IndianEra > Business > Indian Formal Sector: Jobless and Work Exploitation Amid Hiring Demand!

India’s hiring process is set to begin on a large scale in the June-July period, say the sources.

With the world’s biggest lockdown gradually unfolding, Indian companies are getting ready to restart hiring.

“Companies have already started conversations with us for hiring requirements in June and July, and the sense we are getting is that the worst of the job losses are behind us,” says India’s one of the leading private sector employers.

They expect a sharp rise in the hiring process in the financial, healthcare, and logistics sectors.

In contrast, there is also a worst-ever scenario in the Indian formal sector, now!

Jobless and Work Exploitation

Jobless and Work Exploitation

Around 122 million employees were forced out of work due to stay-at-home rules.

The employer said various MNCs had asked them to kickstart their hiring process, at least 70 percent of their planned activity.

MNCs India

However, such companies account for only 15 percent of the country’s workforce. In comparison, 40 percent of GDP is concentrated in the informal sector.

Many of those migrant workers, who lost jobs, are already returning to their hometowns. Majority of them are in distress and deeply reluctant to be back to their work destinations.

This scenario is likely to place India in a situation that Goldman Sachs expected as the ‘deepest crisis ever’, in its report earlier today.

Now, the need of the hour will be bringing migrants back to work in the urban population.

Migrant Labor

While the Center is taking steps to revive the interest among migrant labor and farmers, a few state governments are diluting labor laws allowing companies to extend extra working hours, hire and fire employees at their own will.

Citing this scenario, the employer says there is a need for better labor reforms to avoid exploitation at work.

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Posted by IndianEra, 20/05/2020