Jobs

Why temp-jobs leader TeamLease is entering the training business

TeamLease is the market leader in temporary jobs and flexi hiring, but it has a problem: thin margins. To buff that up, it needs to pursue more profitable businesses. Training India’s massive army of job-seeking youth fits the bill.
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18 Sep 2018 0 comment
Manish Sabharwal, co-founder and executive chairman, TeamLease; BCCL
An engineer wrote a six-word story about his college days. “They taught code. I wrote poetry.” It crushingly summarises what many young Indians go through in their search for education and jobs. There are over 300 million Indians between 15 and 34 years, the so-called ‘demographic dividend’ of the country. It’s now a truism that this dividend will pay only if they their own, small, local businesses that create jobs, instead of seeking jobs. Sabharwal disagrees. “India has too many dwarf enterprises which will never scale. Of 63 million enterprises, only 6.7 million pay indirect taxes,” he says. “Only 18,500 companies have paid up capital of more than INR10 crore. We don’t need more self-employment. We need to provide people with more productive work.”
An engineer wrote a six-word story about his college days. “They taught code. I wrote poetry.” It crushingly summarises what many young Indians go through in their search for education and jobs. There are over 300 million Indians between 15 and 34 years, the so-called ‘demographic dividend’ of the country. It’s now a truism that this dividend will pay only if they their own, small, local businesses that create jobs, instead of seeking jobs. Sabharwal disagrees. “India has too many dwarf enterprises which will never scale. Of 63 million enterprises, only 6.7 million pay indirect taxes,” he says. “Only 18,500 companies have paid up capital of more than INR10 crore. We don’t need more self-employment. We need to provide people with more productive work.”

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