YOUNG WORKFORCE
Not just employers with benefits! India Inc looks to be more to woo talent
Corporate India is offering new-age benefits, realizing that attracting and retaining talent requires more than just high salaries. Cos offer new-age perks like cash for self-development, health insurance for siblings and pet care to woo talent
Meet India's Insolvency professionals: Male, chartered accountants and not so young
The typical Indian insolvency professional (IP) is a middle-aged male chartered accountant. Only 10% of the 4,352 registered IPs are women, and just 7% are under 40 years old, according to data from the Insolvency and Bankruptcy Board of India (IBBI). Most IPs are chartered accountants (55%), with the rest being company secretaries (17%), lawyers (6%), and cost accountants (5%). About 90% are aged between 40 and 70.
Retail, ecommerce create job openings for freshers and experienced professionals
A recent report by GI Group Holding India reveals increasing job opportunities in retail and e-commerce, with retail seeking fresh hires and e-commerce targeting experienced professionals. Applications for retail jobs rose by 8% in 2023, driven by young talent aged 18-30. The logistics sector, crucial for delivery, is also thriving, especially in tier-1 cities.
MSMEs should build support fund for women to encourage their participation: Lohit Bhatia, Indian Staffing Federation
MSMEs should work towards increasing female workforce participation by making structural changes to their ecosystem, says Lohit Bhatia, President, Indian Staffing Federation (ISF).
Indian consumer market sees significant drop in average buyer age across cars, smartphones, and TVs
Over the past 5-6 years, the average age of Indian consumers purchasing cars, premium smartphones, and large televisions has decreased significantly, indicating a shift towards younger demographics. Major car manufacturers like Maruti Suzuki, Hyundai Motor, and Mercedes-Benz note a decline in the average buying age from the 40s to the mid-30s, with over 70% of electric car buyers being in their 20s and 30s. Similarly, the average age for purchasing Apple iPhones and large-screen televisions has dropped from the 30s to the late 20s to early 30s.
Entry-level jobs in telecom industry thrive despite broader workforce slowdown: TeamLease
Despite a general slowdown in headcount expansion in the Indian telecom industry, demand for entry-level customer-facing and technology roles remained strong. TeamLease Services data shows a growth in associate workforce by 51.05% in FY22, with a 31.41% expansion in FY24. Telecom companies focused on hiring field sales executives, customer relationship executives, and technology staff to support network operations.
- Go To Page 1
Razorpay revamps health insurance policy, provides coverage for vital medical treatments
Razorpay unveils new employee health insurance policy covering vital treatments like HIV/AIDS and conditions such as polycystic ovary syndrome. Employees can customize plans to include siblings, LGBTQIA+ partners, and enhanced maternity benefits. The move aligns with the trend of personalized, comprehensive healthcare offerings in India.
India's young harbour big plans
India's youth population is set to reach 420 million in 2024, comprising 29% of the total population, with 20 million being first-time voters. These young individuals hold significant power to influence India's future. The People Research on India's Consumer Economy (PRICE) survey identifies six national priorities for the next five years, including education, healthcare, infrastructure, job creation, and inclusive economic growth.
Smartphone companies dial up after-sales service network
"Established industry players are increasingly embracing apprenticeship initiatives aimed at cultivating a skilled workforce. These programmes offer courses such as service engineer IT hardware, repair technician, wireman control panel electronics, and electronics mechanic, targeting students who have completed 8th or 10th grade for entry into the field," he added.
How Software and IT Jobs are disappearing in favour of AI and what is going to fill that vacuum
AI and technology advancements threaten 400 million jobs globally, impacting India's IT sector. Addressing rising unemployment requires skill evolution and innovative educational approaches to prepare for the future workforce demands.
Companies shopping for workers floored by women
"There is a preference to hire women on assembly lines," said Lohit Bhatia, president of workforce management at leading staffing company Quess Corp. "Many automobile, EV and component makers as well as electronics and mobile manufacturers want to specifically hire women in roles that require precision work." Maruti Suzuki, MG Motor and Lumax among others are hiring an increasing number of female apprentices on the shop floor.
Women in tech workforce in GCCs to rise to 35% by 2027 from 25% now: Report
The rise of women in tech to 35% by 2027 in global capability centers, highlighting in-demand roles and challenges faced. Efforts are needed to bridge the gender gap and provide equal opportunities for women in tech.
There is a critical need for upskilling initiatives in India, says Pearson executive
In an interview with ET’s Sreeradha Basu, Jane Baker, vice-president, Workforce Skills at learning company Pearson said India stands out as a leader in the global upskilling market due to its sheer volume of learners seeking to enhance their skills and through the active support of government initiatives like Skill India.
