Manufacturing, EV, Engineering lead hiring growth in 2024?
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June 25, 2024
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India has emerged as one of the fastest-growing economies globally, recording 6.1 per cent growth in GDP in the March quarter. This growth has led to positive trends in hiring. Some of the sectors that reflect this growth include automotive, manufacturing and finance. And the good news is that we can expect the overall hiring intent to grow by 19 per cent in 2024.
Let us delve into some of the sectors that are expected to lead the hiring growth in 2024!
Hiring trends in manufacturing
Recording a 25 per cent increase in hiring intent, manufacturing tops the recruitment trends in India for 2024.
The manufacturing sector is undergoing a wave of transformation, thanks to the myriad of benefits offered by digitalisation. However, the widespread deployment of digital technologies has created an unprecedented demand for professionals skilled in cutting-edge technologies like Generative AI, ML, etc.
Another factor that has impacted the sector is the growing emphasis on sustainability and green practices. This has created a demand for green skills in areas like renewable energy, sustainable engineering solutions and more.
Besides, the sector’s focus on R&D has escalated in recent years, fostering innovation. Hence, this sector definitely requires research-oriented professionals.
Bridging the skill gaps in the manufacturing sector
There is a need to strategically partner with educational institutions. The sector needs to work with the institutions to develop the curriculum, offer internships, etc.
Organise upskilling and reskilling programmes to equip existing employees to adapt to technological and other changes.
Hiring trends in EVs (Electric Vehicles)
The Indian automotive market is emphasising on the manufacture of EVs for a green and sustainable future. The central and state governments have introduced several initiatives to incentivise the sector’s growth. While some initiatives focus on vehicle manufacturers, battery producers and related resources, others stress skill development, R&D and employment generation.
Some of the areas where employment generation is expected to make strides are:
- Manufacture and assembly of EVs
- After-sales service
- Servicing and repair
- Charging station infrastructure development
- Maintenance
- Recycling
And more!
Overall, by 2030, this sector is expected to generate a whopping 10 million direct jobs and 50 million indirect jobs.
However, there is a dearth of skilled candidates in this sector. These jobs require technical skill sets and training.
How the EV sector can address this:
The manufacture of EVs and related jobs are green jobs that require green skills. An effective way to develop green skills is to reinforce existing training with vocational education.
Upskilling and reskilling initiatives need to be launched.
Establishing skilling platforms in states with large automotive clusters is a strategy that can be used for skill development.
Hiring trends in engineering
The engineering sector is recovering from the slump in the recruitment domain that it experienced in 2023.
Engineering is a field that is directly impacted by technological advancements. Currently, India is in the midst of a technical revolution where technologies like IoT and Generative AI have taken centre stage.
Some of the skills in demand include AI, ML and Data Science.
A positive trend in technical hiring in 2024 is the rising demand for junior engineers. This indicates that employers are looking to build talent from the ground level.
Therefore, students looking for careers in engineering must consider courses that educate them on cutting-edge technologies so that they can be employable in sectors with a rising demand for such skills.
Employers need to prioritise candidate experience to attract and hire top talent in this field. Also, employers need to ensure that they offer their employees reskilling and upskilling opportunities so that they can stay updated with the latest technologies.
A detailed overview of the hiring trends in these sectors will help HR teams build customised recruitment strategies that will facilitate hiring top talent. However, finding the right candidates and hiring them can be an uphill task. Outsourcing your hiring needs to a professional RPO (Recruitment Process Outsourcing) partner streamlines the hiring process and brings you high-quality candidates.
Careernet is a leading RPO agency that offers end-to-end recruitment services to clients. Our cost-effective services are tailored to the specific needs of your business.
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