Bengaluru (Karnataka) [India], March 21 (ANI): With India moving swiftly toward meeting its ambitious target of installing 500 GW of renewable energy capacity from non-fossil fuels by 2030, the industry is experiencing considerable changes in its workforce dynamics, as stated in a Teamlease report.
The quick growth of renewable energy initiatives is anticipated to boost both direct and indirect employment within the sector. This development is also driving changes in workplace dynamics, skill requirements, and employee retention patterns.
Acknowledging these changes, TeamLease Services, a prominent staffing corporation driving innovation in employment, job readiness, and business convenience, conducts a comprehensive examination of major employment patterns within the industry from the viewpoint of contract workers.
This demonstrates a substantial 23.7 percent increase in employment YoY for FY24, marking a considerable jump from the 8.5 percent recorded in FY23 and the 10.4 percent noted in FY22.
Even though forecasts suggest a minor slowdown to 18.9 percent in FY25, the sector continues to be a crucial driver for employment generation, aligning with the nation's goals for clean energy development.
The research demonstrates that the contingent workforce in the renewable energy sector is predominantly youthful, with 26.9 percent of workers falling within the 26-30 age range and 27.9 percent between 31-35 years old.
The sector likewise sustains a considerable prominence. experienced professionals , with 16 percent in the 35-40 age range and 18.2 percent in the 40-plus category. This equilibrium between youthful creativity and experienced specialists mirrors the sector's concurrent emphasis on cutting-edge ideas and profound knowledge.
As the sector expands, regional growth Trends have surfaced as well. In India, Rajasthan, Gujarat, Karnataka, and Tamil Nadu are at the forefront of solar energy production and host most of the nation's solar power facilities.
Furthermore, governmental programs like the PM Surya Ghar The Muft Bijli Yojana, National Green Hydrogen Mission, PM KUSUM, and the Solar PV Module PLI Scheme have played crucial roles in fostering the expansion of the renewable energy industry.
Such policies encourage investments in clean energy infrastructure and substantially aid in expanding the workforce and enhancing skills.
A closer examination of the work tenure distribution shows that a significant 38.6 percent of contract workers have fewer than twelve months of experience, with these figures decreasing as the length of service grows.
Among all employees, 29.6 percent possess between one to two years of experience, 11.8 percent hold from two to three years, 8.1 percent own three to four years of expertise, and merely 11.8 percent stay past their fourth year with the company.
Attrition continues to pose a challenge, as the rate dropped from 39.1 percent in Fiscal Year 2022 to 33.5 percent in Fiscal Year 2024 but is expected to climb back up to 39.4 percent in Fiscal Year 2025. This underscores the necessity of improving employee retention tactics.
Subburathinam P, the Chief Operating Officer of TeamLease Services, stated: "The Indian renewable energy industry stands at a pivotal juncture, fueled by robust governmental programs and escalating business commitments. This field is poised to create numerous employment opportunities, particularly for positions requiring advanced skills and technological expertise. Nonetheless, the primary hurdle involves tackling significant employee turnover and capability shortages via well-organized human resource strategies." (ANI)
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