A new direction to talent hiring in retail industry with apprenticeships
The retail industry has seen a great leap in expansion with advancements each day. previously what had just been only brick and mortar stores are now expanded into online retail stores and the emergence of e-commerce giants.
The surge in demand for operations in the retail sector has attracted new requirements for human resources. The retail industry is in need of efficient skills to manage a variety of operations including labelling, packaging, inventory, QC, online payment and delivery. However, the availability of cheap labor in the market may not be a good fit for the industry. This results in massive skill gap in the Indian retail industry.
Apprenticeship in retail industry
Additionally, the growth in the retail industry is expected to grow from 15% CAGR to 18% CAGR by 2025. The current value of the retail industry have increased by ~50% in the given period of 2012-2020. The massive surge in online spending indicates that the market will reach ~500mn in 2030. Thus, the magnitude of retail market can be deciphered.
Considering the growth rate of the industry, the industry is enthusiastic towards hiring apprentices in India. As per Apprenticeship Outlook Report for 2021, 41% of the employers in retail and service industry are being open towards hiring apprentices. According to National Employment through Apprenticeship Programme (NETAP), more than 64% of companies among 500 surveyed companies are willing to take up apprenticeship programs to meet their talent needs.
5 reasons why apprentices are favorable in retail industry
Benefits to business organizations
- Apprentices can be trained as per the needs of the organization. They can be trained through constant learning and knowledge sharing to meet the talent needs.
- Apprentices have hands on experience and training on specific retail based operations. This gives them a better understanding of the operations which in turn helps them serve the company better.
- Apprentices serving in the organization most likely to get retained and serve the organization in the long run.
- Apprentices can be valuable for the growth of the organization as they bring forth new ideas and fresh energy. Hence they can be highly beneficial for the organization.
- Organizations can leverage the opportunity of government funding. This can be utilized to save the expenditure on recruitment while getting quality talent relevant for the organization.
Business apprenticeship programs have become a proven asset to business organization in the long run. They are considered as the best way to fit in variety of new roles that are likely to emerge in the future years.
One of the most significant advantages of hiring apprentices is that apprentices are self-motivated. They remain committed to the organization as they can acquire new skills and earn a qualification at the end of their apprentice period. Acquiring knowledge and skills remains valuable to the apprentice and the organization at large. This provides an added opportunity to attract and secure potential talent in the organization.
Why become apprentice in retail industry?
apprentice in retail industry
Why would anyone spend years of time to acquire new skills? In today's face-paced environment, people do not spend amble of time studying and learning new skills. Apprenticeship is the best way for those willing to make a bright career in the retail space.
It is a preferable way to earn and gain a qualification at the same time. This enables the apprentices to gain industry-relevant skills and advance their career forward. It is now being considered as a high-quality career roadway where one can earn portable credentials. Most importantly, apprentices can earn a competitive wage as they learn new skills. Thus, it is a good start to career-making.
Here are Key benefits of becoming an apprentice
- Through apprenticeship program, one can gain relevant working experience. Apprentices can gain necessary skills valued by the employer.
- As per statistics, 90% of apprentices get hired by employers as permanent employees with satisfactory salary. This ensures higher stability at work.
- The apprentice gains industry recognized and nationally portable credential by the end of the apprenticeship period.
- The program is the best way to kick-start one's career especially in the retail industry which has higher growth potential.
- Mentorship is one of the most significant benefits of an apprenticeship program. It helps the apprentice to gain relevant industry insights from an experienced mentor.
How to become an apprentice?
- Apprenticeship opportunities can be obtained through a program sponsor or through an employer offering apprenticeship program
- For more guidance on apprenticeship, contact specialists to Kickstart your career.
- For more information about apprenticeship training programs, visit Apprenticeship Training.
Apprenticeship in the retail industry provides higher scope to Kick-start a career in the retail industry. Employers on the other hand can obtain talent as per the specific needs and requirements of the organization. This is a win-win situation for the employers and the job seekers.