homebusiness Newscompanies NewsLarsen & Toubro needs 30,000 skilled workers but is struggling to hire, here’s why
Larsen & Toubro needs 30,000 skilled workers but is struggling to hire, here’s why
Indian labourers lack skill sets, and therefore there is a need to upskill them, L&T CEO said, adding that L&T upskills labourers using modularity, automation, which however adds to the process of hiring struggle.
Indian multinational conglomerate Larsen & Toubro needs about 30,000 skilled labourers but is struggling to hire, the firm’s CEO and MD SN Subrahmanyan has said. "Indian labourers lack skill sets, and, therefore, there is a need to upskill them," he told CNBC-TV18 in an interaction, adding that L&T upskills labourers using modularity, and automation, which adds to the process of hiring struggle.
Subrahmanyan added that there is a more than $50 billion backlog in the company's balance sheet due to labour shortage. "As the backlog is from the EPC business, that needs trained labour," he said, adding that the firm needs labour for carpentry, masonry and heavy earth work.
The development reflects the increased emphasis on upskilling and reskilling across industries. In fact, a LinkedIn research last week revealed that due to the shift towards skills-based hiring, 82 percent of Indian professionals feel that companies are now more comfortable hiring professionals who do not have relevant work experience but have the right skills.
Further, 84 percent of Indian professionals believe that in future, employers will value professionals with diverse skill sets and experience over those who are specialised in a certain job function.
Subrahmanyan’s remarks came against the backdrop of Larsen & Toubro securing an order for Perdaman’s urea plant in Australia.
L&T has announced that the Saipem & Clough JV (SCJV), Australia has awarded a contract for the fabrication and supply of process and pipe rack modules for a 2.3 MMTPA urea plant for Perdaman Chemicals and Fertilisers Pty to L&T Energy Hydrocarbon.
The plant will be constructed on the Burrup Peninsula, approximately 20 km north of Karratha, Western Australia. On completion, this state-of-the-art facility will be the largest urea plant in Australia and one of the largest in the world.
Perdaman Chairperson, Vikas Rambal said, “The state-of-the-art facility will help to ensure that Australia has a secure and reliable source of high-quality urea and therefore food security... Larsen and Toubro have gone through SCJV’s meticulous tender process and have been awarded a significant package of modular fabrication based on their technical expertise, quality, Health, Safety and Environment (HSE) and operational excellence.”
First Published: Aug 21, 2023 2:33 PM IST
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