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<ul><li>B Com, MBA and B Pharm graduates are found to be most employable, according to the Wheebox <keyword id="6224961" type="General" weightage="20" keywordseo="india-skills-report" source="Orion">India Skills Report</keyword> 2023 report. </li><li>In 2023, most of the hiring is likely to happen in automotive, engineering and internet businesses. </li><li>Percentage of the employable women workforce increased to 52.8%, compared to 47.2% for men.</li></ul>The employability of Indians has gone up in the last one year according to The Wheebox India Skills Report. As per its evaluation, half of the candidates – at 50.3% were found to be employable as compared to the 46.2% last year. This report is a result of the evaluation of 3.75 lakh candidates or freshers who took the Wheebox National Employability Test (WNET) across India and the participation of 150 corporations from over 15 different industries in the Early Career Edition of the India Hiring Intent Survey. Piyush Nangru, co-founder and COO, Sunstone said the gap between skills that graduates have and industry-required skills continues to persist. “There is an urgent need across the country for multiple stakeholders to remedy the industry and higher education gap,” he said. Amongst the domains, B Com, MBA and B Pharm graduates are found to be most employable. Whereas, Polytechnic and MCA graduates were the least employable. “Improving employability through higher education remains a challenge and can be attributed to many factors.The post-Covid era further requires realignment of the higher education curriculum, up-skilling practices, and training techniques,” Nangru said. Among cities, Mumbai has the highest overall employment percentage of candidates, followed by Lucknow and Mangalore. The Wheebox India Skills Report 2023 was compiled by trade bodies, companies, educational institutions and more like – CII, AICTE, AIU, Sunstone, Pearson, AWS, Economic Times and Taggd. <cmsannotation type="cmsannotation" annotationid="Women more employable than men" comment="subhead" text="Women more employable than men">Women more employable than men</cmsannotation> It is interesting to note that the percentage of the employable women workforce stands at 52.8%, compared to 47.2% for men. “The consistent rise in women’s employability over the past ten years is a positive sign of radical changes in India’s developing labour market. Increased participation of women at work will give industries an edge with key roles already being occupied by women as we go into 2023,” the report said. Currently, the share of women in India’s workforce at 33% — is much less than that of males at 67%. Whereas, in countries like South America, Asia, and Africa, women account for 36% of the workforce. Rajasthan has the most percentage of employable females who are prepared for the workforce (53.5%) while Uttar Pradesh stands second with 46.5%. “If India aspires to become a global leader in providing skilled talent, then it is recommended that more policy-level changes are needed to increase workforce participation both in the private sector as well as the government sector,” the report added. <cmsannotation type="cmsannotation" annotationid="Sectors that will hire the most" comment="subhead" text="Sectors that will hire the most">Sectors that will hire the most</cmsannotation> This year, the demand for skilled labour was driven by the BFSI, pharmaceutical, e-commerce, and IT sectors. The report says that the hiring of freshers in these industries is projected to increase by 20% in 2023 compared to 2022. As many as 36.08% of companies surveyed said that they intend to hire. The report predicts that, in 2023, sectors like automotive, engineering and <keyword id="35619" type="General" weightage="20" keywordseo="internet-business" source="Orion">internet business</keyword> will see the most hiring. Uttar Pradesh, Maharashtra and Delhi are likely to have the most employable talent in 2023, as per its forecast. According to the <a href="https://unemploymentinindia.cmie.com/">Centre for Monitoring Indian Economy latest data</a>, the unemployment rate of India rose to 8% in November this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-snaps-two-day-losing-streak-jumps-403-points/articleshow/96200366.cms">Sensex snaps two-day losing streak, jumps 403 points</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/inflows-into-equity-mutual-funds-plunge-sharply-in-november-mfs-trim-holdings-in-icici-bank-hcl-tech-kotak-mahindra-bank/articleshow/96200043.cms">Inflows into equity mutual funds plunge sharply in November; MFs trim holdings in ICICI Bank, HCL Tech, Kotak Mahindra Bank</a>

