INDIA'S INFORMAL LABOUR MARKET REQUIRES FORMALIZATION FOR EQUITABLE OPPORTUNITIES: ISF

Why in the news?

Indian Staffing Federation (ISF) emphasizes formalization of India’s informal labour market.
Informal labour constitutes 85% of the workforce, contributing over half of the GDP.
ISF advocates for a structural shift towards formal employment for equitable opportunities.

source:medium

About Flexible Staffing:

Flexible Staffing: Employees sourced from temporary agencies, leased, or contracted.
Also called temporary staffing, prevalent in white-collar industries.
Offers flexibility to organizations in managing workforce needs.

About Indian Staffing Federation (ISF):

Apex Body: Represents the Staffing industry/Private Employment Services.
Authorization: Empowered to engage with government agencies and trade bodies on behalf of the industry.
Social Security: Aims to provide social security and long-term benefits to temporary/flexible staff.
Purpose: Enhance long-term growth and contribute positively to the economy and society.
Industry Size: Staffing industry covers only 2% of India’s employable population.
Employment Scenario: 10% in organized sector, 250m self-employed, 110m employed by temp/flexi-staffing and unorganized sector.
Market Growth: ISF works to expand the temp/flexi-staffing market.
Regulation Concerns: Laws and regulations inadequately address the Staffing industry/Private Employment Services.
Advocacy: ISF aims to engage with lawmaking authorities to create appropriate regulations for the industry.

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