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Media Coverage
High attrition keeps private banks on their toes

High attrition keeps private banks on their toes

“Private Banks face an elevated risk of attrition, especially with the entry of new players like Jio Financial Services, aggressively expanding their workforce to meet strategic goals."

High staff churn in India’s financial sector to persist in FY24

High staff churn in India’s financial sector to persist in FY24

"The demand for salespeople (selling personal, home, agriculture, and other loans) is huge."

Tech Integration And Partnerships Trim PSU Banks’ Employee Headcount

Tech Integration And Partnerships Trim PSU Banks’ Employee Headcount

“These partners are now directly working with banks and catering to the requirements. So, the need for main banks to hire is going down, and going to a third party also helps them in many ways.”

Banking & financial companies go all out to retain staff

Banking & financial companies go all out to retain staff

The annual attrition in frontline roles could be as high as 120% where the entire workforce is getting churned on a rolling 12-month basis.

Media Release
FMCG companies should focus on increased hiring, retention, and productivity

FMCG companies should focus on increased hiring, retention, and productivity

March 15-2024

  • Mumbai, Bangalore, Chennai, Delhi, and Hyderabad are the top cities experiencing growth in intent to hire
  • The top three functions experiencing significant hiring in the industry are sales, marketing, and information technology
Bengaluru, March 15, 2024: TeamLease Services (NSE:TEAMLEASE), India's leading staffing conglomerate revolutionizing employment, employability, and ease of doing business, has released a report on the country’s Fast-Moving Consumer Goods (FMCG) sector, unveiling a wealth of transformative insights poised to reshape the industry landscape. It identifies a significant gender disparity in the FMCG workforce, with male associates comprising over 90% of the outsourced workforce. The report, using internal data from the company’s Associates Database and secondary research, offers invaluable strategic guidance for stakeholders with hiring and attrition trends. The report delineates hiring, attrition, and productivity (HAP) as the three vectors to optimize their people supply chain. It enumerates proven strategies that can help organizations hire faster, curb attrition, and enhance productivity. Some of the recommendations include the exploration of fresher hiring, the implementation of psychometric assessments for better matching, along with investments in copay models for L&D that can help trainees fast-track their career growth. Mumbai, Bangalore, Chennai, Delhi, and Hyderabad are among the top five Indian cities that showcase a strong intent to hire in the FMCG sector. The report highlights a significant growth in new hiring for sales, marketing, and IT, along with office services, human resources, and blue-collar job roles. According to the report, metros have the highest attrition rates (27%), followed by Tier 1 and 2 cities (26%). People in Tier 3 and 4 cities have lower attrition rates than those in metros, which is a reflection of the relatively lower level of demand in rural markets. The report highlights that the average age of active associates is over 36 and that of the attrited ones is nearly 34. Indicating that younger employees tend to attrite more. Correspondingly, the tenures of active and attrited associates is 1.7 and 1.1 years respectively.  The report also categorizes attrition into two distinct types: 'regrettable' and 'non-regrettable'. Regrettable attrition, accounting for 21% of departures, involves employees whose exceptional performance resulted in incentive earnings that exceeded the company's average incentives. On the other hand, non-regrettable attrition, which represents 39% of the attrition rate, occurs in cases where employees do not earn any incentives. Teamlease Services also reports that the average CTC for current and attrited associates is the highest in southern India. Notably, while the gap between the salaries of active and attrited associates is negligible, the gap in incentives earned is significant. This indicates that incentives are much stronger predictor of attrition rather than salaries, as salaries seem quite inelastic. With India poised to become the third-largest economy and with significant government support, the FMCG industry is projected to reach substantial revenue milestones in the coming years. Government initiatives like FDI allowances and the PLI scheme are fueling industry growth and export potential. E-commerce expansion and direct-to-consumer models are paving the way for market penetration, particularly in rural areas. Adapting to evolving consumer preferences through continuous innovation and product diversification is crucial, as India's expanding middle-class and youthful demographic ensures sustained market expansion. In such a scenario, leveraging technology for operational efficiency, data-driven decision-making, and optimizing supply chains is crucial. Collaborating with traditional Kirana stores through enhanced digital connectivity opens doors for mutual growth and market expansion, highlights the report. Kirana stores, the backbone of our country’s retail sales, will continue to remain relevant in the foreseeable future. However, Modern Trade and E-commerce, especially Quick-commerce will make rapid strides as there’s a distinct change in consumer behaviour being seen. No longer are such platforms being used for impulse purchases alone, but for regular bulk purchases too. Kartik Narayan, CEO of Staffing, TeamLease Services Limited, said, "The report unveils critical insights into the evolving landscape of India's FMCG sector, offering stakeholders invaluable strategic guidance in navigating opportunities and challenges. From harnessing technology and innovation to addressing workforce dynamics, organizations must embrace agility and foresight to thrive in this dynamic market environment.” Balasubramanian A, Vice President & Business Head of TeamLease Services Limited, said, "With top cities like Mumbai, Bangalore, Chennai, Delhi, and Hyderabad experiencing significant growth in intent to hire, the FMCG sector is poised for robust workforce expansion and talent acquisition. This trend signals a positive outlook for industry players looking to capitalize on emerging opportunities and scale operations effectively.” He further added, "The gender disparity in the FMCG workforce, with male associates comprising over 90%, underscores the need for concerted efforts to promote gender diversity and inclusivity in the industry. Embracing diversity not only fosters innovation but also reflects a commitment to creating a more equitable workplace." As India's FMCG industry stands at a pivotal juncture, the findings of TeamLease Services's FMCG Report guide industry players towards sustainable growth, innovation, and success in the ever-evolving consumer goods market. In the FMCG sector, as per the report, effective data management is crucial. Companies have vast amounts of consumer data, which, when analyzed adeptly, can yield valuable insights to drive innovation and enhance customer engagement. Also, maintaining a positive brand image is important for global success, necessitating careful navigation of varying regulatory standards across different markets. Listing challenges, the report mentions that the industry also grapples with intensified competition in online retail, triggering price wars and escalating R&D costs for major players. Moreover, the sector faces the challenge of catering to a diverse demographic spectrum encompassing Gen X, millennials, and Gen Z, each with distinct preferences and priorities. The TeamLease Services report suggests embracing technology, innovation, and strategic collaborations while addressing regulatory complexities and consumer demands for sustained success in this dynamic market landscape. At the same time, organizations must prioritize hiring, minimizing attrition, and enhancing workforce productivity to capitalize on emerging opportunities and navigate market uncertainties effectively. About Teamlease Staffing: TeamLease Services is one of India’s leading people supply chain companies offering a range of solutions to 3500+ employers for their hiring, productivity and scale challenges. A Fortune India 500 company listed on the NSE & BSE, TeamLease has hired 20 lakhs+ people to date. One of India’s fastest-growing employers, TeamLease also operates India’s first NAAC Accredited Skill University and India’s fastest-growing PPP Degree Apprenticeship Program. The Company offers solutions to large, medium and small clients across the 3Es of Employment (over 2.8 lakh associates/trainees), Employability (over 5.5 lakh students) and Ease-of-doing Business (over 1000 employers). In FY2015, TeamLease rolled out DA (Degree Apprenticeship) to provide on-the-job training to apprentices.

