TEAMLEASE APPOINTS NEW MANAGING DIRECTOR; CO-FOUNDERS TRANSITION ROLES AFTER 25 YEARS

Bengaluru, India, Dec 04, 2025 - TeamLease Services Limited (TeamLease/Company) (NSE: TEAMLEASE, BSE: 539658), one of India’s largest staffing companies, today announced a leadership transition as part of the company’s long-term succession planning and governance strategy.

The Board of Directors of TeamLease has appointed Ms. Suparna Mitra as the Managing Director & Chief Executive Officer (MD & CEO) of TeamLease Services Limited, effective February 02, 2026, to succeed Mr. Ashok Reddy, the current Managing Director & CEO. Mr. Manish Sabharwal will step down from his executive responsibilities but continue as a Non-Executive Non-Independent Director. Mr. Narayan Ramachandran will continue in his role as the Chairman.

Ashok, in his new role as Executive Vice Chairman, will work with Suparna to ensure a seamless transition and support her on long-term strategy, horizontal projects and building adjacencies.

Ashok commented on today’s announcement, “This transition is the logical next step for Manish and me. Our executive roles were always distinct from our board member and shareholder roles, which continue. The next orbit for Teamlease - higher margins, faster growth and institutionalisation - will benefit from leadership instincts that are fresh and different from ours. Suparna brings a powerful combination of strategic thinking, consumer insight, and technology orientation that accelerates TeamLease’s mission of putting India to work.”

About Suparna Mitra

Suparna joins TeamLease from Titan Company Limited, where she most recently served as the CEO of the Watches & Wearables Division. An alumna of IIM Calcutta, where she completed her MBA, and Jadavpur University, where she earned her Bachelor’s degree in Electrical Engineering, Suparna began her career as a management trainee with Hindustan Lever Limited. She worked with Arvind Brands Limited as Business Head- Lee, before joining Titan in 2006 as Global Marketing Head. She took on progressively larger leadership roles in Titan over the years. Under her leadership, Titan’s Watches & Wearables division delivered 2x revenue growth in three years to reach Rs. 4,500cr in FY 2024-25, strengthened market leadership in watches through premiumization, and built a category-defining wearables business. She brings over three decades of deep experience across technology-led transformation, retail, digital commerce, and organisational scale management, having led teams of over 3,000 employees and complex P&Ls. Recognised repeatedly among India’s Most Powerful Women in Business, Suparna also serves as an Independent Board Member of Swiggy and a Member of the Board of Governors of IIM Kozhikode.

Suparna said, “I am honoured to join TeamLease at such a pivotal moment for India and its employment landscape. TeamLease has built a unique foundation across staffing, skilling, and compliance, touching millions of lives every year. I look forward to working with the Board and the leadership team to unlock the next phase of growth, digital innovation, and social impact.”

Suparna Mitra to join as MD & CEO of TeamLease

Statement from Narayan Ramachandran, Chairman, TeamLease “We are delighted to welcome Suparna as the new MD & CEO of TeamLease. She is a proven transformation architect who has scaled large consumer and technology-driven businesses with a rare blend of strategic foresight and operational discipline. Her cross-sector experience and deep understanding of customers, technology, and people make her an ideal leader for the next chapter of TeamLease.” “On behalf of the Board, I would like to express our deep gratitude to Manish and Ashok. Their entrepreneurial leadership has shaped TeamLease into India’s foremost human capital powerhouse, listed, profitable, and purpose-driven. Over the past 23 years, TeamLease has grown to revenues of over ₹11,000 crore, pan-India operations across 800+ locations, and a 4x growth in EBITDA since listing. They steered the company through multiple economic cycles, including the 2008 recession and the 2020–21 pandemic while expanding into new business verticals such as NETAP, Specialised staffing, HRTech, RegTech, and EdTech. Their vision has impacted millions of careers and shaped India’s labour market reforms. We look forward to their continued contributions in their new roles.”

About TeamLease Services Limited

TeamLease Services is one of India’s leading people supply chain companies, offering a range of solutions to 4000+ employers for their hiring, productivity, and scale challenges. Listed on the NSE & BSE, TeamLease has hired 24 lakh+ people over the last 25 years. As one of India’s fastest-growing employers, TeamLease offers solutions to large, medium, and small clients across the 3Es of Employment (around 3.5 lakh associates/trainees), Employability (over 7 lakh students), and E-workforce (over 1000 employers). In FY2015, TeamLease rolled out DA (Degree Apprenticeship) to provide on-the-job training to apprentices.  

A recent TeamLease report highlights both the rapid expansion and the workforce disparities in India’s non-banking financial companies (NBFCs). While the sector saw a sharp increase in net advances, pushing the balance sheet to ₹21.8 lakh crore in FY24, the issue of gender diversity, particularly in temporary and outsourced roles, continues to remain a pressing concern.

