21 Lakh Job Openings in the Next 12 Months: BetterPlace Report

BetterPlace, India’s largest tech platform for managing end-to-end lifecycle of blue-collar workforce, has launched its first ever comprehensive report on blue collar jobs data in India. The report, which forecasts 21 lakh new job openings to be created in the next 12 months, was launched at Aseem, a full day blue collar economy focused industry conclave organized by BetterPlace. Key highlights of the report include:

• Emergence of gig economy in a big way. The report indicates that there is migration beginning to happen from traditional blue-collar jobs such as IFM, security etc to gig based jobs as a result of increased flexibility, higher salaries with attractive incentive structures and higher take home due to minimal deductions.
• The BetterPlace report predicts 21 lakh job openings in the next 12 months. Of this, 14 lakh are forecasted in the gig economy
• More than 8 lakh jobs to be opened up in logistics sector, followed by on demand and other transport linked drivers (Around 6 lakhs) and security guards (3,50,000 approx)
• Southern states — Karnataka, TN, Andhra, Kerala, Telangana — will generate 40% of the blue collar jobs in India
• Maharashtra to generate more than 4 lakh jobs in the next one year and is on top of the table followed by Karnataka which is expected to generate over 3 lakh jobs in the blue collar vertical
• Among tier 1 cities, Bangalore is the largest job creator with close to 2,35,000 jobs closely followed by Delhi at 2,25,000 jobs approx. Kolkata scores the lowest with close to 24,000 blue collar jobs in the city but growing well year on year.
• Hyderabad and Chennai fast emerging as jobs centres with 54,052 and 93,222 blue collar jobs respectively.

Pravin Agarwala, Co-founder CEO, BetterPlace says, “At BetterPlace, we have been trying to use technology as a lever to help blue collar workers move up the ladder and realize their aspirations. The data for this report, which has been collected from over 11 lakh profiles over the past year points to migration trends – where are they coming from? Where are they going for seeking jobs and how salaries have been steadily increasing.”

The Company has also announced the launch of BetterPlace Doctor and financial services. BetterPlace has rolled out fully automated payroll processing, which will help the companies to bring down attendance and salary management from 10 – 15 days to a few hours resulting in on time salary payment to the employees. BetterPlace Account, an app, can also be downloaded into the employees’ phone, which will provide them with Internet banking features like IMPS, NEFT, check balance and funds transfer. Currently, blue-collar workers are given a prepaid card by their employers in which salary is loaded every month. The cost of transacting through such cards is quite high even for basic services like checking balance or withdrawing from ATMs. With this app, such services will be made available free of cost to the employees.

Saurabh Tandon, Co-founder & COO, BetterPlace, says, “The idea is to build their credit history overtime so that formal financial access can be opened up for this population which is currently not being served at all. We are also in the process of providing them formal credit access, which is one of the top 3 aspirations as per our report, through NBFC partners.”