Radhika is a seasoned Human Resources professional with over 20 years of experience in People and Culture spanning across R&D, Consulting, Technology, BPO, Telecom, Retail, and Banking industries. With extensive exposure to multi-national businesses, she has adeptly managed stakeholders from Europe, the Americas, the Middle East, and India. As Head of HR, Radhika has led business units and functions, driving high-performance and global People Strategy.

The Automotive Industry–An Industrial Driver for India's Economic Growth

India's automotive industry is a major sector that propels the nation's economic growth and transformation. India has emerged as one of the world’s largest auto mobile markets by sales, making the prospects of the sector robust. With this rising middle class and a huge youth population, the sector is expected to witness a strong demand.

Government initiatives in "Make in India" and a push towards electric vehicles with the idea of reducing emissions and increasing sustainability shall be a further impetus to growth. By 2030, India is also expected to emerge as the leader for shared mobility, providing an opportunity for electric and autonomous vehicles and solidifying the country's commitment towards sustainability.

The automotive industry has been transforming, driven by technological changes, shifting consumer preferences and challenges related to sustainability & the environment. As this  sector evolves, the needs of the sector change, thus it will require a future-ready workforce to ensure that the automotive industry remains competitive, innovative, and strong.

Talent Landscape of the Indian Automotive sector – The changing pace of change

Technological transitions, shifting consumer preferences, and business model innovations are accelerating India's automotive sector, simultaneously transforming talent requirements at unprecedented speed. This paradigm shift is not only redefining the industry's landscape but also revolutionizing its talent requirements at an unprecedented pace.To address this, organizations are working tirelessly to foster a future-ready talent pipeline, driving innovation and growth of the industry.

The manufacturing technology ecosystem is also becoming increasingly complex with reliance on software-based business growth, and the industry is therefore witnessing an emergence of new tech-enabled roles. Technological innovations have resulted in the emergence of new roles and skills that are integral to an organization's service portfolio.

The need to build a Future ready Workforce

Building a future-ready workforce is not only about preparing for technological changes and advancements but also about developing a resilient, adaptable, and innovative workforce that can drive the industry forward. Investing in skill development, fostering a culture of innovation, and embracing diversity should help the industry achieve its goals in the long term.

As organizations pursue various growth strategies to achieve their business objectives and growth targets, talent development becomes crucial in this aspect. This strategic approach will be in the bed-rock of businesses developing a sound talent pool aligned with the transformational journey to drive growing business needs and sustain long-term success.

For instance, theThree Horizons of Growth Frame work fosters a business informulating its long-term growth strategy. This model lays down business initiatives, breaking them into three connected horizons which helps in planning sustainable growth. Since each horizon addresses a different growth stage and has distinct characteristics, objectives, and challenges, it is essential that the organisations understand and plan the resources also accordingly. It is also significant to ponder over each of the horizons: Core Business, Emerging Opportunities, and Future Growth Engines and define your horizons and allocate resources in terms of financial, human and time to the most important initiatives of each horizon.Aproper balance of resources is almost sure to be necessary for long- term success in an organization because it helps maintain focus on the immediate short- term growth and long-term innovation.

Opportunities & Challenges

While the industry works on business prerogatives and resource allocation, there are four drivers for the Indian automotive sector posing an imminent talent transformation challenge.

• Emerging skills gap: With new technologies, there is more need for skills in the areas of data analytics, AI, and cybersecurity to name a few
• Challenge of knowledge transfer - The age profile of the workforce brings an associated risk of loss of valuable experience and expertise, there by a nimperative for effective knowledge transfer
• Diversity and innovation: The attraction of diversity in all aspects is an important prerequisite for diverse thoughts triggering more innovation and competitiveness in the industry
• Continuous learning: Upskilling and reskilling current employees are essential as technological changes continue to happen swiftly to keep the workplace relevant and productive

Strategies to build a Future Ready Workforce

What is critical to the industry at this juncture is to concentrate on strategies that build a future-ready workforce, given the presently accelerating pace of change within the automotive industry and emerging skill requirements that a redynamic in nature.A future- ready workforce will be crucial for the automotive industry to remain competitive in both innovation and regulatory compliance while contributing to economic growth and sustainable development.

The organisations also realise the increasing need for development of leadership and talent management needs to integrate with strategies that build for a future-ready workforce.This will be a critical feature for the automotive industry interms of having the right set of talents and leaders to succeed in this evolving environment - skilled, adaptable, and innovative. A focus on certain critical aspects will enable the organisations to effectively work on creating a Future-Ready Workforce.

• Skilling to meet the shifting Automotive Landscape that now focuses on  Emerging Technologies: Electric and connected solutions forming the future of transportation, and the automotive industry call for new technical competencies - specifically in the fields of battery technology, software development, and advanced manufacturing. AI and Industry 4.0 technologies, data analytics, and robotics skills become much more critical. Strategic upskilling and reskilling programs,together with better training in softer aspects of leadership development will enable a workforce that performs well in a global context but is attuned to local nuances, ultimately leading towards a globally aligned yet locally relevant talent pool
• Automation and Workforce Transformation: Investment in workforce transformation,coupled with embracing automation, will result in building a future- ready workforce that is skilled, adaptable, and innovative for the automotive industry.This approach enhances productivity and efficiency while ensuring long- term sustainability and competitiveness within a continuously evolving market.
   
• Attract Diverse Talent and fostering Equitable Growth: An inclusive culture through collaborations and partnerships will drive the growth of attracting diverse talent. As the sector is poised to drive global growth, industry-academia partnerships will be crucial for nurturing talent from the outset, enhancing graduate employability and deployability from day one. Stronger collaborations through projects and internships will ensure young talents having hands-on experience and exposing them to handle complex industry challenges.
   
• Continuous learning to bridge the talent gap: While the talents are geared well to help deal with the intense nature of the job, organisations must ensure to foster an environment that encourages continuous learning. Enabling a culture of continuous learning empowers employees to continue remaining adaptable, resilient, and well-equipped to face the intricacies of a fast-changing industry,thus driving business agility and future-readiness.
• Mentorship and Knowledge Transfer: By integrating mentorship and knowledge transfer into their talent management strategies, automotive companies can ensure that their workforce is well-equipped to handle current and future challenges. This approach not only enhances individual employee growth but also strengthens the organization’s overall capability and resilience.