Gender Diversity in NBFCs: A Persistent Gap

The report reveals that gender diversity in NBFCs remains alarmingly low, with women occupying only 21.9% of overall roles. This figure falls significantly behind other segments like banking and fintech. A striking 78.1% of NBFC positions are held by men, and female representation in leadership roles is even scarcer, leading to limited influence over workplace policy, inclusion, and equity. However, regional trends offer glimmers of hope. States like Mizoram (45.5%), Sikkim (35.7%), and Meghalaya (29.4%) lead in female workforce participation in India, thanks to supportive cultural norms and government initiatives. Other states with notable contributions include Puducherry, West Bengal, Tamil Nadu, Chandigarh, and Karnataka.

Workforce Trends and Compensation Insights

Women earn a slightly higher average wage of ₹17,449 compared to ₹17,104 for men—mainly due to their concentration in support roles and telesales, which often have standardised pay structures. Compensation also varies sharply by region. Delhi (₹23,756) and Karnataka (₹23,607) are top-paying hubs, whereas West Bengal (₹16,588) and Rajasthan (₹16,517) rank at the bottom. Balasubramanian A, Senior VP and Business Head, TeamLease Services, notes, “Improving gender diversity isn’t just an HR initiative—it’s a business imperative. With the right mix of education access, mentorship programs, and flexible work models, NBFCs can build a more inclusive and high-performing workforce.”

Temp Staffing and Staff Outsourcing: A Gendered Landscape

The rising adoption of temp staffing services and staff outsourcing by NBFCs has allowed companies to manage cost, efficiency, and scalability. Yet, these roles are still overwhelmingly filled by men, indicating an urgent need to rethink recruitment strategies and create better pathways for women in temporary employment. Geographically, Maharashtra (19.9%), Gujarat (11.6%), Tamil Nadu, Karnataka, and Uttar Pradesh account for nearly 75% of temporary workforce employment in the NBFC space. But to foster real progress, these practices must expand into underserved regions while ensuring inclusivity across gender lines.

Regional Workforce Distribution & Future Growth

As NBFCs play a pivotal role in financial inclusion, they must now take parallel steps to promote gender diversity across all staffing models. Inclusive hiring, especially through gender-balanced staff outsourcing and temp staffing services, will be essential to unlock untapped talent pools and drive equitable economic growth. As NBFCs remain at the forefront of credit access and financial inclusion, attention now needs to be given to diversifying the workforce, improving gender participation, and establishing equal employment opportunities throughout India. To learn more about how gender diversity and regional workforce growth can drive success in the NBFC sector, download our full report today or contact us to discuss actionable strategies for your organisation. Disclaimer: This press release was originally published in Business World.

30 December 2024: India’s electronic sector in India is undergoing a transformative phase, with an ambitious goal of achieving $500 billion in manufacturing output by 2030. To meet this target, the electronic sector in India must grow fivefold over the next five years, bridging a $400 billion production gap. Currently, domestic production stands at $101 billion, with mobile phones contributing 43%, followed by consumer and industrial electronics at 12% each, and electronic components at 11%. Additionally, emerging segments like auto electronics (8%), LED lighting (3%), wearables and hearables (1%), and PCBAs (1%) offer substantial growth potential, making the electronic sector in India a key driver of future economic growth. According to TeamLease Degree Apprenticeship’s latest electronics report, the electronics sector is poised for significant expansion, projected to create 12 million jobs by 2027—3 million direct and 9 million indirect roles. Direct employment opportunities will include nearly 1 million engineers, 2 million ITI-certified professionals, and 0.2 million specialists in fields like AI, ML, and data science, while non-technical roles are expected to contribute 9 million indirect jobs. These trends underscore the sector’s capacity to fuel economic growth and provide diverse career opportunities. While the outlook appears promising, India’s electronics sector faces a significant talent deficit that could impede its progress. This gap is not just a numerical challenge but is deeply tied to a shortage of skilled talent, threatening the country’s ability to achieve its ambitious manufacturing goals. Workforce skills must align with industry needs, particularly for high-demand components like semiconductors, electromechanical parts, and passive/active components. To address these challenges, targeted efforts are required to build a skilled, future-ready workforce. A.R. Ramesh, CEO of TeamLease Degree Apprenticeship, shared, “Achieving the ambitious goal of $500 billion in manufacturing output by FY 2030 demands a more assertive approach to addressing critical skill gaps. Apprenticeships and internships play a transformative role in bridging this gap by providing hands-on training directly aligned with evolving industry demands, ensuring graduates are not only employable but industry-ready. Scaling apprenticeship enrollments, projected to grow from 1 million to 2 million apprentices by 2027, will help create a robust talent pipeline to meet industry needs.” Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, added, “India’s electronics sector, valued at $101 billion, is swiftly positioning itself as a global electronics hub, contributing 3.3% to global manufacturing and 5.3% to India’s total merchandise exports in FY23. Despite its modest 4% participation in global value chains, the sector holds immense growth potential by moving beyond final assembly to include design and component manufacturing. As opportunities and employment creation rise, a multi-pronged approach becomes essential, with a strong focus on apprenticeships, reskilling, and upskilling to cultivate a future-ready workforce. Apprenticeships are crucial in building a talent pipeline by combining theoretical knowledge with hands-on experience, ensuring that the workforce is equipped with industry-relevant skills. Furthermore, capacity building is vital, especially given that ITIs currently operate at just 51% enrollment. Employers and industries can strengthen this effort by setting up in-house training centers and collaborating with academia through Work-Integrated Learning Programs (WILP) and degree apprenticeships. Scaling apprenticeship programs, reskilling, and upskilling initiatives for over 50% of the workforce, alongside robust capacity-building measures, will empower India to bridge the skills gap and drive sustainable growth, solidifying its position as a global leader in electronics.” About TeamLease Degree Apprenticeship:  TeamLease Degree Apprenticeship is India’s largest Degree Apprenticeship service provider offered through a partnership with 22 universities pan-India, including TeamLease Skills University (TLSU) and an empanelled third-party Aggregator under the guidelines laid down by the Ministry of Education & Ministry of Skill Development and Entrepreneurship. The company acts as a key facilitator between industry, academia, youth, government & industry bodies for the penetration of and improving the effectiveness of work-based learning programs, including apprenticeships, across India. The company has hired about 1 million apprentices with more than 1000 employers in the past 10 years. About 98% of these apprentices have transitioned into formal employment, and almost 40% have been employed in the same organization. Through its Degree Apprenticeship Program, TeamLease focuses on enhancing the employability quotient of the youth of our country and bridging the skill deficit.

