Business & Economy
Indian manufacturing sector projects strong hiring outlook for Q3 – 57% of employers are keen to increase their resource pool – TeamLease
The report findings indicate that 57% employers have expressed the intent to hire and expand their resource pool
TeamLease Services, a conglomerate revolutionizing employment, employability and ease of doing business in India, has today launched their “Employment Outlook Report” for Q3 (October to December, 2022) for the manufacturing sector. The report findings indicate that 57% employers have expressed the intent to hire and expand their resource pool. From a macro perspective, the overall intent to hire, across manufacturing and services sectors combined, has increased from 61% in Q2 to 65% in Q3 and is projected to cross 70% in the next few quarters.
Deep diving into the geographic trends, the report highlights that driven by post COVID resilience, resurgence and readiness; metro and Tier I cities (91%) have indicated a higher intent to hire vs. Tier – 2 cities (69%), Tier – 3 (39%) and rural locations (21%). Mumbai (93%), followed by Bangalore (90%), Chennai (83%), Delhi (79%), Pune (67%), Hyderabad (61%), and Ahmedabad (61%) are the top cities for employment opportunities in the manufacturing segment. The top sectors across the top cities constitute Fast Moving Consumer Goods in Bangalore; Manufacturing, Engineering & Infrastructure in Mumbai; and Agricultural & Agrochemicals in Chennai.
Sharing his views about the industry and the report’s findings, Dr. Mahesh Bhatt, Chief Business Officer, TeamLease Services, said, “Post COVID, global employment growth has recovered by 2.7% and is currently on a strong growth trajectory in H2 2022. Q3 projections for the intent to hire, especially in the manufacturing segment, stand strong. Much of this optimism is driven by the resurgence in the industry, increased consumer demand this festive season and the additional impetus introduced by the government. The INR 2.65 lakh crore stimulus package by the Government of India to generate job opportunities and provide liquidity support to Tourism, Aviation, Construction and Housing has been lucrative towards increasing employment opportunities in the manufacturing sectors.
Large manufacturing firms, with scale and technological heft lead the hiring intent (65%) by a huge margin as they have ramped up to cater to festive demand and optimize production capacities; followed by small scale industries at 41% and medium sized businesses at 39%.
“Majority of the sectors in the manufacturing segment (177 out of the 311 surveyed) are indicating a higher intent to hire in Q3. COVID 19 brought a paradigm shift in the Healthcare & Pharmaceuticals sector and for Q3, close to 92% employers have expressed the intent to increase their resource pool comparatively with the Q2 in 88%. Additionally, driven by higher consumer demand and sales this festive season, 79% employers in the Fast Moving Consumer Goods sector are also keen to hire. Agricultural & Agrochemical (66%), Manufacturing, Engineering & Infrastructure (62%) and Electric Vehicle & Infrastructure sector (61%) are other top sectors”, added Balasubramanian A, Vice President and Business Head – Consumer and Healthcare, TeamLease Services.
The Employment Outlook Report for October to December 2022 quarter for the manufacturing sector highlights the job market sweet spots for candidates. Manufacturing firms are looking to scale in a post-pandemic world and are staffing their frontlines with young talent. Junior level talent (57%) commands the best demand, hierarchically, and is closely followed by entry level talent (51%), mid-level (29%) and senior-level (21%). From a job function perspective, manufacturing companies are focusing more on operations and the profiles which are projected to have a higher hiring inclination are sales (95%), marketing (79%), information and technology (77%), engineering and blue collar (67%)
Further, according to the report, the manufacturing industry has fared comparatively better when it comes to talent retention. Apart from Healthcare and Pharmaceuticals (14.71%), all the other sectors sit with low single digit attrition rates.
The TeamLease Employment Outlook Report is a forward looking tool, which has surveyed 311 manufacturing companies across 14 cities in India. The Intent to Hire indicator is particularly adapted to capture both moderate and significant changes in hiring sentiment as companies. The metric enables to accurately record the environment during a certain quarter and contrast it with the environment from the preceding quarter.
Business & Economy
SVKM’s CNM School Organizes Mini Marathon, Raises ₹6 lakh to support cancer patients
The event was a phenomenal success, with parents and students running for a cause
SVKM’s CNM School, as a part of their 25th-anniversary celebration, organised a Mini Marathon Run on the morning of February 26, 2023. The event was a phenomenal success, with parents and students running for a cause, and successfully raising Rs 6,00,000 for the Tata Memorial Center to support cancer patients.
