TeamLease Services, a pioneering staffing conglomerate in India, has introduced the ‘Consumer Durables & Electronics – A Staffing Perspective Report,’ shedding light on the burgeoning consumer durables and electronics sector.
As India solidifies its position as the fastest-growing major economy globally, the report forecasts the nation’s ascent to become the third-largest consumer market by 2027. The workforce in this sector plays a pivotal role in bolstering its capacity to cater to consumers effectively and achieve sustainable growth. The report emphasizes the significance of this workforce in swiftly meeting the industry’s demand for diverse talent.
Amid Consumer Durables & Electronics Growth, 57% Attrition Demands Action: TeamLease’s Staffing Perspective Report on Consumer Durables & Electronics
Key Insights from the Report
- High-Demand Roles: The report identifies critical temporary roles such as in-store promoters, service technicians, supervisors, sales trainers, channel sales executives, customer support executives, warehouse in-charges, tele support executives, and electronics engineers crucial for the industry’s expansion.
- Market Segmentation: From small appliances like kitchen appliances, LED lights, and electric fans to large appliances including ACs, refrigerators, and washing machines, and a range of consumer electronics like TVs, mobile phones, computing devices, and digital cameras are covered in the comprehensive analysis.
- Market Projections: The AC market is expected to reach $5.8 billion by 2028 with a CAGR of 15%, while the mobile phone market is anticipated to grow to $61.2 billion by 2028 at a CAGR of 6.7%.
Workforce Profile and Geographic Analysis
- Demographic Breakdown: The temporary workforce is predominantly male (94%) with an average age of 31 years and an average tenure of 2.8 years. A significant portion has education levels below the 12th standard, necessitating tailored training for skill development.
- Geographic Distribution: The South region boasts the highest concentration of the temporary workforce, with Tamil Nadu, Karnataka, Maharashtra, Uttar Pradesh, and Telangana witnessing substantial growth in temporary jobs. Key cities driving job growth include Bengaluru, Hyderabad, Chennai, Kolkata, and Mumbai.
Addressing Challenges and Enhancing Efficiency
- Attrition Insights: The report delves into challenges related to attrition, distinguishing between regrettable and non-regrettable attrition. Attrition costs to organizations and opportunity costs are outlined, underscoring the need for proactive retention strategies.
- Expert Perspectives: Balasubramanian A, Senior Vice President at TeamLease Services, emphasizes the impact of attrition on organizational growth and advocates for strategic talent management. Kartik Narayan, CEO of Staffing, highlights the importance of understanding the temporary workforce dynamics for sustainable sector growth.
Case Studies and Success Stories
The report showcases successful case studies where TeamLease Services implemented tailored solutions to address workforce challenges, resulting in substantial cost savings, reduced attrition rates, and enhanced employee engagement and productivity.
In conclusion, the ‘Consumer Durables & Electronics – A Staffing Perspective Report’ by TeamLease Services offers invaluable insights to optimize staffing strategies, drive efficiency, and propel growth in the dynamic consumer durables and electronics sector.
Here’s the entire study in PDF:
