Festive season to create 2.5 million frontline jobs: Report

Festive season to create 2.5 million frontline jobs: Report

The ongoing festive season is expected to see a 72% year-on-year spike in demand, which will lead to creation of new jobs as companies strive to keep up with the demand surge. With the season in full swing and sales galore, full-stack workforce management SaaS platform BetterPlace has released the first edition of its Festive Season Insights report, which analyses the trends and insights around the frontline workforce ecosystem during festive months. Here are some key insights from the report:

– 2.5 million jobs are expected to be created in the festive months of October, November and December 2023

– With mega sales becoming bigger than last year, the demand seems to have spiked and is slated to increase by 72% this year

– Industry average salaries have risen marginally by 3.25% from the festive season of FY22

– Infrastructure and facility management & information technology (IFM&IT) witnessed a 30% increase in salary during the festive season of FY23 with retail and QSR witnessing a salary increase of 7%, which can be attributed to the increased demand for customer care services among enterprises and the consumer shift in shopping offline

– Salaries in ecommerce and logistics & mobility decreased by 8% and 16.7%, respectively, largely because of the large supply of workers in this sector during the season- During the season, logistics & mobility and manufacturing saw the highest levels of attrition- Low salaries during the festive season in the logistics & mobility and manufacturing sector resulted in a massive growth in attrition, growing at 107% and 100%, respectively

– However, high salaries offered by sectors like BFSI and IFM&IT resulted in a drop in attrition by 23% and 58%, respectively

According to Pravin Agarwala, co-founder and group CEO at BetterPlace, “The festive season provides tremendous opportunity for frontline workers to increase their earning potential. However, without the right skills, they are unable to unlock this potential. Moreover, during this time, we are also seeing that industries which hire semi-skilled workers pay salaries which are significantly higher than that of industries which hire unskilled workers. Sectors like IFM&IT saw salary hikes of over 30%.”

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Author: Shirley