Page 6 - Employment In India

MSMEs: The nuances beyond financial parameters

With the new government, the hope for a new gambit for MSMEs is a pressing priority at the moment, and any move is welcome in the wake of World MSME Day to be celebrated on June 27

ESIC adds 1.6 mn workers, including 0.3 mn women, in April: Payroll data

Employees' State Insurance Corporation (ESIC) added 16.47 lakh new members in April as per payroll data released on Wednesday. "Through the data, it is noticeable that more jobs have been generated for the youth of the nation as out of the total 16.47 lakh employees added during the month, 7.84 lakh employees amounting to around 47.60 per cent of the total registrations belong to the age group of up to 25 years," a labour ministry statement said. According to the statement the provisional payroll data of ESIC reveals that 16.47 lakh new employees have been added in April 2024. Also, it stated that the gender-wise analysis of the payroll data indicates that net enrolment of female members was 3.38 lakh in April. Besides, 53 transgender employees also got registered under the ESI Scheme in the April, attesting to ESIC's commitment to deliver its benefits to every section of society. Around 18,490 new establishments have been brought under the social security ambit of the ESI Scheme

Employment in informal sector below pre-Covid level, shows NSO data

According to the factsheet, the number of unincorporated enterprises rose by 2 million between July 2015-June 2016 and October 2022-September 2023 to 65.04 million

India's neglected development transformation

Inclusive growth appears irrelevant to current electoral outcomes

Contractual labour on rise in 9 major non-farm sectors, shows govt data

The results for the fifth and sixth rounds of the QES - pertaining to Q1 and Q2 of FY23 were released after a gap of nearly 20 months

New non-farm jobs in Q2FY23: Higher than Q1 but below Omicron-hit Q4FY22

But in first half of the FY, new hirings halved compared to Omicron-hit H2 of FY22

Employers taking measures to promote diversity, gender parity, says report

A significant percentage of employers in India are taking active measures to promote diversity and gender parity through progressive policies, upskilling, and flexibility and have realigned their hiring strategies by mandating women hiring at every level across sectors, says a report. According to New research conducted by ManpowerGroup India, 54 per cent of employers in India expressed optimism on their company's Diversity, Equity, Inclusion and Belonging (DEIB) initiatives being on track in increasing women participation at different levels, way above the global average of 46 per cent. The survey that examined 3,150 Indian employers, noted that internal leadership development programmes are most effective to help retain and secure diversified talent. Sector-wise, the Information Technology (IT) sector leads the way in strengthening its diversity ratio, closely followed by the healthcare and life sciences sector and financials and real estate sector, whereas the consumer goods and

Hiring for new roles to take 27% effort of HR professionals in FY25: Report

Recruitment activities are expected to be focused on filing new positions in 2024-25 as hiring for fresh openings will make up 27 per cent of talent hunting efforts of employers across sectors, a report said on Thursday. Hiring for replacements for existing positions will take at least 23 per cent of recruitment efforts in the current fiscal, said staffing solutions and HR services provider Genius Consultants' Hiring, Compensation, and Attrition Management report. "The hiring outlook for 2024-25 across the industry indicates a strong focus on new position hiring, which will make up 27 per cent of recruitment efforts. This strategic direction reflects a commitment to meeting the evolving demands of the market and the infusion of fresh talent," Genius Consultants CMD R P Yadav told PTI. While replacement hiring will still be necessary, comprising 23 per cent of recruitment activities, the primary goal is to drive growth and innovation by creating new roles that align with the future .

Govt should lower tax on recruitment agencies to help boost employment: ISF

'This discourages many employers from hiring contract workers through recruitment agencies as they see the steep tax as an additional burden.'

Zero electricity bill, tax tweaks: Govt's 100-day agenda, budget wish list

From a long-term perspective, however, the focus, Mirae Asset said, would be on infrastructure development, farm laws, skill development, and creating employment

Young voters set to shape India's political future in 2024 Lok Sabha Elections

The rising power of young voters in the 2024 Lok Sabha elections: How new demographics are shaping India's political future

Share of women in urban salaried jobs at 6-year low in Q4FY24: PLFS

The share of women in wage work was the highest in Q1 of FY21 at 61.2 per cent

IIT-Madras places over 80% of BTech/Dual Degree students, 75% from Masters

In the last two years, 90 per cent of IIT Madras Bachelor of Technology and Dual-Degree graduates found career opportunities by the time of their convocation

Nearly 51 mn person years of employment created annually in last 10 years

A person-year is a unit of measurement for the amount of work done by an individual throughout the entire year, expressed in hours

SBI to hire over 15,000 in FY25 to boost operations, expand network

The country's largest lender is also planning to open 300 new branches in the current financial year, as against 139 opened in Financial Year 24

Bengal, UP, Rajasthan availed maximum work under MGNREGA in NDA regime

These states had the highest percentage of households who availed work under the scheme in the last 10 years in proportion to the total households availing employment under the scheme

LS polls: Job promises galore as Odisha scores low on employment index

Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India

Air India Express withdraws termination of 25 cabin crew members

The airline, which cancelled 85 flights on Thursday, is receiving help from its parent company, Air India, which is operating flights on 20 of its routes

Socially construct the right AI

…and achieve societal benefit, not harm

MSMEs contribute 62% to employment in India: McKinsey Global Institute

MSMEs in India are only 26 per cent as productive as large companies, in other emerging economies it is 29 per cent