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Hans India
4 days ago
- Business
- Hans India
Recognising informal & experiential learning key to boost India's skill landscape: Minister
New Delhi: The skills landscape in India is driven by demand and market, said Jayant Chaudhary, Minister of State, for Education, stressing the need to recognise informal and experiential learning. Unveiling a report titled 'Skills for the Future: Transforming India's Workforce Landscape', developed by the Institute for Competitiveness, Chaudhary noted that the skill landscape must address the evolving needs of industry and workforce. The report, based on the data available in the public domain, presents a detailed examination of the skills landscape in India. It focuses on educational attainment, occupational distribution, and attainment of technical and vocational education and training of the workforce (TVET). 'Skilling is to be understood not merely as a supply-side intervention, but as a demand-driven, market-aligned, and outcome-oriented ecosystem that addresses the evolving needs of industry and the workforce. We must deepen pathways between education, vocational training and industry this includes recognise informal and experiential learning,' Chaudhary said. Chaudhary also suggested that a robust employability index will help in monitoring the impact of education and skilling on the employment prospects of youth in the evolving economic and technological environment. Atul Kumar Tiwari, Secretary, MSDE, said that skilling is an area of academic inquiry. He also stressed the need for creating a corpus of literature around skilling with data and evidence and also urged further deep diving into structural changes around skilling, education, and work continuum. Meanwhile, the report analysed India's skills landscape against the backdrop of the emerging knowledge-driven global economy. Data analysis based on Periodic Labour Force Survey (PLFS) shows that in 2023-24, 88 per cent of India's workforce is in low-competency occupations, while only 10-12 per cent are in high-competency roles. Further, using PLFS (2023-24) data the report identified five sectors -- IT and ITeS, textile and apparel, electronics, healthcare and life sciences, and beauty and wellness -- which accounted for over 66 per cent of vocational training in India. The report also recommended multifaceted and targeted interventions to develop a resilient and future-ready workforce. It urged for a dedicated, standardised data collection system to generate estimates about skill requirements and enable targeted evidence-based reforms and policies.
ABC News
09-06-2025
- Business
- ABC News
Indigenous employment rules dropped from two-thirds of Commonwealth contracts
Indigenous employment rules have been dropped in two-thirds of Commonwealth contracts, meaning $70 billion worth of contracts did not have to hire a minimum number of Indigenous people or use Indigenous businesses. The Audit Office found departments had exempted two-thirds of recorded contracts since 2016, or about 1,475 contracts, from requirements for at least 3 per cent of the workforce to be Indigenous, or that amount of components sourced from Indigenous-owned businesses. Auditors said the exemptions were given "often for reasons that [were] unclear". But even among the contracts that were subject to Indigenous participation rules, just a fifth were actually assessed for compliance — with more than a quarter found to be non-compliant. Commonwealth contracts are subject to Indigenous participation rules if they exceed $7.5 million in value and more than half of that value is spent in a nominated industry in Australia — such as in construction, healthcare, industrial cleaning or wildlife management. Auditors said contract exemptions were rising, and while some were legitimate exemptions, others were given with little explanation. "The inappropriate use of exemptions impedes achievement of the Indigenous Procurement Policy's objectives," auditors said. "Systems have been set up to allow potentially invalid exemptions." Of those contracts that were exempted from Indigenous participation rules, a third listed their reason for exemption under the category "other". Auditors were told by the responsible agency, the National Indigenous Australians Agency, that contracts were sometimes exempted simply because they were "in practice non-compliant" with the rules. For example, between July 2016 and September last year $35 billion worth of Defence Department contracts were exempted — with more than half of those contracts listed as "other" as the reason for exemption. But even among the 870 contracts where Indigenous participation rules were applied, the NIAA only assessed compliance of a fifth of those. Of those assessed, 28 per cent, or 45 contracts, were found not to have complied. The agency had also not updated its guidance to contractors on navigating Indigenous participation rules since July 2020, despite reporting requirements changing in that time. "A commitment to publish guidance tailored for Indigenous businesses was not met," the auditors found. In a response to auditors, the National Indigenous Australians Agency said prior to the introduction of minimum requirements a decade ago, Indigenous businesses secured limited business from the Commonwealth, and the policy had "significantly" increased the rate of purchasing from Indigenous businesses. The agency agreed to review its use of the "other" category for allowing exemptions, but argued it was the responsibility of Commonwealth departments to ensure each met their own obligations.
