23% of employers say hiring apprentices could unlock business growth opportunities
According to a report by TeamLease, as reported by The Indian Express, the majority of employers in India are interested in increasing the number of apprentices they hire in the first quarter of 2023 (January to March). The report shows that 79% of employers are planning to hire more apprentices during this period, which is slightly higher than the 77% who were interested in doing so during the second half of 2022.
The survey also revealed that around 37% of employers are looking to increase their intake of apprentices because they see them as a source of real-time skilled talent in the job market. Furthermore, 23% of employers believe that hiring apprentices can help to unlock business growth opportunities.
The Net Apprenticeship Outlook (NAO), which is calculated by subtracting the number of employers looking to decrease their apprentice intake from those looking to increase it, is currently at 66%. This suggests a positive outlook among employers for apprenticeships overall. However, the NAO for the first quarter of 2023 is 3% lower than it was during the second half of 2022.
Overall, the report indicates that employers in India are increasingly recognising the benefits of hiring apprentices and are looking to increase their intake in the coming months.
Sunat Kumar, TeamLease Degree Apprentice Chief Business Officer – Manufacturing commented: “As India Inc continues to recognise the prowess of apprenticeships in developing a strong talent pipeline, it’s heartening to see the proportion of employers willing to expand their apprentice engagement in the quarter has increased. Employers are realising that apprenticeships with a degree linkage have better competencies.”