March 2019 | People Strong

Students graduating from the Arts, Commerce and Science streams are being offered hefty starting salaries in campus placements. The big selling point, say companies, are their soft skills and analytical capabilities.

The number of notices to employers for defaulting on provident fund (PF) payments is on the rise. The Employees’ Provident Fund Organisation (EPFO) has started using technology extensively to track provident fund payments, according to human resource (HR) consultants. The retirement body is using data mining and data analytics to zero down on defaulters.

Even as subcontracting and third-party employers are rushing to balance the spike in IT talent demand, these personnel providers themselves have been facing a resource crunch. And, are turning to own skilling platforms for closing the gap. Web-based technologies, artificial intelligence and data sciences are the most sought skills; in many cases, the market requirements change in months. “The new-age skills are scarce and expensive to source.

The Indian workforce is estimated to increase to approximately 600 million by year 2022 from the current 473 million. As the workforce will increase by about 27 percent during this period, the overall composition of unorganized sector and organized sector is likely to change from 92 percent and 8 percent today to 90 percent and 10 percent in 2022.