Besides IT-software, other industries that showed a healthy upward trend in the recruitment activity were business process outsourcing (BPO) (11 per cent), education (11 per cent), IT-hardware (11 per cent), construction & engineering (1 per cent), and fast-moving consumer goods (4 per cent)
These employees are seen as more focused on faster job growth, more technologically savvy, have a strong need for constant peer group validation and appreciation, more entitled, lifestyle-oriented and want to feel like their work or they matter to the organisation at large.
Congress said that while the BJP came to power on the slogan of “acche din”, as many as one crore jobs were lost in the last one year alone because of the “faulty economic policies” of the Narendra Modi government.
Srivastava attributed the recent revisions in EPFO enrollment data to the attritions getting reported with a lag, adding that they never “talked about job creation” and that EPFO data should be instead seen as a proxy for formalisation.
The government is looking at various data sources and has started releasing enrolment data for Employees Provident Fund Organisation (EPFO) as an indicator. As per latest data, 41.26 lakh enrollments were recorded in the EPFO database for Sept 2017-April 2018.
BMS president Saji Narayanan said that notification that amends the Industrial Employment (Standing Orders) Central Rules, 1946, permanent employment will vanish from the industrial sector and all jobs will be converted into temporary contract work for a fixed period only.