With the theme “YES, WE CAN!” the event saw participation of 3,000 students, parents, and teachers of CNM School. The registration fee was Rs. 200 per participant, and all proceeds went towards the Tata Memorial Center.
“Our school has always believed in giving back to society, and this mini-marathon is a testament to that. With every step taken, we raise awareness and funds for a noble cause,” said Kavita Sanghvi, Principal of CNM School. She added: “The Management has organised this event to commemorate the 25th anniversary of SVKM’S CNM School and through this magnanimous gesture instilled lifelong values and learning within all.”
The event has raised Rs. 6,00,000 for the ImpaCCT Foundation, an acronym for “Improving Paediatric Cancer Care and Treatment.” It serves as the paediatric foundation of the Tata Memorial Hospital, which ensures that every child with cancer receives treatment and support regardless of their family background. It was established in October 2010 to ensure that every child with cancer coming to Tata Memorial Hospital, receives treatment and other support regardless of the family background.
The cheque for the raised funds was presented to the Tata Memorial Center on the day of the event.
“We invite all parents and students to join us in this selfless initiative of sharing and giving. Your participation is crucial in showing that you care,” added Principal Sanghvi.
It is said that charity begins at home. Running for a charity, whether the race is for one specific cause or the cause gets you into a specific race, gives an added purpose to the running. This event is in alignment with our credence as an institution, which has always believed in giving back to society. SVKM’s CNM School is committed to supporting young cancer patients.
Join the CNM School community and take a step towards making a difference in someone’s life.
Business & Economy
FoodTech Kerala to be held in Kochi from February 9th to 11th at Rena Event Centre
More than 60 exhibitors will showcase their products and services at this year’s FoodTech Kerala
FoodTech Kerala, the state’s premier food processing and packaging expo, will be held for the fourteen edition at Rena Event Centre from February 9 to 11, 2023. FoodTech Kerala will be a 3-day exposition and will provide an interface for the manufacturers of food processing machinery, packaging equipment as well as suppliers of ingredients and flavours for the small and big food processing units in the state, the organizers told a media conference held at Press Club on Monday.
The organizers of the expo, said more than 60 exhibitors will showcase their products and services at this year’s FoodTech Kerala edition. “It is a ‘must not miss’ event for all organizations involved in the food processing and packaging sector to showcase their products and services.
The event is endorsed and supported by Kerala Bureau of Industrial Promotion (K-BIP), CIFT, BIS and FICCI-Kerala. The key highlight of this edition will be the Industrial Pavilion featuring 20 SME units from the state which is sponsored by the K-BIP, Govt of Kerala. The presence of food processing and packaging equipment suppliers, along with the buyers and food processors will give a new dimension to the expo bringing the local buyers and national suppliers together in a single platform.
The receding of pandemic has given a major push to the food industry especially to the small scale units and home bakers in Kerala. “Food Processing Industry has made a major headway all over Kerala, with the Ernakulam district only having many food based units, employing more than 50,000 people. The food processing industry in the district has various products including spices, fish and meat, oil and extracts and ready–to-eat products.
The show will be an ideal opportunity for NRI-Returnees to set up food and bakery units to target the growing Food & HORECA sector in Kerala. The state has a fairly strong base of food processing industries. This sector plays a major role in the economic development of this region and various studies reveal that its contribution to the total output, value additions and employment generation have been regularly increasing during the recent years.
FoodTech Kerala 2023 is organised by Kochi based Cruz Expos. The company has been regularly organising the FoodTech and HotelTech series of B2B trade expos in the state since the past 14 years. Cruz Expos, in a short span of 15 years, has become one of South India’s foremost professional exhibition organiser in the B2B segment.
Chingam, K. P. Vallon Road, Kadavanthra, Kochi- 682 020. India
Mob: +91 8893304450
Business & Economy
The Workforce Institute at UKG Survey: More Than Half of Workers in India Wouldn’t Want Their Children to Have Their Job
The survey report titled ‘We can fix work’ entails a 10-country survey of employees, C-level leaders, and HR professionals which was done by The Workforce Institute at UKG
- The report launched on 9th December, 2022 at the UKG LIVE event happening in Sahara Star, Mumbai.
