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Tech platform for frontline workforce management <keyword id="3156551" type="General" weightage="80" keywordseo="betterplace" source="Orion">BetterPlace</keyword> on Tuesday announced to acquire <keyword id="14078129" type="General" weightage="100" keywordseo="okaygo" source="Orion">OkayGo</keyword>, an on-demand blue-collared gig workforce management platform, for an undisclosed sum. With this move, BetterPlace said it aims to reduce the cost of hiring for enterprises by 15-20 per cent by providing them a pool of pre-skilled and pre-verified workers ready to be deployed for short-term tasks. "Despite having a large employable pool, enterprises in India are now facing an acute shortage of skilled workforce. The only way to solve this problem is to provide a mutually beneficial marketplace geared towards enabling people to be gainfully employed," said <keyword id="2935823" type="General" weightage="50" keywordseo="pravin-agarwala" source="Orion">Pravin Agarwala</keyword>, Co-founder and CEO at BetterPlace. Through a marketplace model, OkayGo and BetterPlace will enable frontline workers to increase their daily and hourly earnings an average of 25-30 per cent. "We started OkayGo with a clear vision to empower half a billion people to get flexible gig-opportunities and provide businesses with high quality talent instantly. BetterPlace would provide us a fillip to achieve our vision," said <keyword id="14078130" type="General" weightage="50" keywordseo="tomonaga-tejima" source="Orion">Tomonaga Tejima</keyword>, Co-founder at OkayGo. Founded in 2015, BetterPlace has onboarded over 1,500 companies to date. Founded in 2019, OkayGo focuses on increasing earnings per hour of frontline gig workers. Its clients include companies like Flipkart, Swiggy, <keyword id="830092" type="General" weightage="50" keywordseo="zomato" source="Orion">Zomato</keyword>, Jiomart, Zepto and Apollo. Over the past two years, OkayGo said it has increased earnings for more than 10,000 frontline workers. OkayGo is BetterPlace's fourth acquisition so far as it acquired Oust Labs, Aasaanjobs and Waah Jobs in October last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/international/news/german-inflation-rate-hits-highest-level-since-70s-oil-crisis/articleshow/91911033.cms">German inflation rate hits highest level since 70s oil crisis</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/science/health/news/researchers-identify-rise-in-neurological-condition-guillain-barre-syndrome-following-astrazeneca-vaccine/articleshow/91911722.cms">Researchers identify rise in neurological condition 'Guillain-Barre syndrome' following AstraZeneca vaccine</a>

Blue-collar workforce management platform ﻿BetterPlace aquires OkayGo, aims to provide pre-skilled workers in India

<ul><li>Engineer with an IIT degree and a Virgo star sign is the most popular formula for self-made entrepreneurs.</li><li>Virgos is the star sign of most founders on Hurn IDFC First list of self-made entrepreneurs.</li><li>Cancer and Leo are the next most common star signs amongst the 405 founders who are a part of the list. </li></ul>It takes a lot of creativity, courage and determination to start and build a successful business. In this digital era, it helps if you are an engineer too. As per Hurun and IDFC First’s list of top 200 companies founded by 405 self-made entrepreneurs, 225 are engineers. Needless to say, the list is also dominated by startups and new-age businesses. The odds get better if you are from a marquee college like IIT, as 82 of them from the list are either from IIT Delhi, IIT Bombay or IIT Kharagpur. There are more points to score if you live in Bangalore, Mumbai or Gurugram — near the startup ecosystem. And there are another set of stars that have to align for success – the zodiac signs. Virgo is the biggest contributor to India's Top 200 Self-made Entrepreneurs of the Millennia with 14% companies with founders of this star sign respectively. Known for logical and practical approach to life, Virgos have a systematic approach to life — all good for would-be entrepreneurs. In a fast-changing world, people of this star sign can also become best business builders as they are known to constantly build skills and practice until they get perfect. This is followed by Cancer with 12% and people with these star signs are known to be effortlessly creative and knowledgeable even if they tend to be sentimental. It’s also a good trait for founders of today, who need to think out of the box. Leos also feature heavily in the list with 10% of the founders having this sign. The natural-born leaders also known for their self-assurance are also courage — all that takes to start and run a business from ground-up. Star signs of self-made entrepreneurs who run successful companies <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Star signs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Examples </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Virgo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukund Jha (Dunzo), Hemant Jalan (Indigo Paints), Siddhant Saurabh (Zupee), Uttam Digga (Porter) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cancer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neetish Sarda (Smartworks), </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Leo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bipin Preet Singh (MobiKwik) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gemini </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vimal Kumar (JusPay) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Scorpio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sushil Agarwal (Aavas Financiers) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capricorn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jahangir Mohammed (Twin Health) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sagittarius </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pranav Goel (Porter) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Libra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chandan Joshi (MobiKwik) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taurus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Harsh Binani (Smartworks) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aquarius </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pravin Agarwala (BetterPlace) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Saurabh Tandon (BetterPlace) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pisces </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashok Boob (Clean Science and Technology) </td></tr></tbody></table>Source: IDFC First, Hurun This millennium is ruled by startups – at least that’s what the Hurun and IDFC First report indicates. But their contribution to the economy is also massive. The top 200 companies that make up the list have created wealth to the tune of ₹30 lakh crore. That’s as big as the GDP of Denmark. Retail billionaires — Radhakrishna Damani of Avenue Supermarts (DMart), and Binny Bansal and Sachin Bansal who founded Flipkart are the top wealth creators since 2000. And, they have started from scratch. “This is a testament to the immense value that these entrepreneurs have created. It is also noteworthy that approximately 25% of these companies are publicly listed, and 34% have expanded their operations globally, showcasing the global ambitions of Indian entrepreneurs” said Anas Rahman Junaid, founder &amp; managing director of Hurun India. Most of the list, as expected, is dominated by startups – unicorns and soonicorns. It indicates that a new-era of companies and the digital economy is ruling the wealth creation sphere. “If India stays on such course of investing in physical, digital, and social infrastructure and continue with reforms, we will all see the miracle of India transforming into a developed country within our lifetimes, exceeding per capita income of $15,000 by 2050,” said V Vaidyanathan MD &amp; CEO, IDFC FIRST Bank. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/new-indias-greatest-wealth-creators-are-90s-babies-born-without-a-silver-spoon/articleshow/105623349.cms">New India’s greatest wealth creators are 90s babies, born without a silver spoon</a> <a href="https://www.businessinsider.in/stock-market/news/stellar-listing-gains-book-profits-if-there-are-bumper-gains-say-experts/articleshow/105630290.cms">Stellar listing gains: Book profits if there are bumper gains say experts</a>

