Reskill Employees

In the upcoming year, the salary hikes are less likely to be dependent upon seniority

India Inc's skill scarcity could impact the IT & services sector?

The services sector contributes to more than 50% of the country's GDP. Could the skill shortage in the sector run up against recovery in these sectors? Let's delve into the details.

The country needs a strong action plan to reskill coal mine workers in order to protect their interests while making a transition from conventional fuel to renewable energy usage, a report said on Thursday. India's power sector is one of the most diversified ones in the world. The country's thermal power generation by coal accounts for 62 per cent of its total generation capacity, a joint report of EY, SED Fund and FICCI said. It also noted that India has been consistently working at a global level to reduce emission intensity to attain its net-zero target for 2070. "For the transition from conventional to clean fuel-based energy generation, it will be imperative to protect the interests of coal mine workers through a holistic approach, and a strong skill action plan is needed to transition from coal to renewable energy," said the report titled as 'Skill action plan to fuel transition from coal to renewable energy in India'. Somesh Kumar, Partner and Leader, Power & Utilities, EY .

To begin with, Infosys identified 36 skills that were important and created learning pathways

Company retains talent by focusing on reskilling employees, incentivising them to stay on.

With vaccines rolling out, the firm is looking forward to re-engaging with all possible stakeholders

The fund will be formed through contribution from employers equivalent to '15 days of wages last drawn' by workers being retrenched

Time and cost factor liability is also the other major factor which hinders companies from reskilling/upskilling their staff