EPFO Survey Stats 3.11 Million Job Opportunities Created in Last 6 months

EPFO Survey Stats 3.11 Million Job Opportunities Created in Last 6 months

A survey report by Employees’ Provident Fund Organisation (EPFO) shows at least 3.11 million formal job opportunities have been added in India across different age groups over the period of six months ending February 2018. This is the first time that estimates of payroll count, based on a database maintained by EPFO, has been shared by the Central government. The Ministry of Labour and Employment stated in a press statement, “It has now been decided to publish the age-band wise estimate of all new subscribers as declared by their employers. This data can be helpful in policymaking, planning and research work as the planners may have an idea as to what is the estimate of employees in different age band.” Also Read: How to succeed at your new job! The provisional figures released by the EPFO for six months showed 3.11 million workers joined the workforce in the formal sector during September 2017-February 2018. On a pro-rata basis, this would mean that 6.22 million additional jobs were created in 2017-18. However, this may be a generalization as the pattern of jobs every month was quite erratic from September to February. For instance, addition to jobs slowed in three months out of the six months under review. The slowdown was steepest for February on a monthly basis. Madan Sabnavis, Chief Economist with CARE Ratings, said, “Definitely some jobs are being created. The last few months of a financial year are never really a recruiting https://www.pass4lead.com/400-101.html time, if you are looking at the organized sector. Also, people may exit during the end of the financial year. That is why February figures might be...
Nupur Mallick to Replace S Padmanabhan as new HR Chief of Tata Sons

Nupur Mallick to Replace S Padmanabhan as new HR Chief of Tata Sons

Nupur Mallick is all set to take over as the new HR Chief of Tata Sons as per the report by Times of India. Mallick is working with Tata Sons from past 21 years. She will replace industry https://www.pass4lead.com/600-460.html veteran S Padmanabhan who had been heading the HR function for past 18 months. He would be turning 60 this May and hence would be retiring as per the company policy. Mallick joined TCS as a campus placement hire in 1997, later joined as HR Officer in Mumbai. She was responsible for driving performance-oriented culture, career and succession planning, employee engagement and establishing world class induction process in her tenure in Mumbai. Later, in December 2005 she was appointed as the HR Director for UK and Ireland. Her excellent people and change management skills https://www.pass4lead.com/500-005.html have helped TCS grow substantially in the geography. Nupur Mallick is an alumnus of XISS, Ranchi, where she pursued her masters in Personnel Management and Industrial Relations. Her areas of expertise include integrating teams in culturally diverse set-ups, driving operational excellence, retaining and developing talent and structuring compensation & benefits. Mallick’s proposed appointment highlights Tata Sons chairman N Chandrasekaran’s move to strengthen his leadership team. Chandrasekaran has been building up a support system comprising external hires and candidates from TCS where he was the CEO before becoming the chairman of Tata Sons in February 2017. Tata Sons Limited is the holding company of the Tata Group and holds the bulk of shareholding in group companies. It was established as a trading enterprise in 1868. About 66% of the equity capital of Tata Sons is held by...
Standard Chartered Appoints Sachin Gupte as Head of Human Resources India

Standard Chartered Appoints Sachin Gupte as Head of Human Resources India

One of the largest British multinational banking and financial services company Standard Chartered Bank recently appointed Sachin Gupte as its new Head of Human Resources (HR) in India as per the report by Business World. Gupte will succeed William Paul, who retired after having a stint of almost a decade with the Bank. Prior to this appointment, Sachin was the Head of Human Resources, Global Banking (GB) and Transaction Banking (TB) at Standard Chartered. He has 16 years of service in the Bank holding various HR roles in Mumbai, London, Chennai and Singapore and has been instrumental in the restructure within GB and TB and also designed and implemented the talent strategy for TB. In his new role, Sachin will report to Zarin Daruwala, the Bank’s India CEO and Peter Hatt, Regional Head, HR, ASEAN and South Asia and Global Head, HR, Private and Commercial Banking for Standard Chartered. Standard Chartered Bank is one of India’s largest international banks with over 100 branches in more than 43 cities, a combined customer base of around 2 million retail customers and around 2500 corporate and institutional relationships. (Image- yimg.com) Related Read: I Never Looked Back after Setting Work...