EV sector in India battles for high attrition amid need for talent

The EV sector is one of the booming industries emerging in India and worldwide. But due to some economic uncertainties in the world, EV vehicles and associated https://safetysignandlabel.com.au/ (naked url) firms in India are facing a lot of challenges in terms of high attrition rates. Further, a major talent war has erupted between firms that are going all out to poach talent from one another.

As of now the median tenure of middle to senior-level talent in the EV industry is standing at 1.8 years as compared with 4.1 years in the FMCG industry, 3.6 years in MSME manufacturing, a further 5 years in EPC, and 1.9 years in startups as per the ET report.

Moreover, the talent demand is not only in the local manufacturing firms who are eagerly in need to tap the potential talent but at the same time global businesses are also investing heavily in India for long-term returns. Some of the top talent seekers include Hero Electric, Mahindra Electric, Maruti Suzuki, ChargePoint, and more.

These postings are coming at a time when firms in the IT industry are on a major talent acquisition spree with hiring growth by 50% in the next year. Further, companies across the green vehicle ecosystem of EVs are looking to ramp up manpower to expand capacity and launch their scheduled new products.

“Particularly specialist roles like R&D, head of departments, after-sales service, and electric and electronic engineers are the vulnerable positions,” said Sohinder Gill, director general of the Society of Manufacturers of Electric Vehicles and Chief Executive of Hero Electric.

Gill further said that the company is one of the favourite poaching grounds for talent. “However, we have been able to retain our talent, not by matching rupee by rupee, but by helping employees through thick and thin. We strive to make our workspace exciting and informal with the least amount of rigid structures and try to create enough learning opportunities for the right talent,” he added.

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