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- A new study released by the International Labour Organisation in collaboration with the International Organisation of Employers has revealed recruiting people with relevant skills is a major challenge for businesses in India.
- The report has revealed that 66% of Indian businesses look for quite different skills in new recruits than that they looked for 3 years back. The major reasons behind low employability of graduates is backdated education curriculum which do not match industrial needs. Further, automation has emerged as a new challenge which has threatened the informal sector.
- Globally, 60% of employers have opined that new graduates are not adequately prepared for current work. The report has further noted that by 2020 there might be a global shortage of 38-40 million highly skilled workers. However, there would be a potential surplus of 90-95 million low skilled workers. This imbalance is likely to adversely affect both developed and developing countries.
- The International Labour Organization (ILO) is the United Nations agency for the world of work. The functions of ILO include: a) setting international labour standards, b) promoting rights at work and encouraging decent employment opportunities, c) enhancing of social protection for workers and d) strengthening of dialogue on work-related issues.
- International Organization of Employers (IOE) is the largest network of private sector in the world. It represents the interests of business in the labour & social policy fields.
