When it comes to building the economy of any third-world country, physical labor plays a big part. Thus, India plays a huge role in supplying labor on the global stage, but sometimes it is followed up by the skill set of the laborers.
Larsen & Toubro recently expressed that they have a vacancy of a whopping 30,000 laborers, but there is a problem. The CEO of the company, SN Subrahmanyan, enlightened that laborers in India lack certain skill sets and they need to be upskilled.
Later, he added that L&T has adopted a more automated method, and for this, they need to hire laborers who are acquainted with modern systems. And this is causing problems for the company as they have more than a $50 billion backlog in the company’s balance sheet due to a labor shortage.
Even the modern trend of hiring shows that skillset plays a more important role than the work experience that a person has. And in that field, diversity will play a huge part. A recent survey also says that 84% of employers will focus on a diverse skill set over a person who has mastered just one area.
Amidst this, L&T is now on the verge of constructing a plant for the fabrication and supply of process and pipe rack modules in Australia. The company has had an astronomical rise in recent times, and their recent ventures can vouch for the fact that the best is yet to come.
