BENGALURU: The ongoing festive season will create over 2.5 million frontline jobs, and the demand for frontline workers will increase by 72% this festive season compared to last year, according to a report.
BetterPlace’s Festive Season Insight, released on Wednesday, said over 1.95 million job vacancies were created during FY22 festive season due to the post-pandemic boom, but in FY23, as spending decreased, the job vacancies dropped to 1.45 million.
However, the increase in demand for frontline workers in the festive season of this financial year seems to hint at a normalization of spending among consumers, the report added. More than 1.95 million job vacancies were created during FY22 festive season and again next year it declined to 1.45 million.
In FY23, industry average salaries have increased marginally by 3.25% when compared to the FY22 festive season. While Infrastructure and facility management & information technology (IFM&IT) witnessed a 30% increase in salary during the festive season of FY23, retail & QSR saw a salary increase of 7%.
“This can be attributed to the increase in demand for customer care services among enterprises and the consumer shift in shopping offline. However, salaries in e-commerce and logistics & mobility fell 8% and 16.7%, respectively. This can be attributed to the large supply of workers in this sector during the festive season,” the report added.
Pravin Agarwala, co-founder and Group chief executive officer at BetterPlace, said, “In the last few months we are seeing a significant shift in the nature of work and workforce in the country. While the demand for frontline workers continues to rise, it is largely driven by demand for semi-skilled workers. The supply of workers currently is not able to keep up with this demand.”
The festive season provides a massive opportunity for frontline workers to increase their earning potential. Also, low salaries during the festive season in the logistics & mobility and manufacturing sector resulted
in an increase in attrition, growing at 107% and 100%, respectively. However, high salaries by sectors such as BFSI and IFM&IT resulted in a decline in attrition in these sectors, decreasing by 23% and 58%, respectively.