The sure shot ‘signs’ of a successful entrepreneur

<ul><li>Retail, QSR and banking, financial services and insurance sectors were the top three industries with the highest attrition rates of frontline workers.</li><li>The sector which saw the second highest rate of attrition is e-commerce, followed by banking and insurance sectors.</li><li>In FY22, around eight million frontline jobs were created in India with the highest contribution coming from the e-commerce sector.</li></ul>Retail and <keyword id="446951" type="General" weightage="20" keywordseo="quick-service-restaurants" source="Orion">quick service restaurants</keyword> have the highest rate of attrition in terms of frontline workers, according to a report by <keyword id="3156551" type="General" weightage="20" keywordseo="BetterPlace" source="Orion">BetterPlace</keyword>. The monthly <keyword id="505875" type="General" weightage="20" keywordseo="attrition-rate" source="Orion">attrition rate</keyword> for these sectors stood at 19% in FY22 – which means every month around a fifth of their employees are quitting. “These industries have also witnessed a huge surge in demand for their products and services during and post the pandemic. Since the demand is huge and processing times lean, they require workers in large numbers. The hectic nature of jobs and easy replaceability of workers can be the two major reasons why attrition is high in these industries,” said the report. The sector with the second highest attrition rate is ecommerce. That’s followed by banking and financial services and logistics and mobility. Facility management and IT together have had an attrition rate of 10% and it also ties with the manufacturing sector. Attrition rate, also known as churn rate, is the number of people who have left the company, divided by the average number of employees over a period of time. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attrition rate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail and QSR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">E-commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Logistics and mobility </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IFM and IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr></tbody></table>Source: BetterPlace report According to <keyword id="113282" type="General" weightage="20" keywordseo="Retailers-Association-of-India" source="Orion">Retailers Association of India</keyword>, the <keyword id="71937" type="General" weightage="20" keywordseo="Retail-sector" source="Orion">retail sector</keyword> employs over 45 million people. Over 5 million employees left their jobs or lost their jobs during the pandemic in the retail sector and the sector has come a long way since then; as Indians resumed their love for shopping in the last two quarters. The retail industry is bouncing back to pre-Covid levels and is currently on a hiring spree as large retail chains like Aditya Birla Fashion, Tata owned Trent, Shoppers Stop are expanding into smaller cities. <cmsannotation type="cmsannotation" annotationid="Sectors on a hiring spree due to high attrition" comment="subhead" text="Sectors on a hiring spree due to high attrition">Sectors on a hiring spree due to high attrition</cmsannotation> The report says that in FY22, around 8 million frontline jobs were created in India. E-commerce contributed the highest to these jobs, followed by logistics and mobility, according to the BetterPlace report. As retail consumption rose after the pandemic, the second quarter in FY22 saw a huge rise in demand for frontline workers because of a rapid increase in jobs in the delivery and retail segments. “India’s frontline workforce has been an essential cog in our economic machine, driving significant growth across sectors. As the economy is normalizing, we are seeing a resurgence in demand for frontline workforce and hence, the creation of jobs - eight million as per our data, and this will grow up to 50 million by the end of this decade,” said Pravin Agarwala, co-founder and group CEO at BetterPlace. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharma-files-papers-for-an-ipo/articleshow/94249464.cms">Condom maker Mankind Pharma files papers for an IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ujjivan-raises-475-crore-through-qip-strong-participation-from-quality-long-term-investors/articleshow/94245879.cms">Ujjivan raises ₹475 crore through QIP; Strong participation from quality long-term investors</a>

Hectic jobs in retail and quick service restaurants is leading to high attrition: Report