There are more employable women than men in India: Wheebox India Skills Report

<ul><li><keyword id="132652" type="General" weightage="100" keywordseo="cleartrip" source="Orion">Cleartrip</keyword> to increase its workforce to 700 employees, a three-fold increase from October last year.</li><li>Earlier this quarter, the <keyword id="7254678" type="General" weightage="20" keywordseo="travel-aggregator" source="Orion">travel aggregator</keyword> had increased its workforce by 60%.</li><li>The hiring will be done in technology and product teams and across various destinations in India.</li></ul>Cleartrip, a Bengaluru-based travel aggregator website, is looking forward to ramping up its workforce by 400 employees by December 2022. Hiring of 400 employees will take the workforce to a total of 700 employees, a three-fold increase from 240 employees in October 2021. The hiring will be done in technology and product teams and across various destinations in India — Goa, Karnataka, Kerala, Tamil Nadu, Maharashtra, Gujarat, Jammu and Kashmir, Himachal Pradesh, West Bengal, Madhya Pradesh, Rajasthan and Punjab. Earlier this quarter, the travel aggregator had increased its workforce by 60%. Large number of hiring was dedicated towards its plans to scale up its hotel category business. When asked about the reason behind this massive hiring spree, Ayyappan Rajagopal, chief executive officer (CEO) of Cleartrip said, “Cleartrip is actively hiring for their upcoming tech park in Chennai where all the technology-related backhand work will be handled so that we can reach the target of 400 employees by the end of this year.” He further said, “By hiring top talent from the industry across levels, we are infusing fresh energy and ideas into our teams, setting us up for success. As we move forward in 2022, one of our key goals this year is to bring more offerings, scale up our existing verticals to bring more digitally-enabled travel experiences for our customers to boost their confidence while travelling during what has been a difficult time.” The announcement comes after Cleartrip’s acquisition by the Flipkart Group, part of US-based Walmart Group, which has accelerated the brand’s growth strategy to make an end-to-end travel app for the company by the end of 2022. In 2021, e-commerce giant Flipkart had <a href="https://www.businessinsider.in/business/news/flipkart-acquires-cleartrip-in-an-effort-to-cement-its-position-in-the-travel-booking-segment/articleshow/82081931.cms">acquired</a> a 100% stake in Cleartrip, making it a Flipkart Group company. Cleartrip has raised a total of $56.4 million in funding over 7 rounds, as per data from Crunchbase. Their latest funding was raised on October 29 last year in a secondary market round. Founded in 2006, Cleartrip is an online travel firm for booking flights, train tickets, hotel reservations, and activities in India and the Middle East countries. It holds offices across India, UAE, Saudi Arabia and Egypt. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/sharechat-to-acquire-short-video-platform-mx-takatak-for-around-4500-crore/articleshow/89479244.cms">ShareChat to acquire short video platform MX TakaTak for around ₹4,500 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/two-indian-cities-are-in-global-top-10-of-the-most-congested-places-to-drive-through-take-a-guess/slidelist/89476030.cms">Two Indian cities are in global top 10 of the most congested places to drive through – Take a guess</a>

Online travel booking portal Cleartrip to increase its workforce by 400 by the end of this year

New Delhi, Mar 23 () The Centre has requested chief secretaries of all states to exempt services of Sebi-regulated stock market entities as well as related workforce from the purview of lockdown imposed to curb spreading of coronavirus infections. The move comes against the backdrop of alleged instances of brokers, depository participants and other personnel related to stock markets facing difficulties in commuting to their workplaces. In a letter, Cabinet Secretary Rajiv Gauba has requested that services of Sebi-regulated stock market entities be exempted from the purview of lockdown. "Further, essential staff related to these agents should be allowed to commute so as to ensure that these establishments function smoothly," as per the letter addressed to Chief Secretaries of States and Administrators of Union Territories. Domestic stock market suffered its worst-ever single-day crash on Monday, with the benchmark indices plummeting as much as 13.15 per cent as sell-off continued amid rising coronavirus cases. In the wake of the coronavirus outbreak, many states have announced partial or complete lockdown, to curb spreading of infections. Besides, authorities are encouraging social distancing as part of dealing with the situation. "It is pertinent to mention that stock markets are critical for the economy and as such its various constituents are important financial market institutions," the letter said. At least three states - Maharashtra, Gujarat and Rajasthan - have already issued clarifications to authorities to allow employees working in exchanges and broking offices to commute to their offices. On Monday, stock brokers association Anmi asked markets regulator Sebi to include brokers and depository participants under essential services. The Association of National Exchanges Members of India (Anmi) has around 900 stock brokers as members. BJ NAB RAM