CBC
22-05-2025
- Business
- CBC
WSIB workers in Windsor, Ont., join province-wide strike
WSIB workers lined Tecumseh Road in Windsor Thursday as part of a province-wide strike following a breakdown in talks with their employer.
Arabian Business
20-05-2025
- Business
- Arabian Business
Dubai Science Park
With such a solid foundation already, there are two areas in which we must continue to focus: upskilling talent and innovation
Yahoo
19-05-2025
- Business
- Yahoo
Employees struggle financially making it paycheck to paycheck, while employers fall short in meeting expectations for support
New Prudential Benefits & Beyond study reveals everyday financial stresses as top employee concerns, yet only about one-third of employers believe their workplace benefits ease daily money pressures, focusing instead on retirement benefits NEWARK, N.J., May 12, 2025--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU) released today its annual Benefits & Beyond study that reveals day-to-day financial stress is a leading concern for employees. Employees are raising their expectations for robust workplace benefits and believe their employers should play a larger role in helping them alleviate that stress. Employers agree, yet many aren't keeping up with those demands, instead focusing more on longer-term financial support. Key findings from the first installment of Prudential's 2025 Benefits & Beyond study, "New Workforce Expectations: How evolving needs are reshaping the workplace," include: Many employers recognize that workplace benefits aren't adequately addressing employees' day-to-day stress. While 75% of employers believe their benefits help with retirement savings, only 35% believe they help with immediate financial stresses like everyday expenses. Employees' top challenges are saving for retirement (45%), cost of everyday goods (44%), cost of housing (29%) and making it paycheck to paycheck (26%). The study's findings are clear: When it comes to workplace benefits, there is a disconnect on what companies offer and what employees actually need — now and in the future. The study finds that 86% of employers think their benefits are modern, while only 59% of employees agree. With a backdrop of economic uncertainty, shifting expectations and evolving social norms, today's employees expect holistic support from employers to help solve the challenges they face. They seek modern benefits that offer flexibility and financial support, and prioritize their overall well-being, according to Michael Estep, president of Prudential Group Insurance. Beyond pay, employees want their employers to provide modern benefits that reflect the real needs people are facing today. That includes benefits that help people balance their personal lives and address what happens outside of work, with employees considering flexible benefits like a four-day workweek (41%) and "pawternity" leave (23%) as optimal. "Employees want benefits that go beyond traditional coverage and more completely address how they live and work," said Estep. "The workplace is at a tipping point, and there's so much at stake for employers. When benefits are aligned with your company's values and workforce needs, they become a powerful driver of culture, business performance and long-term growth." The study shows there's a gap between employers' perceptions and the reality of how employees view modern benefits. While almost all employers (97%) say well-being is a priority, only 7 out of 10 employees (69%) agree their employers feel this way. The research identifies opportunities for employers to help solve employee challenges, including retirement savings, making it paycheck to paycheck, job security and flexible work arrangements. "Effective communication and awareness are needed to better demonstrate commitment to employee well-being and highlight how benefits can meet each person's unique needs," Estep added. Click here to view and download the study. The research was conducted with 2,946 full-time employees and 750 employers in the U.S. via national online surveys in January and February 2025. Visit for more information on Prudential Group Insurance's portfolio of workplace benefits, absence management and risk mitigation solutions. ABOUT PRUDENTIAL Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of Dec. 31, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information, please visit Prudential Group Insurance manufactures and distributes a full range of group life, long-term and short-term disability, and corporate and trust-owned life insurance in the U.S. to institutional clients primarily for use within employee and membership benefits plans. The business also sells critical illness, accidental death and dismemberment, and other ancillary coverages. In addition, the business provides plan administrative services in connection with its insurance coverages, and administrative services for employee-paid and unpaid leave including FMLA, ADA and PFL. 1086500-00001-00 View source version on Contacts MEDIA Marisa Amador 973-802-8969 Sign in to access your portfolio
