Weekly Top Articles & Industry Trends For Staffing Leaders
A collection of this week's most important news articles, market trends, and blog entries will give you an inside look at what's going on in the staffing and recruiting space.
Of the total 29 major industrial groups covered under the Annual Survey of Industries (ASI) – ‘food products’, which involves preserving and processing of meat, fish, crustaceans, fruits, vegetables, and dairy products among others, has the highest number of operational factories (40,508) and engaged most number of people (2.1 million) in the organised manufacturing sector in the financial year 2022-2023 (FY23), showed findings from the latest ASI results released by the National Statistical Organisation (NSO).
Tata Group is planning to generate 5,00,000 manufacturing jobs in the next five years, news agency PTI reported on October 15 quoting the group's chairman N Chandrasekaran. The jobs will be in various sectors, including semiconductors, electric vehicles, batteries and related industries, Chandrasekaran was quoted by PTI as saying.
India's female labour force participation rate has increased at a faster pace among South Asian countries between 2019 and 2023. The country recorded an increase of 23.4%, according to an analysis of data from the World Bank. Bhutan follows with a growth of 6.3%, followed by Pakistan (4.7%), Maldives (1.7%), Nepal (1.1%) and Bangladesh (0.3%). Sri Lanka, on the other hand, experienced a decline of 5.9%.
Ratan Tata, an industrialist revered by so many and Chairman Emeritus of the Tata Group, passed away on October 9 at the age of 86 but leaves behind a legacy that has transformed education in India forever for generations to come. His great philanthropic contributions, especially in the education sector, have empowered thousands of students and laid solid groundwork for sustainable development in numerous communities.
I was recently in South Africa on a partner mission with UNICEF. I met a young man, Keagan, who told me he had two choices in life – “pick up a book or pick up a gun”. It is not an easy time for young people starting their careers. Globally, nearly 65 million youth are unemployed. The pandemic impacted young people hardest – as the last ones in, they were the first ones out. Since COVID-19, youth unemployment rates remain 3.5 times higher than those of adults and we are still recovering the employment deficit.
Singapore's National Trades Union Congress (NTUC) has launched the NTUC Labour Alliance co-laB (LAB). This partnership of 50 members — comprising labour experts, academics, practitioners, and researchers spanning renowned institutions and universities — aims to transform insights to impact by conducting labour research and examining current and emerging workforce trends and challenges to improve the lives and livelihoods of workers.
Recommended by LinkedIn
In news that should be music to the ears of employees, Singapore’s National Wages Council (NWC) has urged employers to reward employees with “fair and sustainable” wage increases. Employers who have done well should reward their employees with built-in wage increases and variable payments, while those who have not done well may exercise wage restraint, with management leading by example, said NWC.
For HR professionals and business owners in Singapore, staying on top of digital solutions is crucial for efficient operations. One tool that's become indispensable is Singpass – Singapore's national digital identity system. Singpass (Singapore Personal Access) is the national digital identity for Singapore citizens and residents.
And while the majority of employees are not exaggerating about their productivity, according to a Workhuman report, 48% of managers say that faking productivity is a problem on their team. But the call may be coming inside the house: 37% of managers surveyed in the report admitted to faking their productivity, compared to 32% of non-manager employees. Even more C-suite executives admit to participating in “fauxductivity,” with 38% saying they do.
The Acumont team is here to share this week's industry insights with you. Staffing leaders can make better decisions by reading this weekly digest, which helps them understand the human capital issues that impact recruiting and staffing workforces as well as the economic trends that affect their businesses.
Subscribe to our newsletter to receive a weekly summary every Wednesday.
Acumont Solutions is a global staffing services provider and offers a wide range of services, including talent acquisition services, international recruitment, executive search, startup hiring, recruitment process outsourcing, and contract staffing.