Taggd Round-Up 2023: Automotive Industry

The automotive industry started 2023 on a favorable note in terms of hiring sentiment, and the trend is predicted to continue in the forthcoming years as the world witnesses greater digitization of the industry.

India’s rising aspirational class, a growing disposable income, and a thrust on ‘Make in India’ for the world are driving factors that are pushing the industry’s upward trajectory and keeping the talent demand high.

• Sharp focus on tech skills: Hiring in the auto industry experienced a surge in activity in 2023, driven by several factors, including the shift towards electric vehicles (EVs), the development of autonomous driving technology, and the increasing emphasis on data analytics and artificial intelligence (AI). Automotive companies were particularly keen on recruiting talent with expertise in these areas, as they sought to position themselves at the forefront of leading the change from traditional manufacturing to technology-led manufacturing in Industry 4.0. 
• Focus on soft & transferable skills: Beyond tech skill sets, automakers also sought candidates with strong soft skills, such as adaptability, problem-solving, and collaboration. These skills were deemed essential for navigating the changing landscape of the industry and contributing to the success of digital transformation initiatives. 
• Welcome diversity & equality: Auto majors like Mahindra & Mahindra emphasized building teams that are diverse and promote equality irrespective of backgrounds. The focus is solely on merit. 

The reason is clear. According to Mr. Manish Sinha, CHRO-Mahindra, “Having a diverse workforce will lead to higher employee engagement and better decision-making, resulting in lower turnover and a better reputation, making your company an employer of choice.” 

• Demand for traditional roles remains: While the demand for tech talent continues to be on a trot, demand for traditional auto jobs remained consistent this year, allaying outright fears of traditional auto talent becoming redundant with the rise of EV tech. While upskilling among the workforce is definitely required, traditional job roles will be in demand, according to Mr. Sanket Patil, Head HR, Mahindra & Mahindra – Farm Equipment Sector
• Cross hiring: Auto industry continued to seek tech talent from the IT and ITes sectors to build a strong digital customer experience for its vehicles. The talent pool stands to benefit from this inter-industry mobility, with more opportunities to explore diverse career paths. 
• Tie-ups with educational institutions: Fresher hiring continued this year too, with the auto industry tapping into their collaborations with educational institutions to onboard skilled talent.

Overall, hiring in the auto industry in 2023 was marked by a strong demand for skilled professionals with a diverse range of expertise.

Read Now: How Taggd Ramped Up Hiring for an EV Major by 2x

• 2024 is supposed to see a 30-35% increase in hiring sentiment over 2023, indicating better times for the recruitment landscape.
• The split of hires in terms of work experience is expected to remain the same, with maximum hiring of middle management (6-10 years experience) expected next year too.
• The demand for skilled talent will sustain with 80-85% hires expected to hold an engineering or equivalent degree.
• The scope to work virtually in the auto industry remains redundant, but the hybrid work model shall continue with an expected split of 70:30 between the office and hybrid model.
• Internal referrals continue to be prioritized and are expected to drive a substantial share of hires (almost 35-40%).
• In terms of talent pool availability- Pune, Mumbai, and Bengaluru remain the top three cities for the auto sector.

As the industry stands on the brink of digital transformation, strategic and effective hiring practices will be pivotal to navigating this transformative wave. If you are seeking to optimize your recruitment processes and derive greater value from your hiring strategies, we invite you to connect with us at contact@taggd.in.

For a detailed discussion of your requirements, kindly consider scheduling a complimentary consultation call with our team of hiring experts.