The Indian Automotive industry.
Study by Times Jobs.Com Recruit X
According to TimesJobs.com data, during January to June 2013, Automobile industry witnessed growth in demand for talent during March (10%), May(5%) and June 2013(7%).
The maximum dip in demand for talent was observed during February(9%), On the supply side, the industry witnessed growth in supply of talent during five out of six months, through the January to June2013.
April turned out to be the only month that witnessed a dip (12%) in supply, Maximum jobs-seeking activity was witnessed during June2013(28%), followed by May(18%).
According to Jennifer Fernandes, country directory, HR, Faurecia, hiringhas been slow during the first September of 2013 mainly in technical domains such as engineering and R&D, However support functions in the auto sector continue to be in demand, especially HR and Finance verticals.
According to Sunil Goel, MD, GlobalHunt, R&D professionals have been in demand, followed by manufacturing and sales and services professionals, Off-shoring trends in non-engineering segments are gaining pace as well.
· Engineering professionals turned out to be the maximum(35%) shareholders of totals jobs generated in the industry.
· IT professionals witnessed the maximum growth(26%) in demand for talent.
· Support functions in the automotive sector continue to be in peak demand
Challenges faced by the Industry.
Goel believes that the existing talent pool available in the market is not enough to meet the requirements of the growing automotive sector. ”the automobile sector is not a top choice for engineering students, as R&D process are still based on the basic methodologies Also, with limited growth opportunities and restrained cross functional movement candidates are not very eager to join this sector,” he stated.
Highlighting the solution for the same, he suggested that industry academia connect is the right way to go. He believes this connect would facilitate the creation of a sustained talent pool andalso attract young skilled talent towards the sector.
“Industry specific courses must be initiated in Tier I and Tier II regions, thorough industry and university collaborations.
Individuals must be shown a long term growth plan and offered more opportunities for cross-functional movement, job rotations and benefits in order to attract them.”He stated.
According to Goel the compensation scenario has not been grate for engineering candidates, as compared to other industries such as Telecom and Power/Infrastructure. There has been an increase in compensation offered in the commercial and passenger segments due to increased number of employers and competition. However, the two-wheeler segment did not see a major difference. Auto-ancillary segment saw an increase in the compensation offered.
“Automobile has been one of the India’s fastest growing markets Industry will sustain its volume and sales if it keeps innovating and upgrading the product, as better product results in better revenue, The future is bright and companies will have to consistently attract talent through long-terms options, providing them cross functional international assignments,” said Goel.