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Manufacturing companies to hire more graduates from the 2024 batch: Report

Manufacturing companies

Manufacturing companies in India are increasing recruiting as they seek to expand their operations and fulfill rising demand for their products. According to an ET article, manufacturing firms intend to hire 15-30% more graduates from the 2024 cohort than from the 2023 batch.

This comes as recent economic instability has wreaked havoc on fresher recruiting across India’s top business and engineering colleges, but it hasn’t stopped some of the country’s largest firms from doing the opposite.

Tata Steel, Maruti Suzuki, Larsen & Toubro, JSW Group, Dabur, Vedanta, Schneider, and RPG are among the companies that are dramatically increasing their intake of entry-level, tech-savvy people. This stands in stark contrast to the tech sector, which has typically been the leading recruiter of white-collar workers but has significantly reduced newer hiring owing to macroeconomic uncertainties.

According to them, the intake would expand beyond the prestigious IITs and IIMs to Tier 2 and Tier 3 universities.

Manufacturing companies

“Young minds are frequently up to date with the latest trends and technologies, possess a strong understanding of digital tools, and can contribute effectively towards digital transformation initiatives,” JSW Group’s chief human resources officer Dilip Pattanayak told ET. The company plans to hire 2,000 additional staff, including 1,600 graduate engineer trainees (GETs).

“Hiring young fresh talent provides opportunities of reverse mentoring for the leaders with whom these talents work,” he said.

According to C. Jayakumar, executive vice president and CHRO, engineering behemoth L&T plans to hire around 2,700 fresh graduates from prestigious institutions such as IITs and NITs.

According to him, campus hiring fosters the development of future leaders. “It also contributes to optimising the overall staff cost, maintaining a youthful workforce, and shaping a well-balanced manpower structure,” he went on to explain. Tata Steel plans to hire 700 graduates from a variety of schools. “Given our future growth plan,” a corporate spokeswoman told ET, “this is a significant increase over 2023.”

He attributed it to rising business requirements such as capacity expansion, a bigger product line, and the utilization of cutting-edge technology.

Dabur India intends to increase campus recruiting by roughly 10-15%. Biplab Baksi, Executive Director of Human Resources of Dabur India, emphasized the critical importance of engaging with the ‘online’ youth through their chosen communication channels.

Baksi noted that in today’s digital environment, their specific modes of contact could not be neglected. Meanwhile, RPG Group’s Chief Talent Officer, Supratik Bhattacharyya, stated that their freshers hiring approach has been consistent throughout the years, acting as an important source for their talent pipeline.

Schneider Electric, a global pioneer in energy management systems, has identified India as its next global talent hub. According to Binu Philip, Chief Human Resources Officer (CHRO) for the Greater India Zone, the company’s yearly university recruiting rates have tripled since 2021. “We hire for India and the rest of the world,” Philip said, saying that the organization is looking for talent in a variety of fields, including data analytics, digital services, data science, cybersecurity, and research and development.

In keeping with this trend, Vedanta, a multinational conglomerate, expects to hire roughly 1500-1800 graduates from top-tier universities such as IIMs and IITs from the 2024 class, according to Madhu Srivastava, its CHRO.