Exempt stock mkt entities, their workforce from lockdown: Centre tells states

<ul><li><keyword id="6359783" type="COMPANY" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> issued a clarification after news reports surfaced that its manufacturing facility in Aurangabad has been shut down.</li><li>The company said that “our manufacturing facility at Waluj [Aurangabad] is functioning normally.”</li><li>However, the company did accept that it had one Covid-19 positive worker on June 6. For which, it took all necessary measures for testing, contact tracing, self-isolation and complete sanitation as per protocol. </li></ul>India’s largest two-wheeler and three-wheeler manufacturer Bajaj Auto issued a clarification after <a href="https://www.freepressjournal.in/mumbai/as-79-employees-test-positive-for-covid-19-in-bajaj-autos-aurangabad-plant-video-of-rajiv-bajaj-mocking-lockdown-emerges">news reports</a> surfaced that its manufacturing facility in Aurangabad has been shut down after 79 employees tested positive for <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword>. However, the company said that its “manufacturing facility at Waluj is functioning normally”. “Post the country wide lockdown, our Waluj facility has been ramping operations from April 24, 2020 onwards. As part of the ramp-up, detailed cleanliness and health check protocols have been drafted and implemented in consonance and compliance with all Government regulations and guidelines. These protocols have been reviewed and approved by appropriate authorities and adherence is strictly monitored by our in-house health and security staff,” the company said in a statement. After a month-long shutdown, Bajaj Auto had reopened its plant at Aurangabad in Maharashtra on April 22, and due to the fear of the virus, the company was also working with a limited workforce. The Aurangabad plant handles a bulk of the exports of motorcycles and three-wheelers for the company. However, the company did accept that it had one Covid19 positive worker on June 6. For which, it took all necessary measures for testing, contact tracing, self-isolation and complete sanitation as per protocol. The company is now seeing demand normalizing at a faster rate than it expected. <a href="https://www.businessinsider.in/business/auto/news/from-bajaj-auto-and-eicher-to-tata-motors-factories-and-dealerships-are-open-waiting-for-pent-up-demand/slidelist/76445010.cms">According to Jeffries report, overall sales for June were </a>expected to be back at 80% of the normal times with the second half of the month at an almost 90% of the normal level. There is a large component of pent up demand that is driving current sales, it said. Since the beginning of 2020, Bajaj Auto’s share price has taken a massive hit because of the coronavirus pandemic, subdued sales and shutting down of showrooms and factories. The share price declined over 10.37% since the beginning of the fourth quarter, till date. The stocks, however, were on a positive trajectory after the automaker reopened many of its plants. <div type="image" title="Copy of Bajaj Auto Share price (1)" msid="76641770" hostid="261"></div> Earlier, <keyword id="45497" type="PERSON" weightage="20" keywordseo="Rajiv-Bajaj">Rajiv Bajaj</keyword>, managing director, Bajaj Auto had said that India’s approach for a lockdown was all wrong. "India has been in a draconian lockdown since the coronavirus outbreak. The draconian lockdown has flattened the wrong curve and that being of the GDP," said Bajaj in an interview with Congress’ Rahul Gandhi. Bajaj has been batting for the economy to <a href="https://www.telegraphindia.com/india/crisis-started-by-coronavirus-spread-by-government-rajiv-bajaj/cid/1766929">reopen even during the lockdow</a>n. He had said that the government should allow everyone to return to work except for those above 60 to help the economy recover. Bajaj told Rahul that India made a mistake by looking at the "West" and not the "East." He said India should have looked at Japan and South Korea rather than Europe and the US. "Don't understand how despite being an Asian country, we sought not to look East; we looked at Italy, France, Spain, UK &amp; US. Not right benchmarks in any sense be it in terms of inherent immunity, temperature, demography etc. We should have never been looking at the west, who are geographically and demographically different from us," he had said. Bajaj’s concerns came as Indian automakers have been dealing with the auto slowdown since last year and just as they were hoping to recover sales, the coronavirus lockdown hit them again. Moody’s Investor Service, the credit rating agency earlier said it expects global auto sales to fall 20% in 2020, more than its previous estimate of about 2.5% drop due to coronavirus concerns. It also retained a “negative” outlook on the sector and said it expects a healthy rebound in global sales in 2021 with a growth of 11.5%. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/from-bajaj-auto-and-eicher-to-tata-motors-factories-and-dealerships-are-open-waiting-for-pent-up-demand/slidelist/76445010.cms" data-type="tilCustomLink"> From Bajaj Auto and Eicher to Tata Motors⁠— factories and dealerships are open waiting for ‘pent up demand’</a> <a href="https://www.businessinsider.in/business/corporates/news/bajaj-auto-share-price-quarterly-profit-margin-and-new-tax-rate/articleshow/75848949.cms" data-type="tilCustomLink">Bajaj Auto’s profit margin springs up⁠ and the Pulsar maker opts for new tax rate to widen it further⁠— the shares jump over 4%</a> <a href="https://www.businessinsider.in/business/corporates/news/bajaj-auto-sales-slid-almost-38-in-march-when-the-covid-19-lockdown-was-in-place-for-just-a-week/articleshow/75818885.cms" data-type="tilCustomLink">Bajaj Auto sales slid almost 38% in March when the COVID-19 lockdown was in place for just a week</a>

Bajaj Auto denies that its Aurangabad plant is shut, says proper protocol was followed after one worker was COVID-19 positive

