TeamLease: India Inc. A 32% increase compared to H2 2021
TeamLease Degree Apprenticeship, a leading enterprise from the house of TeamLease Services, revolutionizing employability in India, has launched its Apprenticeship Outlook Report for H2 (July to December 2022).
A comprehensive analysis of the apprenticeship hiring trends across enterprises, sectors, and regions indicates that 77% of employers are likely to increase their apprentice pool in H2 2022 as compared to 45% in H2 2021.
Overall the Net Apprenticeship Outlook (NAO) has soared to 69% for the current HY (Jul – Dec 2022) – an increase of 13% over Jan – Jun 2022, the steepest over the last two years.
It is marked by an unprecedented increase in NAO growth for specific sectors and cities.
Basis the report, out of 24 sectors, employers across 12 industries have improved their outlook (NAO) by 10% or more.
The Electrical & Electronics sector tops the list with the highest NAO (92%) in the current HY. It reports a surge of 67% in NAO, the highest surge in this HY by any sector compared to the previous HY.
This is followed by Aerospace and Aviation (88%) and Engineering & Industrial (87%, up from 82%), which drive talent demand in the form of apprentices.
In addition, two more new sectors, including Repair & Maintenance services and Power & Energy, have remarkably recorded high NAOs of 81% and 72%, respectively.
Household and office services have revived post-Covid. India, the third-largest worldwide energy sector, is seeing the materialization of substantial untapped potential for apprentice engagement.
Incidentally, manufacturing sectors also continue to witness positive momentum, driven by the emphasis on PLI (Production Linked Incentive) Scheme to boost manufacturing in India.
“Over the past couple of years, there has been significant progress in the adoption of apprenticeships in India. As businesses see a stronger return on investments, more employers are looking to leverage apprenticeships as the key source of talent. Small businesses are the most optimistic and report a doubling of NAO for Jul – Dec 2022 to 70%, up from 32%. Additionally, gender neutrality in apprentice engagement is evident amongst employers across industries. Manufacturing exhibits the highest level of gender neutrality (51%), followed closely on its heels by the Services industry (48%) as compared to the previous HY.”Sumit Kumar, Chief Business Officer TeamLease Degree Apprenticeship, said,
“A lot of the positive optimism in the ecosystem is also driven by the push from the New Education Policy 2020 and the increase in academia-industry partnerships to boost degree apprenticeships. Locations beyond Tier I have also seen an increase in apprentice engagement. As per our report, non-metro cities have witnessed a surge in the adoption of apprenticeships in HY compared to metro cities. Pune tops the NAO chart (80%) for the current HY, followed by Kochi & Coimbatore, each with NAO (77%). However, simplification, consolidation, and formalization are the need of the hour for India to scale to its potential of 10 million apprentices in 10 years. While the industry has taken few steps towards simplification, there need to be more aggressive efforts on this front.”,added Mr. Kumar.
Most employers (62%) believe that increased apprentices’ engagement will facilitate their business growth.
A major proportion of these also believes that apprentice engagement will enable them to create a more cost-efficient workforce and ease in creating a talent pool.
The Apprenticeship Outlook Report thoroughly covers 12 cities and 24 sectors.
The report has surveyed 789 employers and captures the appointment sentiment for the period HY (July to December) 2022.
About TeamLease Degree Apprenticeship:
TeamLease Degree Apprenticeship is India’s first and largest Degree Apprenticeship Program, delivered in collaboration with the TeamLease Skills University (TLSU), the Ministry of Education, the Ministry of Skill Development and Entrepreneurship, the CII, and the NSDC.
The organisation has employed about 600,000 apprentices with over 1000 employers. Approximately 98% of these apprentices have transitioned into formal employment, with around 40% working for the same organisation.
TeamLease’s Degree Apprenticeship Program focuses on increasing the employability of our country’s young and bridging the skill gap.
TeamLease Skills University (TLSU) is India’s first vocational skills university as well as India’s first NAAC-certified University that offers employment-oriented multi-level programs.
About TeamLease Services Pvt. Ltd.: