According to a report, the engineering, telecommunications, and healthcare sectors are expected to add nearly 12 million new jobs by FY26, owing to a combination of recovery efforts and the proliferation and digitisation of technology in these sectors. According to a report by TeamLease Digital, specialised staff or professional staff with a high level of skill and expertise will account for nearly 17% of new jobs.
The report, titled ‘Professional Staffing – Digital Employment Trends Report,' is a qualitative study in which more than 750 employers/leaders from the engineering, telecommunications, and healthcare sectors were surveyed and interviewed, said the company.
“The Engineering, Telecom & Healthcare sectors are on the verge of an Industry 4.0 transformation. There is a shift from a central industrial control system to one where smart products and processes are at the heart of their operations,” stated Sunil C, Head- Specialised Staffing, TeamLease Digital.
Sunil added that the production-linked incentive (PLI) programme and foreign direct investment are accelerating demand, particularly for talent with niche skills across these sectors.
“While the combined effect of the three sectors will result in a 25-27 per cent increase in job opportunities, demand for skilled talent or specialised staff will grow from 45,65,000 to more than 90,00,000 (estimated) by 2026,” Sunil noted.
Additionally, the report noted that telecom, engineering, and healthcare collectively account for nearly USD 1.5 trillion in market value, according to conservative estimates.
They currently employ approximately 42 million people – approximately 8.7% of India's total workforce – and are expected to add 12 million jobs by 2026.
“It is not only the demand for talent, the road to recovery and growth has led to a shift in the employment model as well. The share of contract staff has grown from 10 – 11 per cent of the overall employment to 16 per cent. It is expected to be around 24 per cent of the overall employment by 2026.
The company also said that employers and candidates are not afraid to experiment with newer models such as gig work. By 2023, the gig economy‘s share of the workforce is expected to increase to 17%.
Rather than a traditional in-office full-time job with a single company, gig workers work as temporary, independent contractors, or short-term employees for one or more employers.