<ul><li><keyword id="6371031" type="COMPANY" weightage="20" keywordseo="IKEA">IKEA</keyword> India’s Mumbai store is all set to create employment opportunities for the localites with over 10,000 jobs in merchandising, store operations, supply chain and allied assembly services. </li><li>The e-commerce retailer plans on having 50% of its workforce to be women as well as recruiting from the lesbian, gay, bisexual and transgender (LGBT) communities. </li><li>More than just creating employment, the store plans on enforcing better employee policies to provide a conducive work environment.</li></ul>Swedish home furnishing giant <a href="https://nordic.businessinsider.com/category/ikea/">IKEA</a> is ready to expand its operations in India employing <a href="https://www.indiatoday.in/business/story/ikea-create-10000-jobs-maharashtra-with-launch-of-second-store-in-mumbai-1381082-2018-11-02">10,000</a> people directly and indirectly with the launch of its second store in India. In order to maintain a gender equal workplace, the company plans on making sure that at least half of its hires are women. The store opening in India’ financial capital, Mumbai, is expected to be operational by 2019 and has opened its doors to hiring from the lesbian, gay, bisexual and transgender (LGBT) communities as well. The Mumbai store will create 5,000 direct employment opportunities, as well as another 5,000 indirect jobs, in the retail sector. That’s a total of 10,000 people being employed by IKEA that they say will contribute to the growth of the retail sector in the state of <keyword id="13126" type="LOCATION" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword>. Their idea of inclusion and equality are very much in line with Maharashtra government’s development initiatives, said Rajesh Kumar, Principal Secretary, Labour Department, Maharashtra government in a conversation with <a href="https://www.indiatoday.in/business/story/ikea-create-10000-jobs-maharashtra-with-launch-of-second-store-in-mumbai-1381082-2018-11-02">India Today</a>. Coming to equality Women empowerment in the workplace is currently a hotly debated topic in India with the advent of the<a href="https://www.businessinsider.com/what-is-the-me-too-status-on-facebook-2017-10?IR=T"> #MeToo movement</a> taking over social platforms. The world’s largest e-commerce retailer has thus decided to enforce an equal ratio of women onboard across levels. And rather on focusing exclusively on the equality of women, the company <a href="https://www.business-standard.com/article/companies/ikea-to-hire-5-000-workers-for-navi-mumbai-store-create-10-k-jobs-in-3-yrs-118110200380_1.html">reported</a> that they are open to recruiting professionals from lesbian, gay, bisexual and transgender (LGBT) communities. IKEA’s strategic planning also includes employing better employee policies in order to have a healthy workforce such as day care facilities, pension plans, and mentoring. Per Hornell, IKEA India’s Market Manager in Maharashtra, commented that the state is an extremely important market and unique in terms of its lively and diverse culture, entrepreneurial spirit and utilization of space. Having invested <a href="https://economictimes.indiatimes.com/industry/services/retail/ikea-to-double-local-sourcing-by-2020open-store-in-navi-mumbai/articleshow/58325847.cms">₹7 billion</a>, the IKEA’s new store in Mumbai sprawls across 23 acres. The company also plans to launch its third store in Bengaluru with an aim of opening 25 new stores in the coming years at a total investment of ₹105 billion in the Indian market. Right now, IKEA only one store in the city of <keyword id="6354552" type="LOCATION" weightage="20" keywordseo="hyderabad">Hyderabad</keyword> with 1,000 employees on board. In fact, IKEA is the first major single brand retailer that caters to individual customers that successfully got Foreign Direct Investment (FDI) approval in India. In order to capitalise on that opportunity, the company plans on opening several stores in major cities across the country over the next 10 years.

Focusing on gender equality, IKEA India plans on creating 10,000 employment opportunities in Maharashtra

We often hear that size doesn’t matter and small things bring about the biggest changes. This is what happened when the tiny state of <a href="http://www.businessinsider.in/searchresult.cms?query=Sikkim+&amp;sortorder=effectivedate">Sikkim </a>emerged at the top spot with the best workplace conditions for women in India. <a href="http://www.businessinsider.in/searchresult.cms?query=Delhi&amp;sortorder=effectivedate">Delhi</a>, the national capital on the other hand happened to be ranked the worst for women to work in. 
 A report, jointly prepared by the Centre for Strategic and International Studies (<keyword id="6701742" type="ORGANIZATION" weightage="20" keywordseo="CSIS">CSIS</keyword>), a top American think-tank, and Nathan Associates, gave <keyword id="48118" type="CITY" weightage="100" keywordseo="Sikkim">Sikkim</keyword> the max marks that were 40 and Delhi received just 8.5 marks, reflecting what is wrong in the capital. 
 
