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 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 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.
About TeamLease Services Pvt. Ltd.
TeamLease Services is one of India’s leading people supply chain companies offering a range of solutions to 3500+ employers for their hiring, productivity and scale challenges.
A Fortune India 500 company listed on the NSE & BSE, TeamLease has hired 20 lakhs+ people over the last 20 years.
One of India’s fastest growing employers, TeamLease also operates India’s first NAAC Accredited Skill University and India’s fastest growing PPP Degree Apprenticeship Program.
The Company offers solutions to large, medium and small clients across the 3Es of Employment (over 2.9 lakhs associates/trainees), Employability (over 5 lakhs students) and Ease-of-doing Business (over 1000 employers).
In FY2015, TeamLease rolled out DA (Degree Apprenticeship) to provide on-the-job training to apprentices.