With technological advancements driving workforce transformation, firms in India are increasingly investing in digitalisation and automation to stay competitive. The best part is that this trend is creating a demand for new skill sets, while also encouraging employers to re-examine job roles. As a result, not only are new jobs being created but many positions are being eliminated too depending on the digital maturity of the sector.
As per the TeamLease Employment Outlook Report, the second half of 2024-25 is witnessing maximum number of e-commerce firms and tech startups (73 per cent) expanding their workforce size. Only 11 per cent are reducing their team size, while 16 per cent are making no change to their workforces at all.
In the retail space, 71 per cent employers are expanding their workforce, while 12 per cent are reducing their workforce size and 17 per cent are making no changes.
The report reveals that the automotive industry is witnessing 70 per cent employers expanding their workforces and 17 per cent reducing. About 13 per cent are not doing either.
The logistics industry is witnessing the highest positive change in workforce size (+14.2 per cent), followed by +12 per cent in the electric vehicle (EV) and EV infrastructure space. The agriculture and agrochemicals industry workforce is set to witness a positive change of 10.5 per cent.
Bangalore is the city where a whopping 53.1 per cent of employers are expanding their workforce size, followed by Mumbai at 50.2 per cent and Hyderabad at 48.2 per cent.
A significant 59 per cent of employers in the startups and micro and small businesses space are expanding their workforce size, while 60 per cent employers are doing so in the sales space.
In terms of existing competencies, 57.8 per cent employers are expanding their communications team, while 44.6 per cent are hiring more people with sales and marketing skills. A good 37.3 per cent are expanding the number of critical thinkers in their team.
About 40.3 per cent employers will hire new problem-solvers, while 35.9 will add more people with time-management capabilities and 33.7 per cent will hire new competencies in after-sales services.
There are opportunities for targeted talent acquisition and planning. Why? Because 33 per cent employers are looking at innovative workforce strategies to make up for the skill shortage, while 31 per cent are doing so to deal with seasonality.
There is a positive hiring momentum and workforce growth outlook for HY2 FY2024-25, with 59 per cent of firms planning workforce expansion. Robust employment outlook is clear with a net growth projection of +7.1 per cent.