"In something of a surprise, Delhi came last in our Index, due to its relatively low justice and workforce participation scores; its continued formal restrictions on women working at night in a wide range of sectors; and its lack of any incentives for female entrepreneurs in its industrial policies," the report said. 
 
The ranking was based on four main factors: legal restrictions on women's working hours in factories, retail, and the IT industry; the responsiveness of the state's criminal justice system to crimes affecting working women, such as sexual harassment; the number of women workers in the state as a percentage of total workers; and the number of incentives the state's startup and industrial policies offer women entrepreneurs. 
 
"But the tiny northeastern state of Sikkim is the breakthrough state for women in the workplace, thanks to its high rates of female workforce participation, lack of restrictions on women's working hours, and high conviction rates for workforce crimes against women (albeit on a small sample size)," the report said. 
 
Sikkim is followed by <a href="http://www.businessinsider.in/searchresult.cms?query=Telangana&amp;sortorder=effectivedate">Telangana</a> (28.5 points), <a href="http://www.businessinsider.in/searchresult.cms?query=Puducherry&amp;sortorder=effectivedate">Puducherry</a> (25.6), <a href="http://www.businessinsider.in/searchresult.cms?query=Karnataka+&amp;sortorder=effectivedate">Karnataka </a>(24.7), <a href="http://www.businessinsider.in/searchresult.cms?query=Himachal+Pradesh&amp;sortorder=effectivedate">Himachal Pradesh</a> (24.2), <a href="http://www.businessinsider.in/searchresult.cms?query=Andhra+Pradesh+&amp;sortorder=effectivedate">Andhra Pradesh </a>(24.0), <keyword id="28504" type="CITY" weightage="20" keywordseo="Kerala">Kerala</keyword> (22.2), <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> (21.4), <a href="http://www.businessinsider.in/searchresult.cms?query=tamil+nadu&amp;sortorder=effectivedate">Tamil Nadu</a> (21.1) and <keyword id="43945" type="COMPANY" weightage="20" keywordseo="Chhattisgarh">Chhattisgarh</keyword> (21.1). “All Four states (Sikkim, <keyword id="6354780" type="ENTERTAINMENT" weightage="20" keywordseo="Karnataka">Karnataka</keyword>, <keyword id="37102" type="COMPANY" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword>, and <keyword id="20154" type="ORGANIZATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>) have removed all restrictions on women working at night in factories, retail establishments and the IT sector,” the report said. 
 
These restrictions were removed as a result of court order in Karnataka, Andhra Pradesh, and Tamil Nadu. 
 
Maharashtra missed the perfect score by just a point as the state doesn’t allow women to work after 10 pm in retail establishments. 
 
India has the world's lowest rate (24 per cent) of female workforce participation as many states have laws limiting women's working hours, and Indian women face harassment in the workplace and while commuting. 
(image:youtube)

Sikkim topped the women workplace
index, Delhi at the bottom

The just-announced <keyword id="22906567" type="General" weightage="100" keywordseo="Unified-Pension-Scheme" source="keywords">Unified Pension Scheme</keyword> for central <keyword id="19933272" type="General" weightage="20" keywordseo="government-employees" source="keywords">government employees</keyword> will be available only for those who are currently subscribers of the New Pension Scheme (NPS), including retirees. The new scheme guarantees employees 50% of their average basic pay over the last 12 months before retirement, as a pension for a minimum qualifying service of 25 years against a market returns linked payout under the NPS. According to the scheme approved by the Union Cabinet, the pension will be proportionate for a lesser service period of up to a minimum of 10 years. Also, assured pension of Rs 10,000 per month on superannuation after a minimum of 10 years of service will be provided. The scheme has been brought out to address the concerns of government employees over NPS, which came into effect from January 1, 2004. Under the <keyword id="3246232" type="General" weightage="20" keywordseo="Old-Pension-Scheme" source="Orion">old pension scheme</keyword> (OPS), effective before January 2004, employees got 50 % of their last drawn basic pay as pension. Unlike the old pension scheme, UPS is contributory in nature, wherein employees will be required to contribute 10% of their basic salary and dearness allowance while the employer's contribution (the central government) will be 18.5%. Under the NPS, the employer contribution is 14%, and the employee contribution is 10%. However, the eventual payout depends on the market returns on that corpus, mostly invested in government debt. Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement. As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit. This prompted the Centre to constitute a committee in April 2023, under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture. Fulfilling the long pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Union Cabinet on August 24 approved the UPS, which will provide assured pension to 23 lakh eligible central government employees. Those opting for the UPS will not be able to switch back. The UPS will put an additional burden of Rs 6,250 crore on the exchequer per year. The expenditure will vary every year according to variations in the number of employees. In addition, there will be an arrear of Rs 800 crore that has to be paid under the National Pension System (NPS) to employees retiring before March 31, 2025. If these retirees opt for UPS, they will receive arrears. "UPS is being implemented by the Central Government, benefitting 23 lakh central government employees," Information &amp; Broadcasting Minister Ashwini Vaishnaw said on X on Sunday. If states also adopt the UPS architecture, a total of over 90 lakh government employees, who are presently on NPS, would be benefitted, he added. On Sunday, Maharashtra, where assembly elections are due later in the year, became the first state to announce the adoption of the UPS for its employees. RSS-affiliate Bharatiya Mazdoor Sangh (BMS) said though the government has attempted to overcome the shortcomings of the NPS, there are still some issues compared to OPS. BMS will decide its future course of action only after a detailed study of the UPS after it is notified. All India Trade Union Congress (AITUC) said it is nothing but an extension of the existing NPS. The trade union expressed apprehensions that UPS will have a lot of aberrations once implemented. AITUC reiterated that it will continue to fight for the restoration of the non-contributory OPS. ICRA Chief Economist Aditi Nayar said assured pensions will add to the government's committed expenditure in the future while reducing the uncertainty for employees. "This will have to be built into the fiscal consolidation roadmap going ahead," Nayar added. The UPS reflects a thoughtful approach to long-term social security, addressing concerns about the adequacy and sustainability of pension benefits in a rapidly changing economic landscape, said Shardul Amarchand Mangaldas &amp; Co Partner Dorothy Thomas. "This move signals the government's commitment to providing robust support for its workforce, enhancing financial stability for millions of government employees across the country," Thomas said.

