: The backbone of telecom, network engineers design, implement, and maintain the infrastructure necessary for communication. With the transition to 5G and beyond, their role in shaping the future of connectivity is pivotal.

Data Analysts: In an era of big data, telecom companies rely on data analysts to derive meaningful insights. From user behavior analysis to network optimization, data analysts contribute to informed decision-making.

Cybersecurity Experts: With the rise of cyber threats, ensuring the security of telecom networks is paramount. Cybersecurity experts play a crucial role in safeguarding sensitive data and maintaining the integrity of communication channels.

Customer Support Professionals: Frontline ambassadors of telecom companies, customer support professionals ensure that users receive timely assistance. Their role extends from troubleshooting technical issues to providing guidance on services.

As the telecom industry continues to evolve, the synergy between diverse services, effective service assurance, and a skilled workforce remains imperative. Navigating the dynamic spectrum of telecom services requires a delicate balance of technological innovation, customer-centricity, and a talent pool equipped to drive the industry forward. In this ever-connected world, the harmonious interplay of services, assurance, and recruitment propels the telecom industry toward new horizons.

EV Employment Boom

The Ministry of Skill Development and Entrepreneurship anticipates that the electric vehicle companies in India are going to generate one crore direct jobs by 2030, with an additional five crore indirect Electric Vehicle jobs in India. This surge in employment will necessitate a focus on technical and specialised skills to meet the escalating demand. While office roles will increasingly require expertise in artificial intelligence, analytics, and app development, the manufacturing sector will continue to rely on a steady supply of blue-collar workers.

Challenges: Skill Gap in the EV Industry

India’s burgeoning youth population, comprising over 65% of individuals under 35 years old, holds the potential to position the country as a global powerhouse and the skill capital of the world. This dynamic workforce, primarily composed of Gen Z and millennials, can drive India’s transition into the digital age.

Despite this potential, there are significant concerns regarding the existing skill gap in the workforce. One industry grappling with a notable challenge is the electric vehicle (EV) sector, which is hindered by a shortage of technicians and engineers trained in EV charging infrastructure. The specialised skill set required for the installation, maintenance, and troubleshooting of EV charging stations is currently in short supply. Additionally, there is a high demand for professionals with expertise in customer service and technical support tailored specifically for EV charging stations and Electric Vehicle companies in India. The availability of such skilled individuals is limited.

Bridging the gap between skill & demand has become crucial given the circumstances for the Electric Vehicle segment growth in India.

Addressing the Skills Discrepancy in India

Skill development is a fundamental prerequisite for growth, especially in an industry undergoing transformation. As the adoption of electric vehicles continues to increase, there is a pressing need to create a sustainable ecosystem that nurtures the long-term growth of this sector. Currently, traditional educational institutions encounter difficulties in addressing the talent requirements of industries like electric vehicles, given the ongoing advancements in technologies and the constant evolution of requirements. Understanding the skills required for Electric Vehicle Jobs becomes essential in preparing the workforce for the challenges and opportunities presented by the dynamic EV landscape.

Here are some strategies to bridge the skill gap in the EV industry:

Education and Training Programs: Establish specialized education and training programs in collaboration with universities, technical schools, and industry associations. These programs should cover a range of skills, including battery technology, electric propulsion systems, software development, and automotive engineering.

Industry-Academia Collaboration: Foster strong partnerships between academia and industry. This collaboration can involve joint research projects, internships, and guest lectures by industry experts. This ensures that academic programs align with industry needs and provide students with practical, up-to-date knowledge.

Professional Development for Existing Workforce: Offer continuous training and professional development opportunities for existing automotive industry professionals. This could include workshops, seminars, and online courses to update their skills and keep them abreast of the latest advancements in EV technology.

Apprenticeship Programs: Implement apprenticeship programs where individuals can gain hands-on experience working with EV technologies. This can be done in partnership with companies in the EV supply chain, allowing apprentices to learn directly from experienced professionals.