• India’s manufacturing sector aims for $1 trillion by 2025-26, driven by Industry 4.0 and upskilling.
• Challenges: gender disparity (89.5% male workforce) and high attrition, especially among women.
• Solutions: focus on inclusivity, upskilling, outsourcing, and creating women-friendly workplaces. 

Bangalore, 16 January 2025: TeamLease Services, a leading staffing solution provider in India, has published a comprehensive report titled "A Staffing Perspective on Manufacturing." This report explores the trends, challenges, and opportunities influencing the manufacturing sector's contractual workforce. As the industry is projected to reach a $1 trillion valuation by 2025-26, understanding workforce dynamics is becoming essential for sustainable growth. Government policies, technological innovations, and changes in the workforce landscape drive this advancement. The report highlights industries driving manufacturing growth, like automotive, chemicals, textiles, electronics, and machinery. Industry 4.0 technologies, including IoT, AI, and robotics, are transforming these sectors and boosting productivity. However, the rise of smart factories underscores the urgent need for widespread upskilling to close the growing skills gap.

Workforce Demographics and Regional Contributions

According to the report, the manufacturing workforce is largely young, with 43.6% of employees falling within the 28-37 age range. This demographic is well-positioned to adopt new technologies, but there is an urgent requirement to improve technical and analytical skills. Educational attainment reveals that nearly half of the workforce possesses a graduate degree, with men (48.5%) and women (46.4%) showing comparable levels of representation among graduates. Regionally, Maharashtra (17.2%) and Tamil Nadu (14.6%) are the top contributors to the contractual workforce, reflecting their industrial strength. Other significant contributors include Uttar Pradesh (9.6%) and Karnataka (9.4%), while Delhi (3.6%), Rajasthan (3.5%), and Bihar (3.4%) provide smaller proportions. Together, regions like West Bengal, Andhra Pradesh, Telangana, and Kerala make up 24% of the workforce.

Challenges: Gender Gaps and Attrition

Despite its advancements, the manufacturing sector continues to grapple with significant challenges, particularly gender disparity. Men occupy a staggering 89.5% of temporary positions, while women hold a stronger presence in postgraduate qualifications (24.3% compared to 10.5% for men). Conversely, men are more prevalent in technical qualifications such as diplomas and ITIs. The report emphasizes the urgent need for initiatives aimed at bridging the gender gap, especially in technical roles. Attrition remains a critical issue, with over 43% of temporary workers leaving their positions within a year and 8.7% departing within the first three months. Women encounter additional hurdles, with 66% exiting within a year due to safety concerns, commuting challenges, and the physically demanding nature of the work. The creation of women-friendly workplaces is underscored as a priority to tackle these issues.

Pay and Job Demand Trends

Compensation in the manufacturing sector has seen consistent growth, with a compound annual growth rate (CAGR) of 5.6% from FY21 to FY24. However, a gender pay gap persists, with men earning higher average salaries than their female counterparts. Addressing this pay inequality is essential for promoting fairness in the workplace. The demand for skilled roles remains robust, with positions such as assembly line workers, welders, and CNC operators in high demand. Additionally, white-collar roles like production supervisors, quality control inspectors, and supply chain managers are crucial for the sector's success.