Over 23 lakh govt employees under NPS get option to choose unified pension scheme

As the world continues to evolve and adapt, so too does the way we <keyword id="6355058" type="General" weightage="20" keywordseo="work" source="Orion">work</keyword>. <keyword id="824043" type="General" weightage="20" keywordseo="business-insider" source="Orion">Business Insider</keyword> India is back with its second edition of The <keyword id="1967222" type="General" weightage="20" keywordseo="future-of-work" source="Orion">Future of Work</keyword> Summit 2023 in Mumbai this Friday, March 17. The conclave aims to explore the latest trends and advancements in the way we work. This year's agenda is focused on several key areas that are transforming the world of work as we know it: technology, cultural intelligence, upskilling and human capital. Let’s get onto what you can expect at the FoW Summit 2023. The future of <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword> is tied in with the technology revolution, upskilling and the ability to find the confluence between work, technology and human experience. The day begins with a keynote address by Maharashtra’s Labour Secretary, Vinita Vaid Singal on the impact of technology on workforce, the need for reskilling and upskilling programmes to ensure that workers are equipped with skill sets to thrive in a changing job market. <h5 style="line-height:1.2;background-color:#ffffff;margin-top:12pt;margin-bottom:12pt;">Final call to <a href="http://businessinsider.in/fow2023">register </a>and be a part of all the action</h5>The rest of the sessions are broadly categorised into four sections - <ul><li>Enhancing Human Capital: The need for policies to align employee growth and business strategies to ensure that both workforce and business can thrive. -Nitin Sethi, CEO, Aon Consulting, India &amp; South Asia -Naiyya Saggi, Co-Founder, Good Glamm Group -Karan Virwani, CEO, WeWorkIndia </li><li>Technology: The future of work and technology and the tools driving digital transformation across workplaces over the next decade -Ashok Krish, Global Lead - Digital Workplace, TCS -Sumedha Chakraborty, Country Head, India &amp; SAARC Business, Google Workspace, Google Cloud -Mukesh Jain - CTO, VP &amp; Global Head of Innovation with AI/ML, Insights &amp; Data - Capgemini </li><li>Upskilling and push for Diversity, Equity, Inclusion (DEI): Two cornerstones that HR leaders must focus on to create a productive, diverse workforce that can adapt to changing needs of business. -C Jayakumar, Executive VP &amp; <keyword id="6378374" type="General" weightage="20" keywordseo="chro" source="Orion">CHRO</keyword>, Larsen &amp; Toubro -Harshvendra Soin, Global Chief People Officer and Head Marketing, Tech Mahindra -Ryan Lowe, Partner - People Advisory Services, E&amp;Y -Harish Iyer, Head - DEI, Axis Bank -Ishita Medhekar, CHRO, Metropolis Healthcare -Neha Bagaria, Founder &amp; CEO, JobsForHer </li><li>Culture, Content &amp; Creator Economy that focuses on the future of storytelling in India: How new platforms are revolutionizing the way we consume and tell stories and the opportunities it presents for content creators. -Rohan Joshi, Influencer, Comedian, Co-Founder - All India Bakchod -Advait Gupt, Co-Founder &amp; CEO, Kulfi Collective -Varun Duggirala - Influencer, Podcaster, Entrepreneur -Karishma Mehta, Founder &amp; CEO, Humans of Bombay</li></ul>Co-powered by Google Cloud, the Future of Work Summit 2023 is a confluence of the brightest minds reimagining the new era of work, workplace and workforce. Discover new trends shaping the workplace and learn about the strategies and tools that can help you stay ahead of the curve. Register <a href="http://businessinsider.in/fow2023">now</a>!