Educated and unemployed: India's angry young voters
The World Bank warned this month that India -- like other South Asian nations -- was "not creating enough jobs to keep pace with its rapidly increasing working-age population". South Asia is failing "to fully capitalise on its demographic dividend", said Franziska Ohnsorge, the bank's regional chief economist, calling it a "missed opportunity".
Gender diversity, inclusion not just ideal, but a strategic necessity for businesses: Industry
The Indian IT industry has made progress in gender diversity, but there is still underrepresentation of women in top positions and boardrooms. Companies should offer flexible work options, mentorship programs, and robust support structures to support women's progress. Encouraging women's participation in STEM fields and bridging the gender gap requires institutional-level initiatives.
Workforce attrition in restaurant sector at three-year high amid expansion
Investment and funding have picked up in recent months, with new local entrants and global chains driven by India’s young population, among other factors, adding to new work opportunities and hence, faster churn, as workers are switching jobs even for modest package increases.
Snap to invest more to continue conversation with young India: Snap India MD Pulkit Trivedi
In a letter to its shareholders, Snap had said it would shift more of its focus during the year to expanding Snapchat’s user base and investing in markets where it makes the most money, including North America and Europe. However, as per Trivedi, the Evan Spiegel-led company remains bullish on the India market.
Snap to lay off 10% of its workforce as spate of job cuts continue
The Snapchat parent expects pre-tax charges in the range of $55 million to $75 million, primarily consisting of severance and related costs, and other charges, of which $45 million to $55 million are expected to be future cash expenditures.
What University 5.0 means for people planning to enter the workforce
The New Education Policy (NEP) 2020, also known as University 5.0, is reshaping higher education by embracing technology and addressing global requirements. It goes beyond traditional learning institutions and focuses on holistic education, incorporating cutting-edge technologies and reevaluating pedagogical methods.
India’s employable youth up from 33.9% in 2014 to 51.3% in 2024: DEA
In its review of the economy for January 2024, the department of economic affairs under the ministry of finance, said there is ample scope to mainstream skilling into education curriculum and upskilling a large chunk of the existing workforce into future-relevant skills on the back of a transformative journey in skill development in India in the last decade.
Foxconn CEO Young Liu honoured with Padma Bhushan
Foxconn is the world's largest electronics manufacturer and a leading global science and technology solutions provider. As per Foxconn's official website, Liu is a recognised entrepreneur and innovator with over four decades of industry experience.
NITI Aayog invites bids for research study on sectors to make India a global manufacturing hub
The government is of the view that India, with its favourable demographics, skilled workforce, and increasing economic growth, can attract significant investments and become a preferred destination for manufacturing. “The study will focus on analyzing various factors, including future trends in manufacturing, industrial capabilities, infrastructure, policy framework, and market potential, to determine the sectors that offer the most significant opportunities for India's manufacturing growth,” the Aayog said.
Celebrating leadership: Recognising managerial excellence
The eighth edition of the Great Manager Awards 2023 honoured and celebrated outstanding individuals and companies for their exceptional contributions to effective management
In age of tech disruption, women make beeline for upskilling
Indian women are increasingly engaging in upskilling initiatives, driven by various factors such as re-entering the workforce, securing better jobs, and staying relevant amid technological disruptions. Edtech platforms like Imarticus Learning, Hero Vired, and upGrad report a surge in demand from women learners, not only in major cities but also in Tier 2/3 towns.
In-depth | India’s electronic ambitions ride on young female employees
Women are increasingly becoming the talent pool of choice for electronics companies. This augurs well for companies which will have to double down on their hiring considering the electronics market in India alone is being valued at $155 billion, with domestic production accounting for 65%.
Unemployment challenge resurfaces amid parliament attack. But will it affect voters’ choice?
Economists say unemployment figures are inadequate to capture the distress in India’s labour market, which includes issues like underemployment, low participation of women in the labour force and youth unemployment. For years, India’s demographic dividend was held up as one of the factors that would propel it on its journey of development.
EY implements significant partner layoffs in US amid streamlining efforts & reduced demand for services
Ernst & Young (EY) is undergoing significant partner layoffs in various U.S. business segments as it strives to streamline operations following the abandonment of its division plan. The cuts, reported by the Wall Street Journal, primarily affect the advisory sector, impacting over 10% of consulting partners and around 4% in strategy and transactions.
Short of skilled hands, companies turn to apprentices
The findings across 700 companies show about 47% of firms intend to have 10% of their total workforce as apprentices in the next 6 months, while a substantial 31% are currently maintaining an apprenticeship share of 5-10% within their organisation.
Tech sector, be more gender-savvy
A new Aon PLC report shows that the unadjusted gender pay gap in the tech sector in 2023 is 28-30%, while in junior management, it is 18-20%. Another study by Xpheno for ET shows that the percentage of female engineers in the higher salary bracket is significantly lower than that of male engineers in the same experience level and identical job roles. So much for tech being savvy.
Load More
