Year-ender quote by Nilesh Dungarwal, Co-founder and COO, WorkIndia
Nilesh Dungarwal, Co-founder and COO, WorkIndia
“It has been observed that the blue-collar sector has progressed considerably in the year 2022. The sector has been more categorized with the help of advanced tech through extensive digitization and machine learning. It is noteworthy, that less than 15% of the workforce earns between Rs 20,000 and Rs 40,000 per month, indicating that the vast majority of the country’s population earns less than a livable wage. However, large corporations/MNCs are now taking steps to improve conditions for their blue-collar workforce. They are providing them with additional benefits such as health insurance, which were previously only available to white-collar workers.
Companies will continue to prioritize retaining talent, and many will choose to raise wages and benefits to do so. Employee health and its implications for businesses will extend beyond Covid to a potentially severe flu season in 2023. We all know that India has a large and vibrant young workforce that helps to build the country. When it comes to employee benefits and compensation, their demands differ from those of their predecessors. While companies are seeking agile tech solutions for the efficient management of the sector, hiring in blue-collar segment has been very muddled and disorganized. As India strives to become a $5 trillion economy by 2025, the demand for the blue-collar sector is expanding. However, we can say supply chain disruptions will continue to impact blue-collar industries and require the attention of employers.”