‘Country is witnessing huge demand for manpower’

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November 17, 2021 8:11 AM

In an interview with Surya Sarathi Ray, RP Yadav, chairman and MD of the Kolkata-based firm, said companies, across sectors, are on a talent acquisition spree, be it front-liners, mid-segment or the higher segment. Edited excerpts:

RP YadavRP Yadav, chairman and MD of the Kolkata-based firm

Staffing services provider Genius Consultants currently outsources 52,000 employees to 875 firms across the country. In an interview with Surya Sarathi Ray, RP Yadav, chairman and MD of the Kolkata-based firm, said companies, across sectors, are on a talent acquisition spree, be it front-liners, mid-segment or the higher segment. Edited excerpts:

How is the employment situation now? Are job offers rising?

Currently, India is witnessing a huge demand for manpower. Most of the sectors have huge requirements, particularly in e-commerce, healthcare, pharma IT & ITes, manufacturing, retail, infrastructure, airlines, tourism and its allied sectors.

India is in a better position now in terms of employment generation. Demand is there in the permanent, temporary, casual and even in gig segments. Factories and manufacturing units are operating in full swing. So, the MSMEs are also operating in full capacity. As a result, the demand for informal workers is very high.

In the permanent segment, the requirement is for the frontline workers wherein the remuneration is Rs 20,000-30,000. Here, demand has gone up by 30-40%. This is followed by demand in the mid-segment with a salary bracket of Rs 50,000 to Rs 1 lakh. Here, the demand has gone up by 15%. The higher segment (Rs 1 lakh onwards) has seen a surge of 10-12%. Demand has also gone up in the gig segment. With the festive season, there is demand for gig workers in food industry for platforms like Swiggy, Zomato and in transportation for companies like Ola, Uber etc.

What is driving this heightened demand for manpower and how long the current trend may continue?

There are a couple of reasons. During the Covid first and second waves, most of the companies reduced their manpower by 15-20%. They are recruiting back. Another reason for such high demand is that Covid cases have subsided and common people and industrialists have overcome the fear of the virus due to mass vaccination drive. The industries have boosted their production and sales to overcome the losses for the last one and half years. In fact, the figure for GST collection by the government in the last two months was between Rs 1.17 lakh crore and Rs 1.30 lakh crore and in November, it is expected to rise to more than Rs 1.50 lakh crore. Even the airfare has gone up by 3-4 times. The economy is rebounding; hence, the job market is witnessing a surge.

Yes, companies are offering incentives to the new joiners —joining bonus, buying the notice period, among others, because people have 2-3 offers in hand. There is a 15-35% chance that the candidate may not join a prospective company as he/she has more choice.

Which age group is in higher demand? What are the skill sets on demand?

Candidates are being treated equally, there is no favouritism of males over females. Around 80% of the demand is for the 22-27 years age group for jobs like support staff in offices, labourers, sales personnel and frontline developer and support in IT sector. The skill sets in demand are: sales, web development, artificial intelligence, java, bike riders, robotics etc.

How many employees do you have now including those who work at the client site?

Genius Consultants has 52,000 employees outsourced to 875 companies across India. Three months ago, we had 44,000. In the direct payroll of Genius Consultants, there are 500 employees. It was 385 three months ago. In the coming three months, we expect to add 10,000 staff in the outsourced segment and around 150 people to our direct payroll. Our clients are in expansion spree.

Will implementation of minimum wage and other provisions in the labour codes benefit job generation or will they create hurdles going forward?

Our national average wage in comparison to many other countries is still on the lower side. Therefore, I feel it will not be a hurdle but will help to create formal employment. As we all are aware that 85% of workers are working informally which is not beneficial for the employees or the government or the economy. Those employees are exploited, and I think this needs to be changed. Even the government losses out on revenue from PF, ESI, GST, etc.

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