Final countdown begins! Here’s your guide to the Future of Work Summit 2023

<ul><li>Among functional skill suites with the highest intent-to-hire in Q1FY2024, development roles (28%) held the highest share. </li><li>The demand for SAP(16%) expertise has consistently remained high. </li><li>When it comes to demand for technical skills across various sectors, the IT sector (15%) has emerged as the frontrunner with the highest share. </li></ul><keyword id="1458566" type="General" weightage="20" keywordseo="digital-skills" source="Orion">Digital skills</keyword> like <keyword id="15777223" type="General" weightage="20" keywordseo="generative-ai" source="Orion">generative AI</keyword> and <keyword id="771372" type="General" weightage="20" keywordseo="data-analytics" source="Orion">data analytics</keyword> are in high demand and this will only rise signalling exciting prospects for India’s skilled workforce, according to ‘The Skills Report’ by Quess Corp, a business solutions provider. The report indicates that there has been a noticeable increase in the requirement for professionals possessing technical skills such as development, systems, applications, and products (SAP), <keyword id="6356669" type="General" weightage="20" keywordseo="automotive" source="Orion">automotive</keyword> design, testing, and infrastructure support in the first quarter of FY24. <cmsannotation type="cmsannotation" annotationid="In-demand functional suites" comment="subhead" text="In-demand functional suites">In-demand functional suites</cmsannotation> It is seen that 78% of aggregate demand emerges from only five tech skill suites. Among functional skill suites with the highest intent-to-hire in Q1FY2024 development roles (28%) held the highest share. There was a noted demand for developers skilled in over 65 technical proficiencies and platforms. Interestingly, full stack skills exhibited consistent and upwardly trending demand within the <keyword id="6640407" type="General" weightage="20" keywordseo="consulting" source="Orion">consulting</keyword>, automotive, <keyword id="6354778" type="General" weightage="20" keywordseo="banking" source="Orion">banking</keyword>, and telecom sectors. The need for SAP knowledge, accounting for 16% of expertise, has consistently stayed strong, covering both developmental and implementation facets. According to Quess, there was a notable rise in demand for these skills, especially within the consulting and global capabilities centre (GCC) client domains. Automotive design, constituting 14% of the sought-after expertise, stands as another significant skill in high demand. The global and Indian automotive sectors are currently witnessing a notable upswing in the necessity for skilled professionals. This surge can be attributed to the escalating integration of digital technologies into the industry and the growing need for individuals with adeptness in technological domains. Furthermore, there is a distinct rise in the requirement for testing skills (12%), applicable to both manual and automated domains. Particularly striking is the substantial demand for proficiencies in tools such as Selenium, TOSCA, Workday, and ServiceNow. Across various industries, the need for skills related to IT infrastructure support (8%) remains consistent, encompassing both Level 1 and Level 2 support functions. This requirement spans across a wide spectrum of more than 30 specific areas. In tandem with these functional skill sets, there is a call for competencies in domains such as data science, DevOps, cloud computing, enterprise resource planning (ERP), cybersecurity, artificial intelligence (AI), machine learning (ML), user interface and user experience (UI/UX) design, and other related fields. <cmsannotation type="cmsannotation" annotationid="The need for diverse recruitment frameworks" comment="subhead" text="The need for diverse recruitment frameworks">The need for diverse recruitment frameworks</cmsannotation> According to the report, to address the disparity between talent demand and supply, the industry must explore methods to enhance the availability of a skilled workforce using diverse hiring strategies. Utilising Center of Excellence programs, which maintain a pool of pre-assessed and skilled candidates, can expedite recruitment processes for conventional technology skills. For areas with insufficiently available technological expertise, companies can implement hire-train-deploy initiatives to empower candidates to enhance their skills and stay up-to-date with modern technologies. <cmsannotation type="cmsannotation" annotationid="Industry wise tech skills demand" comment="subhead" text="Industry wise tech skills demand">Industry wise tech skills demand</cmsannotation> When analysing the distribution of demand for technical skills across various sectors, the Information Technology (IT) sector (15%) has emerged as the frontrunner with the highest share, closely followed by the banking, financial services, and insurance (BFSI) sector (15%), as well as the digital engineering sector (13%). The telecom and healthcare industries have also experienced positive shifts in sentiment. As the global focus shifts towards renewable energy sources, the oil and gas sector is under pressure to revamp its business strategies and decision-making approaches in order to stay competitive. In response to this challenge, companies are embracing digital solutions to uncover new avenues for revenue generation, enhance production efficiency, and reduce operational costs. Cutting-edge technologies like data analytics, artificial intelligence, and the Industrial Internet of Things (IoT) are empowering these organisations to optimise intricate processes and adapt more adeptly to market volatility, unexpected disruptions, and other challenges. Says Vijay Sivaram, CEO, Quess IT Staffing, “Amid macroeconomic headwinds affecting the US and Europe, the IT services sector faces a downward hiring trend of 25-30%. However, this situation has opened up new opportunities, with GCCs ramping up talent acquisition and projecting an estimated employee strength of 1.4 million, hiring is likely to increase by 10%.” <cmsannotation type="cmsannotation" annotationid="Tech hiring concentrated in IT hubs" text="Tech hiring concentrated in IT hubs">Tech hiring concentrated in IT hubs</cmsannotation> Hiring efforts across India were primarily concentrated in the IT hubs located in Karnataka, Maharashtra, Tamil Nadu, Telangana, and Haryana. The prevalence of remote work policies and the enhancement of data services infrastructure have facilitated an increase in hiring activity in Tier and Tier3 cities. This trend is particularly noticeable within e-commerce and financial services companies. For example, Quess has successfully placed employees in cities such as Jaipur, Coimbatore, Indore, Kochi, Gulmarg, Siliguri, and several others.

