07th May 2024: Genpact, the global professional services and solutions firm with 125,000+ people across 30+ countries, and TeamLease Degree Apprenticeship (TLDA) are pleased to announce a significant initiative to expedite the adoption of apprenticeships in India. In collaboration with TeamLease Degree Apprenticeship, India’s leading privately owned Degree Apprenticeship program, Genpact intends to employ over 5000 graduate apprentices through the Ministry of Education apprenticeship program. This partnership aims to promote the growth of apprenticeships in India by providing graduates with on-the-job training and hands-on experience in their respective fields. Genpact’s collaboration with TeamLease Degree Apprenticeship will help develop a highly skilled and qualified workforce in India.
Apprenticeship programmes are critical to ensuring the availability of a skilled workforce ready to meet the dynamic demands of the IT & BPM industry. With the skill gap in the industry reaching an expected 3.85 million by 2027, it’s imperative to create a consistent supply of a productive talent pool. Genpact, through its unwavering commitment to apprenticeships, not only designs its growth trajectory but also boosts India’s young labour productivity and establishes a long-term talent supply chain for the industry. Over the last 5 years of its partnership with TeamLease Degree Apprenticeship, Genpact has trained 18,000+ apprentices, of which 95% were absorbed into its workforce after assessments and completion of the program.
The 12-month Graduate Apprenticeship Program extends the dual advantage of work experience while offering formal education. Additionally, it focuses on developing soft skills like communication, leadership, time management, and so on. TLDA’s active involvement with academic institutions and industry leaders to design course modules and improve apprenticeship assessments ensures that apprentices’ progress is closely monitored and assessments are executed seamlessly to provide both skill development and educational opportunities. Such measures are key to solving talent challenges, addressing the demand-supply gap in industries, demonstrating a commitment to workforce capabilities, and empowering individuals with valuable skills.
Ritu Bhatia, Global Hiring Leader & SVP-HR at Genpact, shed light on the company’s strategic decision to hire and onboard 5000 apprentices. She stated, “Our program isn’t solely about filling immediate skill gaps; it’s designed to cultivate a pipeline of talent prepared for long-term professional growth. By prioritising soft skills alongside technical expertise, we ensure that graduates are not merely job-ready but primed for successful, enduring careers. Apprentices are allowed to specialise in areas aligned with their interests and career objectives, allowing for personalized growth trajectories. Our Genome platform is pivotal in this journey, facilitating continuous upskilling across over 80 domains and 600 granular skills. For instance, an apprentice keen on generative AI can access dedicated resources, while another eyeing the company’s expansion in finance can leverage Genome to cultivate accounting proficiency. This focus on specialisation underscores our commitment to nurturing a future-ready workforce adept in specific fields, thereby bridging the gap between talent acquisition and organisational excellence.”
Mr. Dhriti Prasanna Mahanta, Vice President at TeamLease Degree Apprenticeship, shared insights on bolstering talent development and creating a skilled workforce through apprenticeship. He stated, “Apprenticeships have emerged as indispensable talent supply chain interventions across various industries, specifically in the last 4-5 years. However, the skill deficit of 3.85 million is a looming threat that IT and BPM businesses must address as a matter of importance. The current global macroeconomic headwinds have also forced businesses to implement drastic cost-control measures, which significantly influence talent development initiatives and require interventions to sustain growth without affecting their bottom line. In collaboration with Genpact, we understand apprentices’ vital role in bolstering talent development and establishing a skilled workforce, with major cost- and time-saving benefits. We are committed to bridging the skill gap through our organized apprenticeship programs that provide aspiring professionals with practical, hands-on training and supervision, ensuring they flourish in a tough environment and build successful careers”.