Collaboration with Vocational Schools: Partner with vocational schools to create specialised programs that focus on specific technical skills required in the EV industry. This can include training for technicians, electricians, and other roles critical to the EV ecosystem.

Online Learning Platforms: Utilise online learning platforms to offer accessible and flexible training modules. These platforms can provide a wide range of courses, from basic EV concepts to advanced engineering principles, allowing individuals to upskill at their own pace.

Final Thoughts

India’s ambitious goals for doubling its automotive industry size and transitioning to electric vehicles present significant opportunities. However, a crucial challenge lies in the existing skill gap in the Indian workforce. To address this gap, strategic initiatives such as specialized education programs, industry-academia collaboration, and government support are essential. Bridging the skills discrepancy is not only vital for meeting industry demands but also for leveraging the potential of India’s young workforce.

At TeamLease, we recognise the urgency of closing the skill gap in the evolving landscape. Our suite of services includes skilling, re-skilling, and learning & development (L&D) programs tailored to meet the specific needs of each sector. With a proven track record in staffing and recruitment, TeamLease is committed to being a catalyst in bridging the skills discrepancy and ensuring a seamless transition to the future.

Unlock the potential of India’s workforce with TeamLease’s industry-aligned skilling and recruitment solutions. Let’s together shape a skilled and empowered EV workforce for a sustainable future. Contact Us to know more about our services!

Contract staffing: An integral component of staffing

Within the ambit of staffing, contract staffing plays a crucial role in enhancing organisational success. Recent data reveals a substantial surge in freelancers and contract workers, particularly in IT, e-commerce, and startups. One trend has taken centre stage and captivated the attention of employers and job seekers alike: the remarkable surge in hashtag temp or contract staffing across sectors and industries. A considerable number of professionals in India now favour the flexibility offered by contract work. Notably, this year’s festive hiring saw a tremendous increase in volume, with a focus on hiring temporary or contract workers.

The surge in contract staffing in India is driven by the demand for flexibility, cost-efficiency, and specialised skills for short-term projects. Startups and SMEs benefit from scalability without long-term commitments, while outsourcing administrative tasks adds to the appeal. Global trends, changing workforce preferences, and seasonal demand also contribute to the shift, allowing organisations to stay agile in a competitive environment and mitigate certain risks associated with permanent employment. NITI Aayog made some remarkable revelations and forecasts in its report titled ‘India’s Booming Gig and Platform Economy.’ It projected the total employment potential of the gig economy to be 23.5 million (4.1% of the total workforce) by the year 2029–30. This will be a massive leap of 200% from the 7.7 million workers engaged in the sector at present.

Our Employment Outlook Report H2 FY24 shows that the retail industry plans to add 23.25 million square feet of mall space during the fiscal year 2023–24. The industry is implementing a hiring initiative covering both the permanent and contractual workforce. This proactive workforce adjustment highlights the sector’s commitment to sustained growth and meeting dynamic market demands.

All of this is happening at a time when the country is increasingly focusing on skill development and vocational training for their workforce. The country’s education system is realigning its goals and curriculum with industry standards. Contract workers, however, have a number of formidable challenges and concerns when it comes to safety, security, skill development, and the formal work environment.

What is not a function of staffing?

While we discuss what is staffing, understanding what is not a function of staffing, also becomes an integral part of refining perceptions in this dynamic field. In exploring the nuances of staffing, it’s crucial to delineate what falls outside its purview. Despite its pivotal role in organisational success, staffing does not encompass functions such as strategic planning, financial management, and marketing, each possessing its unique intricacies. While staffing is undeniably about people and their roles, it is not the overarching strategy that governs the entire organisation.

