CONTINGENT WORKFORCE
Global capability centres go big on hiring gig employees
India's multinational hubs are increasingly turning to hiring contingent workers to meet immediate talent needs while remaining cautious about permanent recruitment due to a bearish global outlook. There has been a significant rise in demand for gig employees in the last six months, with an expected increase of up to 70,000 gig workers in the next six months. This trend allows companies to create a balanced workforce that is agile and cost-effective, with access to specialized skills.
Myth Debunking 101: ‘Gig work is unstable and insecure’
India's gig economy has evolved with stability in gig work being a key concern. Strategic planning can provide stability despite the lack of traditional benefits. Platforms offer benefits and security, debunking the myth of instability.
ET exclusive: Tata Electronics seals semicon deal with Tesla
The US-based electric vehicle (EV) major is keen to enter India, the world’s fastest-expanding major automotive market. Tesla promoter Elon Musk is reportedly visiting India this month for a meeting with Prime Minister Narendra Modi. Musk is expected to announce potential Indian investments, including a commitment of funds toward EV manufacturing facilities. His firm is the world’s largest automotive company by market value.
Luxury in electric cars means range and (much) more
While the next-generation Roadster with record-setting acceleration, range and performance might offer a glimpse into the future, US-based Tesla, Vietnam’s Vinfast, China’s BYD and many other global luxury car makers may bet on premium feature-led electric models for the Indian market.
Tide seems to be turning for IT as hiring mandates rise 50% in February
Hiring mandates for IT talent stood at 124,000 in February, which is a nearly 50% jump compared to January and 33% higher than in December, data from staffing firm Xpheno shows.
Formal job creation under ESIC up 18.2% in December to 1.88 million
As per the provisional payroll data, released by the ministry of labour and employment on Thursday, new employees added to ESIC in December 2023 stood at 1.88 million as against 1.59 million in November while the new 23,347 new establishments were added to it in the month under consideration.
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Leaders will have to learn new collaborative and communication methods in the world of hybrid work
The debate over remote, office, and hybrid work modes continues to divide the workforce and leadership. Companies are leaning towards hybrid options to keep employees happy, posing a challenge for C-suite executives in navigating multiple situations and models. Recent data reveals that employees value 'time autonomy' as a crucial benefit, deepening their connection with their work.
A Budget solution to India's skilled workforce challenge: Unleash the Gig contingent
Currently, there are 7 million gig workers in India, and this number is expected to rise to 25 million by 2030. To accelerate the growth of the gig workforce, the government needs to invest in technology, provide worker support and benefits, ensure regulatory compliance, address social responsibility, and focus on education and upskilling. These investments will lead to a more robust and inclusive economic model.
Formal job creation under ESIC fell 7.5% to 1.59 mn in Nov: Payroll data
Formal job creation under the Employees’ State Insurance Corporation (ESIC) fell 7.5% in November, with 1.59 million new employees added. This is the lowest new subscriber addition under ESIC in the current fiscal. Around 20,830 new establishments have been registered and brought under the social security umbrella of ESIC in November, ensuring more coverage.
Cigarette demand likely to rise by 7-9 pc this fiscal: Crisil
The return of employees to offices and a stable tax regime are expected to increase cigarette demand by 7-9% this fiscal year, according to a report by Crisil Ratings. Cigarette volumes rebounded by 18% in the last fiscal year after two years of decreased demand due to the pandemic. Going forward, volume growth is expected to reach the long-term average of 5%. Manufacturers' profitability is expected to remain strong despite input cost pressures as they focus on premium cigarettes and increase prices in certain categories.
India’s workforce to see consistent hiring in 2023 despite economic uncertainties: Survey
2022 saw the markets rebound across the region, showing a positive sentiment for future growth. However, establishing the right talent attraction and retention strategies will be critical. The workforce outlook for 2023 showcases a high employee turnover rate despite unprecedented uncertainty brought about by the pandemic.
UK minister backs reduced isolation period, to ease workforce pressures
The Omicron variant is still spreading in Britain and many businesses, schools and hospitals are struggling with staff shortages, fuelling calls for the rules on isolation after a positive test to be reduced further.
E-comm players facing tough tasks of keeping workforce safe as well as timely delivery of goods
Various state governments have announced weekend curfews and lockdowns to rein in the second wave of the pandemic, which is seeing a record number of cases being reported daily. Most states have allowed delivery of essentials via e-commerce.
'We provide operational visibility around people, processes & tech'
Q&A with Rohit Singla, EVP, Sapience Analytics
Uncertain times call for certain CXO protocol
Several organisations are preparing succession contingencies for senior management.
Fall in productivity single biggest concern among many firms, says EY survey
"While the COVID-19 impact can be felt by organisations across sectors, 72 per cent of the organisations stated that its impact will be felt beyond six months," the survey said. It further said, "Around 70 per cent of the organisations believe that the single-biggest concern for continued remote working is fall in productivity."
ITC announces Rs 150 crore COVID-19 contingency fund for vulnerable sections of society
This fund will be used to provide relief to most vulnerable section of the society, provide assistance to rural healthcare and even provide protective gear for medical staff. The company said as corporate citizens we in industry must lend our meaningful support to contain this pandemic.
Stanza Living employees contribute Rs 10 lakh to company's employee contingency fund for Covid-19
The company has also announced a number of other measures related to coronavirus. Annual sick leave quota has been relaxed for employees till April, and will be extended based on situation assessment in the next two weeks.
An employee of HCL Tech in Noida confirms positive for Covid-19; company confirms
"Unfortunately, one employee from our Noida office has been tested positive for the Novel Coronavirus while he was in self-isolation after his return from international travel and hence our office is following all government and heath advisory protocols," an HCL Technologies spokesperson said
ITC developing business continuity plan amidst coronavirus outbreak
ITC Ltd is developing a business continuity plan to address any potential contingencies and allowing employees to work from home, while it has barred the entry of visitors to its offices in wake of the Coronavirus outbreak in India.
India urges nations to join hands to leverage its strong workforce
India, with a strong 48-member contingent, is among the 63 countries participating in the world's biggest international vocational skill competition -- WorldSkills Kazan 2019, which is underway in the capital of Tatarstan.
New Delhi should convince US to open its doors to our skilled workforce in a win-win arrangement
The H1B guest worker programme was a happy accident that has worked to the benefit of the US and India.
Contingent workforce continues to thrive in Asia Pacific: Report
Companies in the Asia Pacific region including India are integrating freelancers, independent contractors and consultants at a rapid rate into their existing pool of employees, says a report.
The future workforce: Companies will look for people married to their professions, not jobs
New technologies will fundamentally change the way we operate and interact today, says HARMAN India's HR head Vikrant Gupta.
Lack of available talent key impediment to hiring, says report
The study determines the state of workforce agility in businesses or their ability to swiftly scale up workforce in times of uncertainty and disruption.
India among top 5 in contingent workforce engagement globally
According to ManpowerGroup Solutions' fourth Contingent Workforce Index (CWI), which tracks the relative ease of sourcing, hiring and retaining contingent workforce in 75 countries, India has been ranked in the top five nations.
Chennai rains leave Tech Inc marooned; firms like IBM, Cognizant, Infosys enforce contingency plans, relocate key staff
More unusually, especially in an otherwise parched Chennai, companies had to set up makeshift camps in their offices with mattresses and temporary shower stalls.
India among top 6 markets for contingent workforce globally
Hong Kong is the highest ranked for contingent workforce engagement globally, followed closely by the United States and China.
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