Unemployment Rate at Peak in India - Report

A recent report released by the Centre for sustainable employment has revealed that employment India today is at its peak considering the statistics of the past 20 years. There is not only a shortage of jobs but the wages are also depressed. The state of working India 2018 (SWI) report says that unemployment in India in youth stands at a staggering 16%, viz. highest in the past 20 years.

The report that is written by a group of journalists, researchers, civic society activists and policy makers has also highlighted the fact that the rise in GDP of the country hasn’t affected or caused any increase in employment. The increase ratios is only 1% increase in employment against 10% increase in GDP. 

Earlier, the problem was a bit different. India had the problem of underemployment as well as low wages.  But the recent reports reveal that its unemployment big time that has cropped up to a staggering five percent. The economy looking good either with petrol prices touching the 100 rupees mark and the rupee losing its weight against the dollar and crossing the rupees 70 mark. Additionally education over the past decade has got its dues and as the school admission rates have increased but the job market hasn’t got any spurt as such. Even the quality of education before and now has changed drastically and rather negatively. It is a serious issue and needs to be looked into. 

A study around the employment scenario highlights the fact that growth and employment relationship has gone weak over the period of years. It also focuses on the low earnings. As per a report of 2015, 67% of Indian household had an income of around 10K. Comparatively as per the 7th Pay commission, the minimum salary recommended comes to 18K. This means that it’s below standard. Also, in unorganized sectors 90% industries pay wages below the minimum CPC. 

Presently the GDP is 7% but employment growth is 1% or less while comparatively in the 1970’s and 1980’s GDP was only 3% but employment growth was 2% per annum. Well, its time India looks into the unemployment issues in India and works out reforms to change the present scenario. 

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*Sourced from the Internet

All You Need to Know About Turnkey Recruitment Services

Companies, brands, industries and organisations that are a start-up, planning expand their business, launch a new product, division or department or are a M & A practice make use of turnkey recruitment services. These businesses are in dire need of staff in bulk and that too in a limited time span. The hiring service is generally opted to hire middle and higher management levels.  The idea is to utilise the company’s time and resource in the right direction while the Recruitment service provider takes care of the recruitment. A hiring company that offers turnkey recruitment solutions provides 360 degree solutions that include end to end services right from sourcing to on boarding. Turnkey recruitment services have time and resource restrains and hence it’s very important to achieve the mapped targets in time because failing to do so can negatively affect the organisation's long term goals. Therefore, turnkey recruitment service providers even go to the extent of providing initial training and orientation in order to boost the new team’s productivity. 

Turnkey Recruitment Benefits 

Turnkey recruitment service providers can identify top talent in the area with the right expertise and experience and suitability. They can creatively and effectively source as well as recruit the required talent by offering cut to fit services rather than the one size fits all approach. Their benefits include -

• Ability to recruit at a large scale and at multiple locations
• Offer flexibility around their services 
• Eliminate procedures like contractual ones that can burn a hole in the pocket
• Time, resource and cost saving for the company
• Big pool or database of candidates
• Transparency in addressing headcount limitations

Having said that, every company can manage recruitment's on their own but it involves a whole lot of investment in terms of time, resource and money and hassles around the same like advertising, networking, head hunting, interviewing, documentation, training and more. Therefore, having a turnkey recruitment specialist as your extended hiring arm viz. working in partnership with turnkey recruiters based on organisation's needs, structure, work environment and future plans does help streamline the organisations hiring process and save hugely on time, resources and most importantly costs. 

Few Reasons You Need A HR Consultancy To Handle Your Firms Recruitments

An HR consultancy is always a good idea because it helps a business to focus on priority tasks and get out of the hassles of operations and in-house people management.  Whether you are a startup with less than ten employees or you are a growing firm with over fifty employees, it’s always a good idea to have a retained HR consultancy to manage your resource requirements. There are sure shot signs that point out towards its necessity in an organization. Here is a list of some of them.

1. If you find that you are using a lot of your time in meetings and not implementation of your goals.
2. If you find that more time is used upon dealing and resolving employee issues than anything else
3. Your team has a morale drop and seems demotivated
4. You see your team taking a lot of sick leaves for not very valid reasons but possible due to increased stress
5. Difficulty sourcing talented professionals that suit your requirements
6. In-house HR struggles with workforce management due to skillset issues
7. Your spend on legal advice on complex HR matters is increasing consistently
8. You spend your weekends and nights in planning more about holding up the business than growing it
9. You find your talented workforce leaving for taking up jobs with your competitors.
10. There are issues with customer satisfaction in spite of all your efforts and practices around it.

