Reliance Industries (RIL) indulged in a major workforce expansion by hiring 1,71,116 new employees across various business segments during the financial year 2023-24 (FY24). This brings the company’s total employee count to nearly 3,48,000, as revealed in its annual report on Wednesday, 8 August, 2024.
Despite these new hires, RIL reduced its workforce by nearly 11 per cent in FY24, reflecting a decrease of around 42,000 employees compared to the previous fiscal year. The total employee strength now stands at 3,47,000, down from 3,89,000 in FY23. This reduction is primarily driven by a focus on cost efficiency and a decrease in hiring, particularly in the retail sector due to store closures and a slower expansion rate.
The report further revealed that among the total workforce, 53.9 per cent are under the age of 30, reflecting Reliance’s focus on young talent. Female employees make up 21.4 per cent of the workforce, with 74,317 women employed by the group. Notably, 98 employees who took maternity leave in the previous year have rejoined the company in the current financial year. Of the new hires, 41,092 were women, underscoring the company’s commitment to gender diversity.
The report also highlighted that 81.8 per cent of the new hires are below the age of 30, and 24 per cent are female. Reliance also employs 1,723 differently-abled individuals, primarily in its Retail arm, which operates across sectors such as foods, groceries, apparel, footwear and toys.
In terms of training and development, Reliance provided over 28.80 million person-hours of training in FY24. Additionally, under its internal initiative, Mission Kurukshetra, employees submitted 2,726 new ideas for business solutions. The company also reported that 6,414 employees took paternity leave and 811 took maternity leave during the year.
The company noted a decrease in voluntary separations with 1,43,280 recorded, compared to the previous year. The company also hired 115 interns and onboarded 544 trainees from over 100 educational institutions.
