In the fast-paced world of construction, having a skilled and reliable workforce is crucial to the success of any project. However, Larsen & Toubro (L&T), one of India’s largest construction companies, is currently facing a severe shortage of skilled labor that is impacting their projects. With a whopping 25,000 laborers and 20,000 engineers needed, the company is struggling to keep up with demand.
Several factors are contributing to this crisis, including adverse weather conditions, upcoming elections, and skilled workers choosing to move abroad for better opportunities. Additionally, L&T is facing a high attrition rate of 10-12%, which is posing challenges in recruitment and retention of workers.
To address this issue, L&T has implemented various initiatives such as providing transport facilities, healthcare provisions, and setting up skill development centers to train new workers. Despite these efforts, the company continues to face manpower shortages on and off. In fact, just last year, SNS had highlighted L&T’s challenges in recruiting over 30,000 laborers.
This shortage of skilled labor is not unique to L&T, as the broader construction industry in India is also grappling with similar challenges. It is imperative for companies in this sector to come up with innovative solutions to attract and retain talent in order to keep projects running smoothly and efficiently.
As L&T navigates through this labor shortage, it is clear that the company is committed to finding sustainable solutions to address this pressing issue. By investing in training programs, improving working conditions, and offering competitive salaries, L&T is taking proactive steps to ensure that their projects are completed on time and within budget.