Strategic Recommendations

Subburathinam P., Chief Operating Officer, TeamLease Staffing, remarked: "Our findings reveal both opportunities and challenges for India's manufacturing sector. While the sector is on a promising growth path, supported by initiatives like PLI schemes and achieving a $447 billion export milestone, issues such as high attrition, skill shortages, and gender disparity need urgent attention. To unlock its full potential, the industry must focus on inclusivity, upskilling for Industry 4.0, and strategic workforce outsourcing to optimize costs and efficiency." The report suggests practical steps to tackle challenges, like investing in workplace safety, promoting inclusivity, and offering career growth programs, including mentorship. Outsourcing is a cost-effective way to save 50-60% while boosting efficiency. Other strategies include using feedback systems, recognition programs, and customized retention plans to reduce attrition and improve engagement. By defying these challenges directly, India's manufacturing sector can reach its ambitious goal of a $1 trillion valuation and position itself as a global leader in sustainable and inclusive growth. Read our press release on CXO Today.

In this rapidly changing business environment, organizations face the dual challenge of addressing immediate skill shortages while ensuring a sustainable workforce for the future. Apprenticeships have emerged as a strategic solution, offering a mutually beneficial proposition for both businesses and individuals. Apprenticeship programs provide a steady stream of skilled talent to fill current skill gaps and foster a loyal, adaptable workforce that drives long-term growth and innovation. By integrating hands-on training with formal education, these programs help organizations build a competitive edge while offering participants valuable work experience and opportunities for career advancement. At a recent Leadership Discussion in Hyderabad, experts from TeamLease Degree Apprenticeship explored the pressing challenges in creating an effective talent pipeline. The discussion focused on the disconnect between employer needs and candidate skills, rising hiring and training costs, high turnover rates, and the necessity for agility in today's dynamic talent landscape. One key takeaway was how apprenticeships can significantly reduce talent acquisition and training costs, develop a skilled talent pipeline and yield long-term benefits by building a loyal workforce. Despite Telangana's strong per-capita income, the state grapples with sectoral, spatial, and segmental inequalities. Unemployment remains a significant issue, particularly among the youth, with a rate of 15.1% in the 15-29 age group, as reported by the PLFS 2022-23. Rural unemployment among youth stands at 9.7%, while urban unemployment reaches 25.4%. The challenge is especially pronounced in Hyderabad's booming IT sector, where hiring difficulties and skill gaps persist, particularly in emerging technologies and specialized roles. During the session, leaders discussed how customized talent development programs, such as degree apprenticeships that focus on industry-relevant skills alongside academic qualifications, can help employers in Telangana build a future-ready workforce. For more details, you can read the full press release about the event in BusinessWorld.

TeamLease Degree Apprenticeship, a leader in apprenticeship programs, has announced a ground-breaking initiative to equip 2 million young individuals with crucial apprenticeship training by 2028. This ambitious goal marks a significant milestone in the company’s mission to address the growing demand for skilled talent across various industries. With India's youth population poised to play a pivotal role in the country’s economic growth, TeamLease’s initiative is designed to bridge the gap between educational qualifications and industry requirements. The program aims to provide hands-on, practical experience to students, enhancing their employability and readiness for the workforce. Ramesh Alluri Reddy, CEO of TeamLease Degree Apprenticeship, emphasized the importance of this initiative - ‘We are committed to transforming the landscape of skill development in India. By 2028, our goal is to train 2 million young professionals, equipping them with the necessary skills and experience to excel in their careers. This effort aligns with our broader vision of creating a robust, skilled workforce that meets the needs of today’s dynamic job market.’ The apprenticeship training will focus on various sectors, including IT, manufacturing, healthcare and retail, reflecting the diverse needs of India’s evolving economy. TeamLease Degree Apprenticeship plans to collaborate with leading industry players, educational institutions and government bodies to ensure the program’s success and widespread impact. In addition to providing technical and professional training, TeamLease’s program will offer mentorship and career guidance to participants, helping them navigate their career paths and achieve their professional goals. The initiative also aims to foster partnerships with businesses to facilitate seamless job placements for apprentices upon program completion. This strategic move by TeamLease Degree Apprenticeship is set to create significant ripple effects in India’s employment landscape, addressing skill shortages and supporting economic growth. By investing in the future of India’s youth, TeamLease is paving the way for a more skilled, competent workforce that will drive the country’s development forward. Read our press release on this initiative in CXOToday For more information about the apprenticeship training programs and how to get involved, please visit - Teamlease Degree Apprenticeship.