Staffing myths often permeate the realm of human resources, contributing to misconceptions that can hinder effective workforce management. One prevalent myth suggests that hiring is solely the responsibility of the HR department. To dispel doubts and clarify the multifaceted nature of staffing, it’s essential to recognize that staffing extends beyond recruitment and encompasses various functions essential for nurturing a thriving and resilient workforce. Find out which is not a function of staffing:

• Not exclusively an HR function: Contrary to popular belief, staffing is not the exclusive domain of the HR department. It collaborates across departments, aligning human capital strategies with overarching business objectives.
• Not a one-time activity: Staffing is dynamic, adapting to changing business landscapes. It’s an on-going, iterative process responding to market shifts, technological progressions, and organisational evolution.
• Not solely about filling positions: The process goes beyond filling positions, emphasising quality over quantity by aligning the workforce with the organisation’s strategic direction.
• Holistic organisational strategy: Staffing is crucial but not a standalone solution. It’s part of a broader strategy encompassing effective leadership, clear communication, and a supportive work environment.
• Legal compliance: While staffing involves adherence to employment laws, overall legal compliance is a distinct function, often handled by legal departments.

Understanding the scope of staffing and its multifaceted nature is essential for recognising its pivotal role in organisational success. Our latest report on Optimising People Supply Chain,’ provides valuable insights into mastering the strategic nuances of staffing and fine-tuning your approach to workforce optimisation.

At TeamLease, we advocate a strategic and holistic approach for constant development. Our services include contract staffing, hiring, learning, degree apprenticeships, compliance solutions, and more. For deeper information on our services and to fulfil your staffing requirements, contact us.

Growth Drivers for the Retail and Logistics Sector in India:

Several factors contribute to the growth of India’s retail and logistics sector, making it one of the most dynamic industries in the country.

• Production:

The retail sector has been bolstered by a combination of domestic and export-oriented production, driven by government initiatives like the Production-Linked Incentive (PLI) scheme. This has not only led to a rise in the variety and availability of products but also generated employment opportunities.

• Consumption:

Due to several factors, India’s retail and logistics sectors have been buoyed by increased consumption. Rising disposable incomes, falling inflation, and a surge in rural demand have created a conducive business environment. As more people access goods and services, the demand for retail and logistics professionals has increased significantly.

World-Class Logistics Hubs:

India is rapidly upgrading its logistics infrastructure for the modern retail sector with advanced, technology-driven logistics hubs featuring automation, AI/ML-based forecasting, and streamlined supply chain management. This transition reduces the reliance on an unskilled workforce, resulting in a more efficient workforce. Skilled professionals who can navigate the intersection of technology and logistics are in high demand to oversee these sophisticated facilities. Their expertise will play a critical role in optimising operations and meeting the evolving needs of the retail industry.

Retail & Logistics Jobs in Demand:

The growth of the retail and logistics sectors naturally results in an increased demand for skilled professionals to manage and streamline operations. Here are some profiles and jobs that will be in high demand in the coming years:

• Supply Chain Managers

Supply chain managers oversee the overall flow of goods, ensuring an efficient and cost-effective movement from production to the end consumer. Their role is crucial in maintaining a smooth supply chain.

• Logistics Experts:

Logistics professionals are responsible for planning and organising the movement of goods, optimising routes, and ensuring timely delivery.

• Distribution Specialists:

Distribution professionals focus on delivering products to customers most efficiently, ensuring customer satisfaction and cost-effectiveness.

• Warehousing Managers:

Warehousing managers oversee the storage of goods, ensuring that inventory is organised, safe, and readily available when needed.

The retail and logistics sector in India is projected to create around 10 million jobs in the next five years, offering many opportunities for skilled individuals.

Final Thoughts

India’s retail and logistics sector in India is experiencing phenomenal growth, offering lucrative career opportunities for skilled individuals. As the industry expands, it is becoming more technologically advanced and efficient, requiring a workforce equipped with the necessary skills and knowledge. With the right education and training, individuals can seize the vast potential offered by this thriving sector, contributing to India’s economic growth and transformation.