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India Workforce

Plum Report Reveals Healthcare Crisis in Corporate India: High Costs, Employee Burden, and Calls for Comprehensive Solutions

News on HR ArdorComm Media Group Plum Report Reveals Healthcare Crisis in Corporate India: High Costs, Employee Burden, and Calls for Comprehensive Solutions

The insurtech company Plum has released a comprehensive health report that includes alarming statistics about the state of healthcare in India’s corporate sector. The study, titled “Health Report of Corporate India 2023,” reveals a startling truth: India has one of the highest rates of medical inflation in Asia, with rates rising to a startling 14%. The financial burden on employees is apparent, as 71 percent of them personally pay for their medical expenses, a burden made worse by the rising cost of healthcare. According to a Niti Aayog report, just 15% of India’s growing workforce—which is expected to increase from 522 million in 2022 to an estimated 569 million by 2030—receives health insurance support from their employers. Remarkably, more than 90 million people are disproportionately affected because healthcare costs account for more than ten percent of their overall spending. Moreover, only 12% of businesses provide telehealth support, indicating a sizable gap in full-scope healthcare benefits. The survey also reveals alarming health behaviors among workers, with approximately 59% forgoing yearly physicals and an astounding 90% ignoring routine medical check-ups to keep an eye on their well-being. These numbers raise concerns about the possible long-term effects on people’s general health and well-being. The importance of prioritizing employee health was emphasized by Saurabh Arora, co-founder and CTO of Plum, who stated, “An average person spends 90,000 hours working. That’s almost a third of their life. Employee health should be a top priority for organisations, not only from a humanitarian perspective but also as a strategic investment in their workforce. Hence, just health insurance is not enough – companies should adopt comprehensive healthcare benefits that accommodate insurance, primary, and preventive care.” The well-being of the labor force in India depends on resolving these healthcare issues as the country’s workforce grows.

Airbus to Ramp Up Workforce in India with 5,000 New Employees

News on HR 9th Sept 2023 ArdorComm Media Group Airbus to Ramp Up Workforce in India with 5,000 New Employees

Airbus, the renowned international aerospace firm, has unveiled plans to bolster its workforce in India, with a target of hiring an additional 2,000 engineers in the coming years. This strategic move aims to increase the company’s total headcount in India to an impressive 5,000 employees. Airbus has solidified this commitment through the signing of a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya (GSV) in Vadodara, wherein a specialized engineering program tailored for the aerospace sector will be established. The partnership with Gati Shakti Vishwavidyalaya is poised to cultivate a robust pool of highly trained professionals, primed to meet the burgeoning demands within the thriving aerospace industry. Airbus views India not only as a significant market but also as a crucial hub for talent. The company places paramount importance on nurturing the aerospace ecosystem in India and recognizes the pivotal role of investing in human capital development. Currently, Airbus boasts over 3,000 engineers within its design and digital centres, and by the year 2025, this number is anticipated to surge past the 5,000 mark. The MoU was formalized in the presence of Railway Minister Ashwini Vaishnaw. Airbus, a globally renowned aerospace giant, is renowned for its design, manufacturing, and marketing of commercial and military aircraft, including the iconic A320, A330, and A380 series. The company’s scope extends to the production of space-related equipment and boasts a global presence with subsidiaries and manufacturing facilities spread across various nations.