• A small hospital needs to deal with at least 623 unique compliances in a year*
• Labour compliances account for approximately 31% of the compliance obligations.
• Hospitals must secure at least 100 licences, permissions, and approvals under 58 different acts.

*50-bed hospital with facilities like a diagnostic centre, radiology, pathology lab, and pharmacy operating in a single state. Bangalore, 20th August 2024: TeamLease Regtech has unveiled its latest report titled ‘Simplifying Compliance Management for Hospitals.’ This comprehensive report delves into the intricate regulatory challenges faced by hospitals nationwide. It examines the existing regulatory landscape, highlights the hurdles, and offers actionable recommendations to help alleviate these complexities. India’s healthcare sector has witnessed remarkable growth in recent years, with public healthcare expenditure increasing to 2.2% of GDP in FY23. The sector, currently valued at US$372 billion, is poised to reach US$638 billion by 2025. The burgeoning medical tourism industry, currently valued at over $7 billion, is expected to double by 2029, attracting approximately 630,000 international patients in 2023 alone. As a major employment generator, the sector currently employs 7.5 million people as of 2024, underscoring its potential and the need for effective compliance management. For a typical 50-bed hospital with facilities like a diagnostic centre, radiology, pathology lab, and pharmacy operating in a single state, the report identifies 623 unique regulatory compliances. Of these, 421 (67.5%) are mandated at the union level, 192 (31%) at the state level, and 10 (1.5%) at the municipal level. When compliance frequency is considered, the annual obligations for such a hospital can rise to 967. Additionally, the hospital must secure 100 licences, permissions, and approvals under 58 different acts. Hospitals must comply with various regulatory requirements, including those under the Narcotic Drugs and Psychotropic Substances Act, 1985, and the Maharashtra Narcotic Drugs and Psychotropic Substances Rules, 1985. This involves submitting annual disclosures regarding the purchase and consumption of manufactured drugs to the licensing authority and maintaining detailed records of drug usage and inventory. The Pharmacy Act, 1948, and the Pharmacy Practice Regulations, 2015, mandate hospitals to keep patient records for five years, document drug compounding, labelling, dispensing, and maintain prescription records. Moreover, hospitals are required to record and report administered drugs and any cases of communicable diseases. The Pre-Conception and Pre-Natal Diagnostic Techniques (Prohibition of Sex Selection) Act, 1994, requires hospitals to preserve the names of individuals receiving genetic counselling for two years. The report further reveals that a hospital must obtain 100 licences across Union, State, and Municipal/Local levels. Labour compliances account for approximately 31%, while industry-specific regulations comprise over 27% of the unique obligations. Factoring in the frequency of these compliances, a hospital may face up to 967 regulatory obligations annually. These obligations multiply as the hospital expands its operations or geographic presence. Managing and tracking all these regulatory requirements can be extremely challenging when relying on Excel sheets and ad-hoc processes. The report concludes with recommendations for regulatory reforms to enhance the ease of doing business and provide modern compliance management solutions for healthcare providers. Download the full report: Simplifying Compliance Management for Hospitals in India

India's  rapid technological transformation is evident in the electronics fabrication sector and the growing 5G infrastructure. These advancements enhance industry capabilities and create substantial employment opportunities for the youth. This underscores the critical need for skill development to keep pace with technological demands and prepare the youth for future job markets. Electronics Fabrication: A Modern Manufacturing Era India's electronics fabrication sector is undergoing significant transformation, incorporating advanced materials and processes like organic electronics and 3D printing. This evolution demands a workforce proficient in these sophisticated technologies. The semiconductor industry is projected to grow to $100 billion by 2030 and create approximately 1 million jobs globally between 2025 and 2026. In India, 250,000-300,000 skilled professionals will be needed by 2027 in R&D, design, manufacturing, and packaging. Enhancing industry-academia collaboration is crucial to meet this demand, fostering training programs that align with market needs. Telecom Industry: The 5G Revolution The introduction of 5G technology in India is revolutionising industries and creating numerous job opportunities. The telecom sector is expected to employ 67.9 lakh workers by FY25, with a focus on roles related to 5G. Emerging job profiles include 5G technology developers, cybersecurity experts, AI/ML developers, and RF systems architects. Essential skills include knowledge of devices, open-source architecture, IoT, and niche sector-specific expertise. Soft skills such as adaptability and problem-solving are also vital. Airfibre: Expanding Connectivity and Employment Airfibre technology is enhancing high-speed internet access without wires, generating jobs for telecom engineers, project managers, and FTTH planners. Telecom companies are rolling out 5G services. This has led to a higher need for professionals who can design and manage fiber optic services. Additionally, customer service roles are expanding to meet the rising demand. Customer service roles are also growing to keep up with the increased demand. Electric Vehicles (EV): Driving Job Growth The electric vehicle industry in India is growing rapidly. Employers expect job openings to increase by 40-45% in 2023 compared to the previous year. By 2030, the sector could create 10 million direct jobs and 50 million indirect jobs. The industry, valued at USD 5.48 billion in 2023, is expected to grow at a CAGR of 34.7% between 2024 and 2032. Emerging job profiles include battery engineers, electric powertrain engineers, data scientists, and regulatory compliance experts. Skills in demand encompass battery technology, powertrain development, data analytics, AI, and regulatory knowledge. Industry 4.0: Revolutionising Manufacturing Industry 4.0 is significantly impacting India's manufacturing sector, creating new job opportunities and requiring a new skill set. Using these technologies is leading companies to hire more workers. 74% of employers anticipate growth in the second half of FY24. Key recruitment hubs include Chennai, Bangalore, Hyderabad, and Coimbatore. New job profiles include data architects, blockchain developers, AI developers, and sustainability advisors. Skills in demand cover technical expertise in PLC programming, micrometers, blueprints, and soft skills like adaptability and global awareness. Renewable Energy: Powering Future Jobs India's renewable energy sector is experiencing significant job growth, particularly in tier II and III cities. In FY24, job demand increased by 23.7%. Emerging job profiles include solar PV technicians, wind turbine technicians, energy storage operators, and waste management specialists. Key skills needed include technical proficiency in renewable energy systems, project management, data analysis, and sustainability practices. Embracing New Skills As India advances technologically, the job market is evolving, demanding continuous learning and skill development from the youth. By embracing these changes and upskilling, young professionals can look forward to promising careers in various dynamic fields. TeamLease can help you meet your staffing needs with skilled professionals in various sectors, we have the expertise to connect you with the right talent. Contact us today to learn how we can support your workforce development.

