India's Renewable Energy Sector Faces Skills Gap
The problem is made worse by high costs of labor, high employee attrition rate, and a lack of thought leadership, as per Ishwa Consulting survey
Ishwa Consulting, an executive search firm and a part of the global IMD International Search Group has announced a survey report based on a recent roundtable discussion with industry specialists on the renewable energy sector. With regard to its access to a senior talent pool and thorough search procedures, the company has demonstrated its skill in disrupting the executive search sector. The findings highlight important talent concerns and offer creative ideas to address them.
India's renewable energy industry is facing significant challenges as a result of the country's aggressive plans to attain net zero emissions by 2070 and 50 per cent renewable electricity by 2030. Key opinion leaders and specialists from the HR and renewable energy sectors gathered at Ishwa Consulting's roundtable to discuss the critical intersection between talent and sustainable energy.
The survey report describes the industry's challenges. The talent deficit in India's renewable energy sector is an important concern as 3.4 million new jobs could be created by 2030, a result of ambitious goals driving an increase in the need for trained individuals. But the quick expansion has overtaken the growth in education, creating a skills gap. The problem is made worse by high costs of labor, high employee attrition rate, and a lack of thought leadership. In addition, women continue to make up only 11 per cent of the workforce in India's rooftop solar industry, whereas the global average is 32 per cent.
Arvind Pandit, Founder & Managing Partner of Ishwa Consulting throws light on the future of renewable energy sector by saying, “The renewables sector has seen significant growth in recent years. Future growth looks promising, driven by increasing investments, government policies, and technological advancements. The industry has realized that long-term success is possible only if it works on structurally solving talent challenges. They have to build a skilled talent pool that can drive growth for renewable projects.”
The report also provides solutions to such challenges. It recommends nurturing in-house talent, reaching out to executives in closest businesses, and hiring graduates from tier two and three cities in order to draw in talented individuals. Partnerships with vocational colleges and on-the-job training are essential; the Suryamitra Skill Development Programme is one such successful initiative. Opportunities for professional advancement and millennial-specific regulations might enhance talent retention.
However, women's representation has improved as a result of initiatives to support diversity and inclusion, such as establishing diversity targets and integrating them into core operations.
The research by Ishwa Consulting emphasises how important it is to have creative talent strategies in order to help India achieve its goals for renewable energy. The industry can create a strong and long-lasting talent pipeline for the future by tackling these issues and putting the suggested solutions into practice.
