Despite global headwinds, as a result of the proactive efforts towards “Make in India” and India’s aim to become a global manufacturing hub, Indian manufacturers posted a 36% increase in job postings, reveals a report.
Data released by Indeed, a global matching and hiring platform, indicates that production/manufacturing continues to remain one of the most hired functional areas in the past year. Functional areas refers to the clubbing of employees with similar skills and expertise into teams.
The data does, however, point out an interesting trend: while recruiting in this industry has seen a consistent uptick, there has been a marked decline of 3% in job seeker interest in manufacturing positions, resulting in a 40% talent mismatch in this industry.
Sashi Kumar, head of Sales, Indeed India, says, “As the country strives to position itself as a global export leader, it is crucial to address the talent mismatch to ensure that the industry continues to grow.”
He suggests that investment in upskilling will create a skilled talent pool that will correctly understand technology to ensure higher efficiency without leading to an unnecessary loss of jobs. Moreover, advocacy for upskilling and reskilling programs can also help bridge the gap between job seekers and employers.
“The government’s efforts in promoting the manufacturing industry can [also] provide a conducive environment for job creation,” he adds.
Echoing similar results, the quarterly survey by Federation of Indian Chambers of Commerce and Industry (FICCI), March 2023 displayed a positive hiring sentiment for manufacturing sectors such as, capital goods, cement, electronics, petrochemicals and fertilizers, textiles, apparels, and technical textiles.
The survey findings reveal that the growth momentum witnessed in the previous fiscal year has continued into subsequent quarters. “The survey observes that after experiencing revival of the Indian economy in the FY 2021-22, momentum of growth has continued for the subsequent quarters as well. In the January to March period of FY 2022-23, 55% of the respondents reported higher production levels. Further, over 57% of the respondents expect a higher level of production in April to June period of FY24 with an average increase in production in single digits,” the survey notes.
In regards to moonlighting (the act of engaging in a side gig in addition to one’s day job), the Indeed data revealed that within the manufacturing sector, 79% of employers are not in favour of moonlighting, believing that it violates their employment contract and work ethic.
This could potentially mean that it would result in a loss of additional revenue for a sizeable portion of blue-collar workers in this industry, which may possibly be a contributing factor to the slight fall in applicants this year.