• 75.90% of employers identify technical skills as crucial for gig workers
• 68.67% stress the importance of communication skills
• Over 90% emphasize the need for digital proficiency
• On-the-job training (76.19%) and online courses (73.81%) are the top methods for skill enhancement

India, 19th July 2024: Celebrating World Youth Skills Day, TeamLease EdTech, a leader in learning and employability solutions in India, unveiled its in-depth report titled "Gig Economy Skills: Equipping Youth for Freelance and Flexible Work." This report, based on data from 837 employers across various industries, delves into the critical skills and competencies necessary for thriving in the burgeoning gig economy. The report reveals a positive outlook for gig workers, with 78.57% of employers stating that gig workers meet or exceed job expectations. Technical proficiency stands out as the most critical skill, with 75.90% of employers highlighting its importance, reflecting the growing reliance on technology in today's job market. Close behind, 68.67% of respondents underline the need for strong communication skills, essential for remote collaboration and client management. Employers show a clear preference for gig workers with 1-5 years of experience, as indicated by 67.86% of the respondents. This preference suggests a balance between fresh perspectives and practical experience. Furthermore, digital literacy is deemed indispensable, with over 90% of employers emphasizing its necessity in the digital-dominated gig economy. When it comes to skill enhancement, on-the-job training (76.19%) and online courses (73.81%) are the preferred methods, providing practical and flexible learning opportunities. The report also identifies key skill gaps in new gig workers, notably industry-specific knowledge (42.86%) and soft skills (28.57%). Employers seek a blend of domain knowledge, technical expertise, and strong soft skills for effective client handling. Looking ahead, the study highlights that AI and automation skills (53.57%) will be pivotal for gig workers over the next five years, followed by advanced technical skills (21.43%) and sustainability practices (14.29%). Shantanu Rooj, Founder and CEO of TeamLease EdTech, commented on the report’s findings: “The gig economy is not just a glimpse into the future of work but a significant part of our present. With 78.57% of gig workers meeting or exceeding expectations, we see tremendous potential. The focus on both technical and soft skills underscores the intricate demands of this new work paradigm. Continuous upskilling, particularly in AI and automation, is not just beneficial—it’s essential.” Jaideep Kewalramani, COO and Head of Employability Business, emphasized the need for ongoing skill development: “Our study provides a clear roadmap for gig worker development. The strong preference for on-the-job training and online courses reflects the demand for flexible, practical learning solutions. Addressing the 42.86% gap in industry-specific knowledge presents a significant opportunity. By targeting industry-aligned programs, we can ensure gig workers are not just meeting today’s demands but are well-prepared for future challenges.” Download the full report: Gig Economy Skills: Equipping Youth for Freelance and Flexible Work

• The Indian workforce is expected to grow by 6.33%
• Top New Locations: Coimbatore, Visakhapatnam, Jaipur

