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India’s renewable energy sector faces leadership talent crisis: WalkWater
Industry News- Aug 30,24
The study surveyed 65 organisations and tracked the movement of 204 CXOs over the past three years.
WalkWater Talent Advisors, one of India’s leading executive search firms, today unveiled a study highlighting a significant leadership talent crisis within India's rapidly growing renewable energy sector. India’s ambitious goal of increasing non-fossil energy production capacity to 500 GW by 2030, as part of the Panchamrit plan, and achieving net-zero emissions by 2070, faces a significant challenge: the current gap between the demand for and supply of skilled professionals.
The study surveyed 65 organisations and tracked the movement of 204 CXOs over the past three years. The findings reveal a stark shortage of leadership talent, further underscored by the sector's rapid expansion and increasing complexities of renewable energy projects.
Key findings:
• The renewable energy industry has onboarded high number of CXOs since 2021. 56% of leadership hires have been COOs, followed by CFOs at 47% and CBDOs at 45%
• A strong preference for talent with prior renewable energy experience is limiting the inflow of fresh ideas and perspectives
• It has been observed that CEOs (7%), COOs (12%) and CBDOs (14%) have seen very less movement from allied industries, highlighting the under-utilised potential for talent acquisition from related industries
• However, CFO roles exhibited a higher rate of cross-sector movement at 42%.
Kunal Girap, Co-Founder and Director, WalkWater Talent Advisors, stated, "India's renewable energy sector is experiencing an unprecedented boom, with organisations experiencing a surge in orders that are fueling rapid expansion. However, the talent pool, particularly in leadership, has not kept pace with this growth. This mismatch threatens the sector’s capacity to capitalise on the market’s potential. Our study highlights the critical leadership shortage and its implications for the sector's future. To sustain growth and achieve Panchamrit goals, it is essential for the industry to adopt a more inclusive approach to talent acquisition, considering candidates from cross - sector and investing in targeted leadership development programs”.
|
Industry |
Renewable Industry Role |
Potential Industry |
Required Skills |
|
Solar, Wind |
Project Management |
Construction, Real Estate |
Project Planning & Execution, Vendor Management, Budget &
Resource Planning, Risk Assessment |
|
Solar, Wind, Green Hydrogen |
Business Development |
Petroleum & Natural Gas, Power, Chemicals |
Sales & Negotiations, Bid Management, Strategic Partnerships |
|
Solar, Wind, Green Hydrogen |
Regulatory |
Automotive, Power |
Environmental Regulations, Policy Advocacy, Compliance with Industry
Standards |
|
Solar, Wind |
Land Acquisition |
Real Estate |
Real Estate Transactions, Negotiation Skills, Legal Knowledge |
|
Solar, Wind, Green Hydrogen |
Design Engineering |
Oil & Gas, Aerospace |
Technical Expertise (Mech, Elect, Civil), System design &
Implementation, Design Software |
|
Green Hydrogen |
Manufacturing |
Chemicals, Fertilisers |
Advance Manufacturing Technology, Supply Chain & Logistics |
Vidya Venkataramani, Senior Consultant, WalkWater Talent Advisors, added, "Our study underscores a significant talent shortage in specialised roles such as project management, business development, and regulatory affairs within India’s renewable energy sector. This shortage is intensified by the sector's rapid growth and increasing project complexities. To address this challenge, organisations must expand their talent acquisition strategies to include professionals from allied industries and invest in targeted skill-building and leadership initiatives. Such measures will not only address the current talent gap but also build a new cadre of leaders poised to drive sustainable innovation and growth in this critical sector."
Vidya Venkataramani
WalkWater Talent Advisors
Kunal Girap
Talent acquisition
renewable energy
jobs
employment
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