Now Hiring! This Sector Is Likely To Create 1 Million Jobs In Next Few Years; Check Details Here

Industry leaders report that hiring has increased more than fourfold since COVID-19, with entry-level positions becoming particularly sought-after over the past two years

Industry reports indicate that the hospitality industry is now one of the largest providers of employment opportunities ( Image Source :Pixabay )

Experts anticipate the hospitality industry will create approximately 1 million jobs in the coming years, driven by significant expansion following the COVID-19 pandemic. According to Sanjay Shetty, Director of Professional Talent Solutions at Randstad India, the sector is facing a severe talent shortage, with the current demand-supply gap for talent standing at approximately 55-60 per cent, reported PTI. 

This highlights a substantial mismatch between industry requirements and the available talent pool. Shetty noted that the surge in demand following the pandemic has sparked a talent shortage, predicting this momentum to persist over the next few years with the creation of at least one million jobs.

Industry leaders report that hiring has increased more than fourfold since COVID-19, with entry-level positions becoming particularly sought-after over the past two years.

"Some companies are also turning to upskilling existing talent or recruiting from other industries to fill the void. While apprenticeships hold promise in bridging the demand-supply gap, they alone may not suffice. The industry requires a multifaceted approach encompassing improved compensation, better working conditions, and robust training initiatives to effectively address the talent crunch," Shetty said.

Randstad India stated that the post-pandemic tourism boom has led to a remarkable surge in hospitality hiring, especially for entry-level apprenticeships and trainee roles. The sector has experienced a growth of over 200 per cent in apprentice and trainee hires over the past two years.

Industry reports indicate that the hospitality industry is now one of the largest providers of employment opportunities, with the formal sector alone offering jobs to over 40-50 lakh individuals. Estimating employment in the informal sector is challenging, but it is substantial.

TeamLease Degree Apprenticeship Vice President and Business Head Dhriti Prasanna Mahanta said, "It is estimated that in 2023, the tourism and hospitality industry provided employment to around 11.1 million people. By 2024, it is expected to require a workforce of 11.8 million individuals. This demand is predicted to increase to 14.8 million by 2028, with an annual growth of 16.5 per cent.”

Mahanta added that in response to the current talent shortage, hospitality businesses are ramping up their efforts to attract and retain talent through competitive salaries, benefits, and opportunities for career advancement.