• UGI USER
  • May 25, 2024
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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.