Financial Daily from THE HINDU group of publications
Wednesday, Sep 29, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 29, 2004 |
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Industry & Economy
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Labour Reforms Chidambaram for flexibility in labour markets Our Bureau
New Delhi , Sept. 28 THE Finance Minister, Mr P Chidambaram, on Tuesday voiced support for introducing "flexibility" in the labour markets, stating that employers needed this tool to manage downturns in business cycles. Inaugurating India's first temporary staffing network, TLNet, put in place by TeamLease Services, Mr Chidambaram said that the idea of temporary recruitment or temporary layoff was still considered unacceptable in India. "Technology is driving change in business. In a world of such fast-changing technology and markets, no employer can ensure lifetime employment opportunity nor would many employees like to spend their lifetime under one employer," Mr Chidambaram said. He added that the younger generation, in particular, was looking for different kinds of jobs and is constantly learning and acquiring new skills to become more employable. "While employees are making themselves more flexible, its time that employers have flexibility." TeamLease plans to use TLNet to bring together employers who are looking for temporary employees and employees looking for temporary jobs. It offers real-time matching of temporary job seekers with employers across a cross-section of functions, industries and locations. It will provide a workflow engine that automates the temporary lifecycle for employers with elements like client requisition, candidate sourcing, screening, matching and selection. Company officials said that TLNet would provide service over 25 industry sectors including IT, BPO, finance, manufacturing and FMCG. Team Lease, promoted by Mr Ashok Reddy, an entrepreneur, has 9,500 associates over 204 locations across India. The inaugural function was attended by the Union Labour Minister, Mr Sis Ram Ola, and the Union Information and Broadcasting Minister, Mr Jaipal Reddy.
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