Demand for five digital skills like Gen-AI and data analytics to pick steam exponentially

Business Insider held the highly anticipated <keyword id="16987573" type="General" weightage="100" keywordseo="future-of-work-summit" source="Orion">Future of Work Summit</keyword> on March 17, 2023. The event, co-powered by <keyword id="691847" type="General" weightage="80" keywordseo="google-cloud" source="Orion">Google Cloud</keyword>, and hosted at WeWork BKC in Mumbai, brought together some of the brightest minds in the industry to discuss the new era of work, the workplace, and the workforce. Attendees had the opportunity to participate in interactive discussions and network with fellow professionals. The summit focused on shifting strategies that help retain talent with a renewed focus on people, creating more humane workplaces amidst digital adoption, finding a balance between hybrid and physical workspaces, and creating a more equitable environment overall. The keynote speaker, <keyword id="9756134" type="General" weightage="50" keywordseo="vinita-vaid-singhal" source="Orion">Vinita Vaid Singhal</keyword>, LabourSecretary (Maharashtra), delivered an enlightening speech, highlighting the need for collaboration between the government, businesses, and employees to create a more inclusive and productive workplace. She shed light on the new labour laws and how the Industrial Relations Act is the one that will now define an employee’s relationship with the employer, especially for the gig workers. “There are various new professions which have come up: the IT profession, the individuals, the freelancers, the ones who are hired for a certain period of time. All these relations between the employer and the employer, or even the freelancing people who don't really have a boss but work for themselves. What are the work ethics and work laws applying to them? They have also been clearly defined in these laws,” she said during the keynote address. The event featured a wide range of panel discussions, fireside chats, masterclasses, and an exclusive breakout session with the <keyword id="6355629" type="General" weightage="80" keywordseo="google" source="Orion">Google</keyword> Cloud <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> team. With over 25+ speakers discussing various topics like enhancing human capital at the workplace, the evolution of shared workspaces from coworking to corporate and reimagining the future of work and business. Sumedha Chakraborty, India &amp; SAARC Head - Google Workspace emphasised the importance of innovation and meaningful collaboration in the modern era, especially in the post-pandemic world where businesses are adapting to new ways of working. She said, “Google as a company thrives on innovation. We are a product company, right? So it's very important for us to get our culture right to get everything that we work around on the tools. We get that right because it's about people. If we don't have the people, we don't have the great products that we build and everything starts from there.” Innovation and collaboration are critical elements for businesses to thrive in the modern era, and companies like Google, which prioritise innovation and user experience, help lead the way in creating products that meaningfully connect people and drive growth. The summit also saw conversations around the two cornerstones that HR leaders must focus on to create a productive, diverse workforce that can adapt to changing needs of business – upskilling and the push for diversity, equity and inclusion across companies. The summit saw participation from India’s leading creators Rohan Joshi, Advait Gupt, and Varun Duggirala as they discussed the future of storytelling in India – how new platforms are revolutionising the way we consume and tell stories and the opportunities it presents for content creators. Overall, the Future of Work Summit 2023 was an engaging and informative event that offered valuable insights into the changing world of work and the opportunities and challenges that lie ahead.

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