According to a new report by Teamlease Degree Apprenticeships, there is a 75% increase in apprenticeship opportunities across India, showing a significant 9% growth in the January-March 2023 quarter.
The 2023 Apprenticeship Outlook report shows the Net Apprenticeship Outlook (NAO) metric, a key indicator of employer sentiment, reached an all-time high, indicating a significant 75% increase in employer intent to engage apprentices in the upcoming October-March 2023 period. -24 half-years.
The Net Apprenticeship Outlook (NAO) increased significantly year-on-year (YOY), from 41% in 2021 to 56% in January-June 2022 and 66% in January-March 2023 over the October-March 2023-24 period. This compound annual growth rate (CAGR) of nearly 30% demonstrates how organizations view apprenticeships as a key talent development strategy, driving skills development, workforce development and talent pipeline building.
The HY1 Apr-Sep’23 and HY2 Oct’23 to Mar’24 Apprenticeship Outlook reports revealed an interesting landscape, with Engineering & Industrial (96%), Electrical & Electronics (94%), Telecom (93%), and Ecom & Technology products as the leading sector with the highest Net Apprenticeship Outlook (NAO) (90%).
Notably, these industries, along with five others, witnessed a significant increase in NAO in the October-March 2023-24 half-year compared to the previous quarter. This trend indicates strong growth potential for apprentices, confirming their key role in shaping the workforce of the future.
The report illuminates an insight — 41% of employers believe that degree apprenticeships stand out as a powerful strategy to effectively address the skills gap through seamless industry-academia collaboration. This recognition emphasizes the transformative role of apprenticeships in building a future-ready workforce, emphasizing a strategic commitment to developing talent, enhancing skills and establishing a strong talent pipeline.
This growth highlights the strong growth expected in India’s apprenticeship landscape, with major cities such as Bengaluru, Delhi and Hyderabad leading the charge. The report unveils a transformational phase for India’s workforce, promising unparalleled opportunities for skill development and career growth.
Employer satisfaction and reasons for hiring apprentices
70% of employers employed apprentices between April-September HY1, 2023, with 63% expressing satisfaction with apprentice performance. Employers cite ‘addressing skills shortages,’ ‘cost-effective talent development’ and ‘strengthening community engagement and CSR efforts’ as key reasons for hiring apprentices.
Gender preferences and expectations of workforce expansion
While 45% of employers have no gender preference, others show a preference for female candidates, particularly in BFSI (21%), retail (18%) and manufacturing sectors such as engineering and industrial (20%), automobiles and accessories (17%). and electrical and electronics (13%). Additionally, 47% of employers expect workforce growth of up to 10% during HY2: October – March, 2023-24, indicating a positive trajectory for apprenticeship engagement.
City-wise trend: Bangalore leads with 17% increase in NAO
Among metro cities, five out of six showed an increase in NAO for the October-March 2023-24 half-year, with Bengaluru leading at 85%, followed by Delhi at 82% and Hyderabad at 80%. The top three industries involving apprentices in Bangalore are Engineering and Industrial (89%), BFSI (86%), and Retail (82%).
Employer strategies and structured training programs
Structured training programs (53%) and regular mentoring and coaching (41%) emerged as preferred strategies for apprentices to engage, reflecting their commitment to development. A remarkable 78% of employers report that more than half of their apprentices successfully complete their training.
Availability of real-time skills (35%) and business growth (21%) are the top reasons employers predict an increase in apprenticeship recruitment. These statistics underscore the critical role of apprenticeships in contributing to real business results.
Demand Apprenticeship Division
Elective trades (82%), designated trades (80%), and diploma apprenticeships (77%) topped the list of sought-after apprenticeship categories. Fitter/Mechanical Assembly (31%), Production Engineer (26%), and Computer Networking Technician (19%) are the most in-demand career opportunities in optional/prescribed trades, while Machinist (22%), Production Apprentice (16%) , and mechanic (12%) are the top three roles in trade apprenticeships.
In a diploma apprenticeship, the roles are Technical Service Engineer (25%), Machine Operator (18%), and Data Analyst (15%). Among graduate apprentices, positions such as electrical and electronics engineer (25%), mechanical engineer (17%), and automobile engineer (14%) are highly sought after.
Sumit Kumar, Chief Business Officer, Teamlease Degree Apprenticeship, said, “The primary factors driving growth are availability of real-time skills, cost effectiveness and driving community engagement under CSR. Also, initiatives from Govt. PLI and Make in India are driving employment opportunities for which employers are relying on apprenticeships to build a talent pipeline.”
Dhritti Prasanna Mahant, Vice President, Teamlease Degree Apprenticeships, added, “The total number of apprentices placed has increased by 30% over the last five years, and growth in the retail, BFSI and logistics industries is forecast to reach 67% during this period. Next 3 years.”
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