Engineering, Telecom and Healthcare To Add 12 Million New Jobs by FY’26: TeamLease

TeamLease Digital, the specialised staffing division of TeamLease Services today launched a comprehensive report covering the employment trends across Engineering, Telecom and Healthcare titled Professional Staffing – Digital Employment Trends Report. An in-depth report, it tables the hiring trends in the Engineering, Telecom & Healthcare sectors. It delves deep into specialized roles, the sought after skills, skill gap and measures undertaken to address the gap by employers, and market median salaries for these roles. It also throws light on the impact of technology proliferation and digitization on employment in the three sectors. According to the research, not only the contribution to GDP by Engineering, Telecom and Healthcare will see a rise in the next 5 years, even the job creation by the sector will grow significantly. The three sectors together is expected to add close to 12 million new jobs by FY’26. The total employment generated by the three sector together will rise from the current 4.56 million to 9.03 million in the next five years.

What more, the focus on recovery coupled with technology proliferation and digitization in these sectors will lead to an increase in demand for talent with high skill and expertise.  The demand for specialized roles will double by 2026.

Commenting on the findings, Mr. Sunil C, Head- Specialised Staffing, TeamLease Digital, said, “The Engineering, Telecom & Healthcare sectors are on the verge of an Industry 4.0 transformation. There is a shift from a central industrial control system to one where smart products and processes at the heart of their operations. This transition coupled with the PLI scheme and FDI(Foreign Direct Investment ) is driving an exponential demand, more so for talent with niche skills across these sectors. While in overall there will be a 25 – 27% rise in job opportunities created by the 3 sectors together, the demand for skilled talent or specialised staff will grow from the current 45, 65,000 to more than 90, 00,000 (estimated) by 2026.”

“It is not only the demand for talent, the road to recovery and growth has led to a shift in the employment model as well. The share of contract staff has grown from 10 – 11% of the overall employment to 16%. It is expected to be around 24% of the overall employment by 2026. Further, employers and candidates are not hesitating to explore newer models like gig. The percentage of gig model will grow by 17% by 2023” added Ms. Munira Loliwala, AVP - Engineering Staffing & RPO Solutions, TeamLease Digital.