Bengaluru, July 15, 2024: TeamLease Services' Employment Outlook Report paints a promising picture for India's job market in the first half of fiscal year 2025. With a projected incremental workforce expansion of over 6%, supported by robust economic conditions and a near 7% GDP growth forecast, India is poised as the fastest-growing G-20 economy. Kartik Narayan, CEO of TeamLease Staffing, emphasised, "With India forecasted to be the fastest-growing G-20 economy in 2024, coupled with strong investment demand and easing inflation, the job market remains resilient in the face of global headwinds. Nearly two out of five organisations are prioritising skills development, equipping their workforce for the technological advancements that lie ahead.” The findings of our report shed light on the dynamic and optimistic hiring landscape. The survey also reveals that the healthcare, pharma, automotive, manufacturing, engineering, and infrastructure sectors have the highest number of employers planning to increase their workforce. Leading industries in workforce size growth include construction and real estate, travel and hospitality, and electric vehicles (EV) and EV infrastructure. Delhi, Bengaluru, and Hyderabad are leading cities for employment opportunities, while Coimbatore, Visakhapatnam, and Jaipur are notable emerging job markets. Employers are actively seeking candidates with strong communication skills, attention to detail, technical proficiency, and organisational abilities for both current and new roles. Furthermore, 35% of talent acquisition strategies are anticipated to be significantly influenced by generative AI, indicating a shift in hiring practices driven by technological advancements. India's job market is set for significant growth across various industries, supported by robust economic conditions and strategic investments in technology and skills development. Employers' focus on skill prioritisation and generative AI highlights a progressive hiring landscape. With ample opportunities in both established and emerging cities, the future of India's employment sector looks exceptionally promising. Download the full report: Employment Outlook Report H1 FY25

• Temporary roles in high demand include in-store promoters, service technicians, supervisors, sales trainers, channel sales executives, customer support executives, warehouse managers, tele-support executives, and electronics engineers.

• The opportunity cost of lost revenue due to vacant positions and reduced productivity amounts to ₹118.6 crore for the in-store promoter role alone for a mid sized company 

TeamLease Services, India's leading staffing conglomerate transforming employment, employability, and ease of doing business, has released its 'Consumer Durables & Electronics: A Staffing Perspective Report,' providing comprehensive insights into the country's growth in the consumer durables and electronics sector. With India reinforcing its status as the world's fastest-growing major economy, the report predicts that the country will emerge as the third-largest consumer market by 2027.The workforce employed in this sector will be crucial in enhancing its capacity to effectively serve its intended beneficiaries and attain sustainable growth. The report highlights the critical role of this workforce in meeting the sector's demand for diverse talent swiftly and efficiently. In the report, TeamLease Services highlighted high-demand temporary roles such as in-store promoters, service technicians, supervisors, sales trainers, channel sales executives, customer support executives, warehouse in-charge, tele-support executives, and electronics engineers, as pivotal to the growth in the consumer durables and electronics industries. Detailed market segmentation and size analysis cover a range of consumer durables—from small appliances like kitchen appliances, LED lights, and electric fans to large appliances such as ACs, refrigerators, and washing machines—and consumer electronics, including TVs, mobile phones, computing devices, and digital cameras. Notably, the AC market is projected to reach ₹5.8 billion by 2028 with a CAGR of 15%, while the mobile phones market is estimated to reach ₹61.2 billion by 2028, growing at a CAGR of 6.7%. A demographic profile of the temporary workforce reveals it is predominantly male (94%), with an average age of 31 years and a tenure of 2.8 years. More than half of this workforce has education levels below the 12th standard, and hence, appropriate training is required to develop certain skill sets to ensure productivity. TeamLease Service's report also provides an in-depth geographic analysis, revealing that the temporary workforce is concentrated primarily in the South region. Tamil Nadu, Karnataka, Maharashtra, Uttar Pradesh, and Telangana are leading in temporary job growth. At the city level, Bengaluru, Hyderabad, Chennai, Kolkata, and Mumbai are the main drivers of this growth. The report also examines compensation trends, noting variations in average annual CTCs and incentives across regions and city tiers, with the highest annual CTCs in metro cities and the highest average monthly incentives in tier 2 cities. Attrition remains a significant challenge, with the report differentiating between regrettable attrition (22% of high-performing employees exiting) and non-regrettable attrition (31% of employees who have not earned incentives). The cost of attrition to the organization with 1000 employees is approximately ₹3.64 crore. The opportunity cost due to attrition specific to the in-shop promoter role is approximately ₹118.6 Crore for an organization of 1000 employees. Balasubramanian A, Senior Vice President at TeamLease Services, said, “Attrition is a persistent obstacle that can substantially impact an organization's bottom line and growth prospects. Our report reveals over ₹100 crore opportunity cost pertaining to lost revenue for a midsized firm, highlighting the urgent need for businesses to address this issue proactively. Tackling attrition is not just a cost-saving measure but an investment in the sustained growth and competitiveness of our manufacturing and retail powerhouses. We must reimagine talent management strategies to attract, nurture, and retain a temporary workforce.”  Kartik Narayan, CEO of Staffing, TeamLease Services Limited, said, "Understanding the specific needs and dynamics of the temporary workforce is crucial for driving sustainable growth in the consumer durables and electronics sector. As India establishes itself as the world's third-largest consumer market, we have a generational opportunity to reimagine workforce solutions. Our report provides actionable insights to help businesses optimize staffing strategies and enhance operational efficiency." The report also reveals TeamLease Services's successful case studies, showcasing their expertise in implementing tailored solutions to address clients' workforce challenges. It includes restructuring salary frameworks, providing customized training programs, and implementing end-to-end workforce management solutions. These initiatives have resulted in substantial cost savings, reduced attrition rates, and improved employee engagement and productivity.

