Bengaluru, 24th February, 2025: The NBFC sector is driving significant change in workforce roles. The Teamleasereport‘ Driving Financial Inclusion: The Role of Temporary Workforce in NBFCs’ released today highlights while technology integration is reshaping customer-facing roles in sales, support, and collections, the human element remains vital. Temporary workers play key roles, including collection officers, sales officers, and relationship managers. These are emerging as attractive career options.
The report reveals that Maharashtra and Gujarat dominate the contractual workforce, contributing 19.9% and 11.6%, respectively
Female representation stands at 21.9% in the NBFC sector, highlighting a notable female presence in the sector.
Delhi and Karnataka stand out in compensation trends, offering the highest average salaries of Rs. 23,756 and Rs. 23,607, respectively
The sector offers extensive job opportunities in the role of collection officers, sales officers, and relationship managers
Attrition remains a persistent challenge, driven by low entry-level salaries, high workloads, and insufficient onboarding support.
Highlighting regional trends, the report reveals that Maharashtra and Gujarat dominate the contractual workforce, contributing 19.9% and 11.6%, respectively. Together with other leading states like Tamil Nadu, Karnataka, and Uttar Pradesh, the top ten states account for nearly 75% of the temporary workforce distribution. However, this concentration calls for balanced workforce growth across regions to ensure equitable socio-economic development. Delhi and Karnataka stand out in compensation trends, offering the highest average salaries of Rs. 23,756 and Rs. 23,607, respectively, for roles such as telesales agents, rural credit officers, and administrative staff.
Another notable highlight is gender diversity within the NBFC workforce. Female representation stands at 21.9%, reflecting a significant female presence, with the highest participation observed in Mizoram (45.5%), Sikkim (35.7%), and Meghalaya (29.4%). North-Eastern states have emerged as role models in promoting women’s inclusion, supported by cultural acceptance and robust government initiatives. Despite this progress, the report highlights the need for more flexible work options and safety measures to further boost women’s participation in frontline and managerial roles across the country.
The report also examines tenure-based workforce trends, revealing that 36.5% of temporary workers have less than two years of experience, reflecting an alarming attrition rate. Employees with over four years of tenure earn an average CTC of Rs. 21,981, compared to Rs. 18,528 for those with 1-2 years of experience. Attrition remains a persistent challenge, driven by low entry-level salaries, high workloads, and insufficient onboarding support.
Balasubramanian A, Senior VP and Business Head, TeamLease Services, said, “The NBFC sector is not just a financial catalyst but also a critical enabler of employment and inclusion. To achieve balanced workforce distribution, promoting investments in Tier 2 and Tier 3 cities is vital. Structured skill development initiatives tailored to emerging technologies like AI and digital payments can bridge the skill gap while empowering the workforce. At the same time, expanding female participation is equally important for targeted programs such as scholarships, mentorship, and flexible work arrangements. By focusing on investment in underrepresented states, education and employability, the sector can address workforce disparities, enhance productivity, and foster economic and social empowerment across India.”’
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