Human Resource Community

Prime Minister Narendra Modi has assessed the situation of Human Resources in all departments and ministries, and mandated that recruitment of 10 lakh employees by the in “mission mode” in next 1.5 years, the Prime Minister’s Office (PMO) said in a tweet. The Ministry of Home Affairs has initiated the process to fill vacancies across Central government departments on a mission mode. On Twitter, this has been called a ‘people-centric’ decision by Minister of State for Personnel Jitendra Singh, which will “bring a lot of cheer and optimism for India’s youth. Meanwhile, according to a study released by the Ministry of Statistics and Programme Implementation on 14 June 2022, the country’s unemployment rate fell to 4.2 percent in 2020-21, despite the fact that millions of people were made jobless by the pandemic. In India, the labour force participation rate, or LFPR, has also increased. It increased from 40.1 percent in 2019-20 to 41.6 percent in 2020-21! The results for female labour force participation have also been fairly positive. Women’s participation in the labour force is expected to increase to 25.1% in 2020-21. In 2019-20, it was only 22.8 percent, and in 2017-18, it was even lower at 17.5 percent. The number of employed people has increased as well, as evidenced by the fact that the worker population ratio (WPR) has risen to 39.8% in 2020-21. The figure was 38.2 per cent in 2019-20, 35.3 per cent in the period before that and only 34.7 per cent in 2017-18.

Mobikwik, a Gurugram-based fintech firm, has temporarily shelved its plans for an initial public offering (IPO) in favour of raising $100 million from a variety of investors. The cash will be used by the digital payments company to not only hire new employees, but also to expand its business and improve its marketing tactics and goals. According to Bloomberg, the investment round’s valuation has yet to be released. Mobikwik, which was co-founded by Upasna Taku, CEO, was able to secure $20 million in funding from the Abu Dhabi Investment Authority (ADIA) in June 2021, at a valuation of $700-$750 million. To date, the company has reportedly raised $176 million. The thirteen-year-old fintech firm operates a platform that offers a variety of financial services such as credit, insurance, gold loans, and mobile recharges. It had planned to conduct its initial public offering (IPO) in the first quarter of this year, but it has been postponed due to market uncertainties. Sequoia Capital, Treeline Asia, Cisco Systems, American Express, and Bajaj Finance are among the existing investors that would sell a portion of their shares in the IPO, which Mobikwik wants to garner around Rs 1,900 crores. Employee stock options will make many Mobikwik employees wealthy as a result of the IPO. In the IPO, the company has set aside around 7% of its equity for ESOPs. Many of its employees are valued Rs 1 crore or more, with some even exceeding Rs 10 crore.

Kinara Capital, an Indian fintech firm, is planning to hire 700 more employees. It will hire for a variety of positions throughout its 125 branches, which are distributed across 90+ cities. There are openings at all levels, for both newcomers and seasoned professionals, and they will be filled by November 2022. Sales, collections, operations, credit risk, and internal quality audit (IQA) are all looking for qualified candidates. Human resources, information technology (IT), data science, engineering, data platform, business operations, finance & accounting, marketing, products & strategy, and more are all available at its Bengaluru head office. Kinara Capital is one of the few companies where women make up the majority of the management team. Because of the Company’s innovative inclusive culture, there is gender inclusion in every area. Employees with disabilities and members of the LGBTQ+ community are currently employed by the company. Kinara, which focuses on SMEs, also offers LEAP, a high-skill training programme for new employees to assist them get a head start in their careers. The six-month intensive training programme is paid and includes tough classroom instruction followed by hands-on field experience. It has already taught over 100 freshers for the corporate world in the last year. Some of those who have received training here have gone on to become excellent problem solvers and hub managers. “We are growing our team to support even more MSMEs, especially as we continue to expand in Tier 2 and Tier 3 geographies,” Hardika Shah, founder and CEO of Kinara Capital, stated, reiterating Kinara’s commitment to offering great customer service to underserved entrepreneurs. Our national hiring drive is with the intent to seek out professionals who wish to lead a purpose-driven life and make an impact on others by furthering our mission of financial inclusion.”

Air India employees living in government housing colonies in Delhi and Mumbai have been given until July 26, 2022 to evacuate their premises. The Air India order serves as a reminder to the personnel staying in the quarters that they must quit the premises as directed by the Air India Specific Alternative Mechanism (AISAM). In these two facilities, Air India, which is now controlled by the Tata Group, employs almost 1800 people. Following the acquisition by the Tata Group, the government will continue to keep Air India’s non-core assets, including the aforementioned housing colonies, in accordance with the disinvestment terms. Employee unions have spoken out against the proposal, threatening to take the matter to the High Court. Air India gave these employees six months to depart their residences, which were handed to them in lieu of a house rent allowance and are conveniently placed near the airport, in 2021. Despite the traffic snarls and severe rains that Mumbai is notorious for, the employees who live in these quarters in Mumbai confess that it is only because they live close to the airport that they are able to get to the airport on time for duty. Meanwhile, Air India is expanding its workforce under its new owners. On the 1st, 4th, 27th, and 8th of June, walk-in interviews for cabin crew will be held in Mumbai, Bengaluru, Kolkata, and Hyderabad, respectively.