According to a recent global staffing report, the Indian staffing market is going to witness a booming phase in near future – and going forward, the key sectors, going to be its chief growth drivers include the Banking, Financial Services and Insurance (BFSI), e-commerce, retail, infra sectors, that together are likely to add more than 1 million jobs by end of this year.
“With automation and innovation changing the nature of the work, BFSI contributes 12 per cent, infrastructure, construction and energy contribute 11 per cent, retail and e-commerce together comprise 5 per cent in the national flexi staff,” said the report released by Indian Staffing Federation (ISF), an apex body of flexi staffing industry, adding that while till 2021, country’s BFSI sector would create 52,500 jobs, the organised retail would be able to create over 12 lakh jobs across the country.
With regards to future, ISF President Rituparna Chakraborty, however, noted that the country is suffering from acute low levels of productivity at the workplace that emanates from a real crisis – which according to him, stems from a ‘shortage in skills’.
Chakraborty, thus added that despite sitting on large volumes of jobs, businesses are only are able to hire only 5 per cent of the youth that reach out to them on a daily basis.
BFSI sector in India is valued at Rs. 81 trillion and is slated to become fifth largest in the world by the year 2020 and third largest by the year 2025.