- They survey found that 52% of people would tell their children to pursue jobs in which they find ‘meaning’ instead of being completely driven by the pay scale.
- While money will continue to remain a driving factor when it comes to job choices, the coming generations definitely won’t regard it as the only factor.
Standing at the threshold of the future of work, The Workforce Institute at UKG, which provides research and education on critical workplace issues facing organizations around the world, surveyed employees and leaders across 10 countries to get a pulse of how they really feel about their jobs. According to the results, India ranked the highest with 66% of employees stating that they wouldn’t recommend their profession to their children or any young person that they care about, while 67% wouldn’t recommend their employers.
The full report, “We Can Fix Work,” provides insight into what parents, family members, and mentors are telling children about what they should value in their jobs and employers — urging future generations to let purpose, not money, guide career choices.
It found that on a global scale, nearly half (46%) of employees would not recommend their company nor their profession to their children or a young person they care about, and a startling 38% “wouldn’t wish my job on my worst enemy.”
“Employees and leaders alike, as has been found in this report, prioritise finding meaning in their work more than making money. We have to realise that with these shifting times, we are navigating towards a generation of workers who don’t necessarily rely on their job for survival: instead their work is more personal to them in terms of adding value to their lives, and fuelling their existing passions,” said Neil J Solomon, vice president, Asia Pacific and Latin America at UKG. “For a workforce such as this, we need to develop a workplace culture that nourishes and nurtures the overall development of its employees, takes care of their physical as well as mental wellbeing, appreciates their efforts, and maintains a mutual sense of respect with individuals at different levels of the organisation irrespective of hierarchies. This, right here, is the beginning of the future of work and employee centricity is at the heart of it.”
Workforce burnout: 45% of employees worldwide don’t want to work anymore, period
There has been a recent rise in the anti-work mindset, globally, owing to the pandemic as 77% of employees around the world want to spend less time working and more time doing things that matter to them. Amongst the C-suite leaders, it is the younger leaders that are ready to bow out of work completely, especially those belonging to the Gen Z (58%), who say they don’t want to work anymore. When compared to the C-suite leaders who are soon to be retiring from their jobs, 36% of the Millennial leaders and 33% of the Gen X leaders are ready to not work anymore. Therefore, a disinclination towards work is a phenomenon that is being observed across the ranks of employees and leaders alike.
Too much overtime affects the employee-employer relationship
If employees tend to work overtime more than twice per week, it strains their relationship with the employer and they’re even less likely to recommend their jobs or their companies to the next generation. This is evidenced by the more than half (58%) of employees, globally, who work overtime 3-4 times per week who wouldn’t recommend their profession to kids. 60% wouldn’t recommend the organisation. The report distinctly shows that more money does not equate to job satisfaction for individuals, as most people have a transactional relationship with work and only 23% of employees genuinely enjoy their work and are passionate about it. In fact, 64% of them would switch jobs right now if they could.
With purpose and trust, 88% of employees look forward to work
Now more than ever, companies must prioritise the wellbeing of their employees, not just for better outcomes in the present, but for their long-term sustainability in the future. Employees in India topped the global charts with a staggering 89% saying that they are committed in their pursuit of greater purpose at work — most of any country surveyed.
What does great look like?
Great Place To Work research finds people at the best workplaces around the world are living in a vastly different — and more fulfilling — reality than the typical employee, starting with the sense of purpose they find in their work. For those at the best workplaces:
- 90% feel like they can be themselves
- 88% look forward to going to work
- 85% believe their work has special meaning
- 85% enjoy psychologically healthy work environments
What’s more, rather than warn loved ones away, 89% of people at these best workplaces would “strongly endorse” their organizations to friends and family.
The full report, “We Need to Fix Work,” examines feedback from 2,200 employees surveyed in partnership with Workplace Intelligence across Australia, Canada, France, Germany, India, Mexico, New Zealand, the Netherlands, the U.K., and the U.S., as well as 600 C-suite leaders and 600 HR executives in the U.S.
- Learn more about UKG and why our purpose is people.
- View the latest UKG Environmental, Social, Governance (ESG) Report to learn more about how UKG is making a difference for its employees, customers, community, and environment.
- Follow UKG on Facebook, Instagram, LinkedIn, Twitter, and YouTube.
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