India Inc’s willingness to hire apprentices to increase from 36% to 41% states TeamLease Skills University
New Delhi: National Employability through Apprenticeship [NETAP], India’s fastest growing as well as the largest private degree linked apprenticeship program in association with TeamLease Skills University, today launched their latest report, “The Apprenticeship Outlook and Index”, a detailed six month forecast on apprenticeship hiring trends in India. The report highlights the future adoption of apprenticeship across sectors during the period- July – December, 2019. According to the report, the period July– December, 2019, will witness a positive growth in apprentice hiring. The hiring sentiment is expected to grow from 36% to 41%, indicating a 5% increase. Further, 17% more employers are positive about hiring apprentices in the long run.
The report findings highlight that 30% of employers engage apprentices with the purpose of meeting the skill requirement of the company. The growth is primarily attributed to employers being increasingly invested in the apprenticeship model over the last two years especially for cost effective talent creation and enhanced productivity. The other factors that are driving apprenticeship adoption are the demand for advanced skill sets, financial support from government, bringing in the services sector under Apprenticeship Programme.
According to the findings, not only corporates in manufacturing sector are keen on hiring apprentices, there is a significant rise in willingness from the services segment as well. 40% employers in manufacturing sector and 42% employers in the services sector are open to hiring apprentices over the next six months. From a region perspective, the Northern (6%) and Western (8%) region exhibits the highest growth. Amongst industries much of the hiring growth will be led by Retail (45%), FMCG & D (45%) and Travel & Hospitality (44%). Further, from an education point of view, hiring for trade apprentices will be comparatively higher, standing at 36%, followed by hiring of graduates (24%) and diploma technicians (25%). Additionally, functional areas like Production & Engineering (23%), Sales and Marketing (18%) and IT (17%) will also see increased opportunities.