If you are experiencing such problems over a period of time then it is advisable that you think about opting for a retained HR Consultancy for your business. Here’s how they can help you with your problems –

Retained HR Consultancy does guarantee you exclusivity over other consultancy’s and many of them offer ready packages which include managing the paperwork related to hiring that includes offer letters, employment terms and conditions, Resignation and exit interview documents, to name a few.  There are actively involved in management and retention of talented employees as well proper implementation of health benefits plans, inter-communication within the organization and employees as well as incentive as well as reward programs. With HR consultancy advantage any business can achieve their business goals earlier than usual.  Many HR consultancies also provide human resource planning services like Evaluation, Promotions and Layoff management besides recruitment, hiring, selection, training and development of talented individuals, to name a few.

Well, it is a good idea to have a HR consultancy manage your human resource requirements and assist you in achieving your business goals.

Holistic Approach - Ultimate Strategy to Acquire the Best Talent

The biggest challenge in the talent acquisition marketplace today is competition. Unemployment is at an all time low as the economy is heading northward steadily. Hence, acquiring the best talent requires a proactive approach. There’s also a dire need for brands and companies to focus on retaining talent besides acquiring skills and providing internal resources necessary for hiring top talent.

Well, here’s where many companies fumble. Rather than concentrating on the big picture or having a visionary and holistic approach, companies and brands do not mind sacrificing the brand and its effectiveness in their effort to save on time.  Let's look at few mistakes that brands make when they go talent hunting and how a holistic approach can be the ultimate strategy for acquiring the best talent.

Taking Shortcuts – Brands tend to take shortcuts like mass emailing or spamming to be specific.  To acquire around 10 candidates they mass mail 75 and ruin it all. Comparatively, an approach wherein they mail only 10 out of the 75 candidates personally can work wonders and get optimum output. 

No Upgradation – Many companies and brands are still using run of the mill methods of hiring and show a lot of resistance when it comes to upgrading to new technology or incorporating new strategies or new skills acquisition. Upgradation is a must to meet the hiring needs of today’s times amid competition.

Quantity over Quality – This is again a mistake that many brands, organizations or companies keep making. Concentrating on quality can help in a far better way and looking out for employees that are a culture fit through sources like referrals is a good idea.  Having said that, there is no denying that referrals aren’t always the best idea. For a profitability and culture shift you need to have a more proactive recruiter led or outbound approach. 

One Source Only– If you stick to only one source for all your hiring needs for example linked in, then you’ve already lost the battle. So, go all out and widen your source horizon to get optimum results. 

Over Complicating – Using the latest technology like the artificial intelligence or open web sourcing tools is always a great idea but becoming a slave of it entirely ain’t. Rather than over-complicating, try to make things simple. A little bit of automation is necessary to speed up the tedious tasks so that you can be more productive, is great. The fact always remains that technology is only the vehicle that you drive. Ultimately, whether the ride turns out to be bumpy or smooth irrespective of whether you’re driving a Maruti or a Mercedez, depends only on how the roads are and how you drive. 

Well, to get the most out of the sources you have, try increasing your network of people, join forums, communities to learn and upgrade yourself consistently and last but not the least hiring is all about candidate experience, so focus on that and sail through the hiring rapids with ease. 

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Top 5 Trends Doing Rounds in the HR Ecosystem

With the changing times, even the HR, a dynamic function in an organization is changing. This is noticeable from the way candidates are hired, trained, rewarded and retained. Here are the top five trends in HR that are fundamentally changing the relationship between the employee and the employer.

Machine advantage – With the advent of advanced technologies, even organizations are doing away with excessive paperwork, stacking, storage work and empowering their employees with new gadgets and tools that help them deliver at speed. Customization has helped better functioning of the HR and one example is now the HR is equipped with an app that asks every individual about even their mood on a particular day. This is how personalized it’s getting with technology.

Going flexible  - Organizations are getting more and more flexible with respect to salary adjustments and structure, workplace flexibility in terms of work from home facility as well as an appraisal.  For example if an employee wants to increase the home rent and adjust the same to some other expense, HR does offer flexibility on the same.  Numerous companies also offer flexible work timings due to the issues with respect to traffic, distance, congestion and more.

People Power – Earlier, employers were having a protective approach towards employees but times are changing and employers are allowing their employees to be their own bosses in a way. Today, employees are given the freedom to decide on how much they can deliver in the given period of time and are eligible for two or even three promotions in a year’s course based on the performance.

Workforce Diversity and Inclusiveness – The best example of inclusiveness is that organizations are accepting female employees with a gap in work due to pregnancy and delivery, back again. Diversity is another major trend where organizations are encouraging a team that includes people from all over the country, castes as well as religion.

Well, we all know that relationship between an employer and employee is not always a cake walk. Even though, the aforementioned trends in HR are a pathway to help organizations attract, acquire and retain as well as inspire best of the talent pool available towards forming a win-win relationship.