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Monday, 10 November 2014

Young blood rules the roost at workplaces.......

MUMBAI: A marked preference for young workers appears to have gripped India Inc. The overall trend, as surveyed by the India Skills Report 2015, shows a clear inclination towards young candidates, with about 72 per cent employers stating that they would prefer to hire candidates of age 30 years and below.
The preference for a young workforce is good news, with 60 per cent of the population soon to be in the working age category by 2020. This is one of the major findings of the India Skills Report 2015, launched in Mumbai by the Confederation of Indian Industry’s Global Summit on Skill Development. Given Prime Minister Modi’s vision on youth and focus on skill development, the second India Skills Report echoes the same sentiment.
Chennai has topped the list of States with the highest ‘employable population’, with around 70 per cent of its students scoring above 60 per cent in the employability skills test. Other cities that topped the chart were Palakkad, Kolkata, Delhi, Pondicherry, Lucknow, Hyderabad, Mumbai, Faridabad and Pune.
Better times
The report noted that Maharashtra, Delhi, Tamil Nadu, Uttar Pradesh, West Bengal and Andhra Pradesh have the most employable talent, and are the preferred hiring destinations of employers. Unlike last year, where most of the cities where from a single State, this year’s trend shows widespread presence across States, the report noted.
With the revision of the National Skill Development Policy of 2009, and schemes of different ministries, and portions of ₹10,000 crore earmarked to encourage entrepreneurship routed through the newly formed skills ministry, India’s workforce is in for better times.
A joint initiative of Wheebox, PeopleStrong and LinkedIn, the report surveyed 3 lakh students across 29 states, and seven union territories, and more than 125 corporate players.
It noted that hiring across States has intensified with maximum hiring activity in Karnataka, Maharashtra, Delhi, Tamil Nadu, Uttar Pradesh, West Bengal, Andhra Pradesh, Punjab, Gujarat and Madhya Pradesh.
Salient findings
As per the report, of all students entering the job market, hardly one-third meet the criteria of employment set by employers. The severity of the situation is accentuated by many levels especially when the economy is looking up, noted the report. Though new jobs are getting generated, there are not enough ‘skilled’ people, it added.
The report noted that an overall increase of about 23 per cent is expected in the hiring numbers per month. Out of about 11 sectors surveyed, hospitality and travel lead the way, followed by the banking and financial services sector, and core sectors which would see major increase in hiring.
Noticing a general trend amongst employers, the report noted that while looking for a candidate, most tend to prefer internal referrals, followed by a job portal and social media. However, the trend of choosing a candidate with the use of social media has increased from 6 per cent last year to 12 per cent this year. The survey aims to bring in a more realistic, holistic view of the skill and talent landscape in India. Noting an increase in the employability of the skill pool, the survey showed that corporates are expecting a rise of about 23 per cent in the number of jobs.
As compared to last year’s data, Maharashtra is a new entrant to the list of States where the talent supply and demand both seems to be high. Data showed that this State is doing an exemplary job by creating an encouraging environment for employers to establish their centres, and creating employment opportunities in the State, as well as training the skill pool to be the best in class.