A CXO Roundtable by TeamLease Degree Apprenticeship TeamLease Degree Apprenticeship, India's premier privately-owned degree apprenticeship program from TeamLease Services, held a distinguished event titled ‘People Supply Chain Innovation: Interpreting the ROI in Apprenticeships’ at ITC Narmada, Ahmedabad. Gujarat has emerged as a top destination for both domestic and international investments, ranking among India’s top three in Manufacturing FDI. The state boasts a strong labour force participation rate, lower unemployment and an entrepreneurial spirit, positioning it well for economic growth and job creation. However, organisations face challenges in talent acquisition, engagement and development due to technological disruptions and demographic diversity. TeamLease’s event aimed to tackle critical challenges in talent acquisition and explore the ROI in Apprenticeships and other work-based learning programs. Strategies discussed at the event included developing internal talent, implementing Managed Training Services (MTS) and Hire-Train-Deploy (HTD) models and outsourcing apprenticeship management.  The discussion also covered the ROI in Apprenticeships - a 3X return in three years, reducing talent acquisition costs by 50% and boosting business productivity by 20-25%. Additionally, the discussion also highlighted the need for structural reforms to accelerate skill development in India, emphasising the symbiotic relationship between functional skills and theoretical knowledge. It was underscored that skill development and education should not be treated as distinct entities. Instead, a concerted effort to enhance youth employability through education-embedded work-based programs was deemed imperative, with the potential to significantly bolster human capital. Specific measures, such as the tripartite agreement model involving academia, industry and youth as key stakeholders and providing lifelong learning opportunities for upskilling and reskilling through apprenticeships, were thoroughly discussed. Additionally, there was a detailed examination of education pathways that mirror extended apprenticeship programs for bridging skill gaps and preparing a workforce for the future. A.R. Ramesh, CEO of TeamLease Degree Apprenticeship, emphasised the urgent need to address the challenges in creating a robust talent pipeline. With India expected to contribute a quarter of the world’s new workforce in the next decade and AI set to disrupt millions of jobs, developing a skilled workforce is crucial. Ramesh noted that although Gujarat is a top performer in FDI and economic indicators, it needs to increase its apprenticeship adoption to build a productive talent pool. He also discussed the potential of Managed Training Services and Hire-Train-Deploy models to enhance the productivity of apprentices and fresh recruits. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, highlighted the significant growth and investments in Gujarat’s key sectors. The state has seen a 700% increase in EV demand over the last three years and a substantial expansion in charging infrastructure. Gujarat accounts for nearly 30% of India’s pharma exports and is set to manufacture India’s first semiconductor chip this year. However, talent availability and productivity have become significant challenges. He emphasised the need to scale up apprenticeship adoption, as it offers a proven pathway to creating a sustainable talent supply chain. Dhriti Prasanna Mahanta, Business Head and Vice President at TeamLease Degree Apprenticeship, emphasised the pivotal role of apprenticeships in augmenting organisational efficiency and talent management. By refining talent acquisition and retention processes, these programs yield substantial cost savings, signifying a strategic shift towards nurturing internal talent. The shifting prominence of specific industries in Gujarat is evidenced by the changing proportions of apprentices engaged in each industry. Dhriti also added that expanding apprenticeship programs in Gujarat is crucial for cost savings, increased productivity, scaling up the skilling ecosystem to drive industry growth and nurturing the state’s entrepreneurial spirit. About TeamLease Degree Apprenticeship TeamLease Degree Apprenticeship is India’s first and largest Degree Apprenticeship programme offered through a public-private partnership with the TeamLease Skills University (TLSU), Ministry of Education, Ministry of Skill Development and Entrepreneurship, CII and NSDC. The company has hired about 700,000 apprentices with 1000+ employers. About 98% of these apprentices have transitioned into formal employment and almost 40% have been employed in the same organisation. Through its Degree Apprenticeship Program, TeamLease focuses on enhancing the employability quotient of the youth of our country and bridging the skill deficit. TeamLease Skills University (TLSU) is India’s first vocational skills university and India’s first NAAC certified University that offers employment-oriented multi-level programs.