India Inc still reluctant to integrate women into workforce; more than 72% of women feel gender bias still exists: TeamLease study

India Inc still reluctant to integrate women into workforce; more than 72% of women feel gender bias still exists: TeamLease study

February 9, 2021

Gender equality initiatives at India Inc are from a compliance perspective rather than bridging the gap states TeamLease report. According to the report, more than 72% of women feel gender discrimination is still prevalent at workplace.

Apprenticeship to boost 25 % employment opportunities in Hyderabad in 2019

Apprenticeship to boost 25 % employment opportunities in Hyderabad in 2019

January 2, 2019

Hyderabad, 2nd January, 2019: Apprenticeship programs are gaining traction in helping industries bridge the skill gap and stay ahead of changing employer’s demands.

The Stipends Commanded By Apprentices Are Higher Than Minimum Wages States Teamlease Report

The Stipends Commanded By Apprentices Are Higher Than Minimum Wages States Teamlease Report

March 12, 2019

National, March 12th, 2019: The growing demand for skilled talent coupled with revisions in the apprenticeship act seems to be positively impacting the apprenticeship eco-system states TeamLease Skill University Stipend Primer Report

Media Mention
Harnessing the Sun: A Surge in Job Opportunities in India’s Solar Industry

“As a result of India’s dedication to sustainable development and renewable energy, employment opportunities in the solar industry have increased dramatically.”

Subburathinam P
  • CSO, Staffing

Renewable India, March 11, 2024
Navigating Barriers and Celebrating Achievements: Women Leaders on International Women’s Day 2024

"We are committed to creating a culture where everyone feels valued, respected, and empowered to bring their best selves to work. We recognize women’s vital role in driving innovation, growth, and social impact across various sectors.”

Subburathinam P
  • CSO, Staffing

CXO Today, March 07, 2024
FMCG companies should focus on increased hiring, retention, and productivity to seize new opportunities amid uncertainties

"With top cities like Mumbai, Bangalore, Chennai, Delhi, and Hyderabad experiencing significant growth in intent to hire, the FMCG sector is poised for robust workforce expansion and talent acquisition.”

Balasubramanian A
  • VP & Business Head

Zee Business, March 01, 2023
Ecomm companies like Flipkart, Zomato, and Amazon start hiring women for night shifts

"Notably, in the gig economy dominated by the ecommerce and logistics sector, the hiring of women surged by over 40% in 2023 compared to the preceding year 2022.".

Kartik Narayan
  • CEO - Staffing

The Economic Times, March 01, 2024