TeamLease Services Report Reveals Critical Need for Skilled Workforce to Unlock India’s 5G Potential
National, 17 June, 2023 – TeamLease Services, India’s leading staffing conglomerate revolutionizing employment and employability, has released its highly anticipated telecom report titled “India’s 5G rollout: Revolutionizing the People Supply Chain”. The report underscores the critical importance of cultivating a skilled workforce of at least 8mn million by 2025 to fully leverage the transformative power of 5G technology in India.
The comprehensive report reveals fascinating insights into the impact of 5G on job creation and upskilling in the tech talent pool. A staggering 80% of respondents identify IT and Banking and Financial Services as the primary beneficiaries of 5G, recognizing the immense growth potential and innovation opportunities in these sectors. The report further highlights the significant impacts expected in industries such as BFSI (60%), Education (48%), Gaming (48%), and Retail and e-commerce (46%), painting a vivid picture of the transformative power of 5G across diverse industries.
However, the telecom industry faces a considerable demand-supply gap of 28%, emphasizing the urgent need for comprehensive upskilling and reskilling initiatives. To bridge this gap, it is essential to equip the current workforce with the necessary skills and knowledge to meet the evolving demands of the industry. Encouragingly, 88% of employees express a preference for upskilling, indicating a strong desire to enhance their existing skill sets. Additionally, 11.2% of employees show a preference for reskilling, presenting significant opportunities in the job market for fresh talent.
Kartik Narayan, CEO – Staffing, TeamLease Services, commented on the survey findings, stating, “The advent of 5G heralds a transformative era in the world of work, unlocking a wealth of opportunities for India’s tech talent pool. With substantial investments, such as the PLI scheme allocating INR 12,000 crore to the telecom sector, with approximately 25% dedicated to creating new jobs, we are poised for a positive outlook on job creation and upskilling. This gives us the confidence to harness the potential of 5G, creating unprecedented job opportunities, driving innovation, and shaping a transformative future.”
The report highlights the impact of 5G on job creation over the next few years. On a year-on-year basis, 46% of participants anticipate job creation ranging from 61% to 80% within the first year of 5G’s implementation. Looking ahead, the positive trend continues, with 41% of respondents foreseeing a significant impact of more than 80% on job creation over the next 3 years of the 5G rollout. Even within the next five years, 50% of respondents envision an impact ranging from 80% to 100%.
Discussing the specific tech roles, Kartik added, “The impending 5G rollout is expected to lead to an 80% increase in tech-related jobs. Telecommunications companies embracing 5G solutions present a promising growth opportunity. As telcos leverage the potential of 5G in network upgradation, migration, IoT/IIoT, mobility, network infrastructure, and network security, we anticipate increased hiring for specialized roles. This advancement creates new opportunities and drives demand for roles such as technical content writers, networking engineers, AI/ML professionals, UX designers, cloud computing engineers, cybersecurity specialists, data science and analytical experts, and more.”
The game-changing speed and reliability of 5G will revolutionize work practices and reshape talent acquisition. To thrive in this fast-paced 5G landscape, individuals must proactively upskill, gaining the necessary expertise. By embracing early upskilling initiatives, they can establish themselves as frontrunners in the era of 5G opportunities, gaining a competitive edge. With 5G’s transformative power on the horizon, early adopters of upskilling will navigate the evolving job market, seize emerging roles, and drive innovation in this ground-breaking era.
The “India’s 5G rollout: Revolutionizing the People Supply Chain” report covers 247 companies and is a detailed deep dive on the impact of 5G on the ecosystem and employment generation.