“Future of jobs: Modernised labour market require social security”

News-Pandemic has led to dramatic increase in employees working remotely particularly in white collar jobs. 

What are the other changes to the work models? 

With the normalisation of work from home model, companies have also started providing work contracts and complementarity flexibilities. It means they are offering different combinations of flexi-work and financial security and medical benefits s per the combination. For instance, HUL has launched ‘U-Work’ and ‘Open2U’ offers to employees and gig workers respectively. 

What would be the implications of new work models? 

This flexible model or flexi-curity is the key to the talent pool, which is bigger than the office workers pool, looking for an office job on 40-40-40 model.  

The office model was also blamed for failure to attract investment away from China. 

Way forward 

While the new models can be a solution to unemployment problem, but India needs to expand specialised higher education. Also, only good economic growth can increase good jobs.  

 How Low social security affects growth in India 

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India unlike other developed countries like USA does not has major social security provisions. This prevents Corporates from experimenting with various work culture models which ultimately hampers innovation. India has been long stuck into the 40-40-40 model, its time that there are changes to this. All this should happen keeping in mind the social security of workers at its core. 

Source-This post is based on article “Future of jobs: Modernised labour market require social security” Published in The Times of India on 10 Dec 2021