<ul><li>According to Deloitte’s ‘Future of Work Accelerated’ report, three in five organisations (60%) are gauging increasing share of <keyword id="7771650" type="UNKNOWN" weightage="20" keywordseo="gig-workers">gig workers</keyword> so as to reduce the dependence on full time workforce. </li><li>Nearly 80% of the organisations have less than 10% of their employees as gig workers, accounting majorly the contractual staff. </li><li>As many as 120 million gig workers are now unpaid. However, the future does look promising to middle management level workers and their share will go up in a post-Covid world. </li><li>The employees are putting in more work hours due to remote working, leading to a significant decrease in absenteeism.</li></ul>India Inc is still coping with the uncertainty during the Covid-19 pandemic. The organisations had to move to a remote setup in a matter of days, thanks to the lockdown. However, this gave the companies a chance to explore new employment models. Many companies are now evaluating an ‘alternative workforce model’ with gig workers and freelancers. According to Deloitte’s ‘Future of Work Accelerated’ report, three in five organisations (60%) are gauging increasing share of gig workers to reduce the dependence on full time workforce. Gig workers struggle during Covid crisis However, off late <keyword id="7932519" type="UNKNOWN" weightage="20" keywordseo="gig-economy-workers">gig economy workers</keyword> are struggling as their earnings depend on ‘how much’ they work. A large chunk of such workers also lost their jobs ‘on paper’ leaving them with a bleak future even after the lockdown ends. “The slowdown started around mid-March and only around 20-30 million people now have their employment intact,” Pravin Agarwala, cofounder of Betterplace, a blue-collar employee management firm, <a href="https://m.economictimes.com/jobs/virus-takes-a-toll-on-blue-collar-staff-no-pay-for-12-crore/amp_articleshow/75415272.cms">told</a> ET. As many as 120 million gig workers are now unpaid. However, the future does look promising to middle management level workers and their share will go up in a post-Covid world. 80% organisations have less than 10% employees as gig workers As per Deloitte data, nearly 80% of the organisations have less than 10% of their employees as gig workers, accounting majorly to contractual staff. However, as India embraces <keyword id="4350645" type="PERSON" weightage="20" keywordseo="Flexi-Staffing">flexi staffing</keyword>, this is going to impact the unorganised workforce the most. India’s gig economy is projected at a market size of $455 billion over the next three years — which might increase even further with the new-found interest. “A large majority of this is expected to be contributed by the unorganised sector of the economy, as India Inc's adoption of gig workers remains nascent at best,” the report said. Automotive companies, media houses and business process management companies are exploring areas that can be equipped with remote working models using gig workers on a sustained basis. A shared employment model For instance, the report referred to a global business process management company that is considering an alternative workforce for their blue-collar workers to recover in a post lockdown world. In fact, it might also venture into a shared employment model with other organisations. On the other hand, the companies heavily dependent on permanent workforce will continue doing so. To facilitate employee engagement, organisations are heavily investing in future-ready skills. These corporates have reported a three times increase in training and virtual learning programmes for skills like managing ambiguity, creating virtual presence, and negotiating remotely. Moreover the pandemic has led to the adoption of virtual collaboration tools. Three-fourths of CXOs said that there was a surge in ‘forced adoption’ of tech platforms. However, this has made the decision making process more efficient — largely due to efficiency coming from virtual meetings. In addition, individual productivity has also increased due to ‘<keyword id="123591" type="PERSON" weightage="20" keywordseo="Work-from-home">work from home</keyword>’ routines. In fact, they believe that the employees are putting in more work hours, leading to a significant decrease in absenteeism. See also: <a href="https://www.businessinsider.in/thelife/news/in-times-of-isolation-here-is-what-it-feels-like-to-work-with-a-restless-extrovert-partner/articleshow/75446777.cms">In times of isolation, here is what it feels like to work with a restless extrovert partner</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-to-pay-cargo-flight-operators-on-a-per-hour-basis-as-it-pays-no-salaries-for-april-and-may/articleshow/75446181.cms">Spicejet to pay cargo flight operators on a per-hour basis as it pays no salaries for April and May</a>

You Searched For "pravin agarwala" and got 4 results

Blue-collar workforce management platform BetterPlace aquires OkayGo, aims to provide pre-skilled workers in India

IANS

The sure shot ‘signs’ of a successful entrepreneur

Katya Naidu

Hectic jobs in retail and quick service restaurants is leading to high attrition: Report

Vaamanaa Sethi

In a post-Covid world, more companies will engage freelancers, says Deloitte

Prerna Sindwani

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You Searched For "pravin agarwala" and got 4 results

Blue-collar workforce management platform ﻿BetterPlace aquires OkayGo, aims to provide pre-skilled workers in India

IANS

The sure shot ‘signs’ of a successful entrepreneur

Katya Naidu

Hectic jobs in retail and quick service restaurants is leading to high attrition: Report

Vaamanaa Sethi

In a post-Covid world, more companies will engage freelancers, says Deloitte

Prerna Sindwani

Popular Keywords

Buying Guides

Blue-collar workforce management platform BetterPlace aquires OkayGo, aims to provide pre-skilled workers in India