50 million job losses are estimated from different sectors in India by the end of this financial year.
Mumbai, July 17, 2020: Mumbai’s very own Diversity & Inclusion consulting venture, Zetta Women, a dedicated a platform for women on a career break, the LGBT Community & the differently-abled people to help them return to the workforce after a career break or job loss has announced a specialized 5 months recruitment and entrepreneurship drive for the next 5 months for both men and women candidates till 30th Nov 2020.
The recruitment drive is for the candidates who want to return to the workforce, while the entrepreneurship process comes under the special program- ZWAP (Zetta Women Associate Programme) which is specially designed for those individuals who would like to enter into entrepreneurship, after years of experience in different domains. ZWAP members being independent will work through an 80:20 partnership model under the banner of Zetta Women across India. ZWAP aims to create as many entrepreneurs who can earn for themselves irrespective of gender, caste, etc.
The current situation has affected the world in many ways, out of which loss of employment is considered as the most severe and immediate impact of the COVID-19 crises. We are staring at 50 million job losses from different sectors in India by the end of this financial year. The CRISIL report titled ‘Five ‘forecasts that the first quarter of the fiscal year 2021 will suffer a massive contraction of 25 percent, with the GDP for the entire year falling off by five percent. More than 60% of those job losses were experienced by women, who lost more jobs than men in most sectors impacted by eliminated positions, according to a report from the Institute for Women’s Policy Research. Over 122 million people in India lost their jobs in April, according to estimates from the Centre for Monitoring Indian Economy. Around 75% of them were small traders and wage laborers. 18 million business-persons (salaried class) are estimated to have lost employment in April 2020 and more are expected in the months to come. The average count of entrepreneurs was 78 million in 2019-20. This fell to 60 million in April 2020.
Commenting on the announcement, Dr Saurav Das, Founder & CEO – Zetta Women said, “We wish to commemorate the completion of our 1st year by standing with the industry and helping all those who have lost their jobs due to the pandemic by not charging the industry any fee for the recruitment. People have lost their jobs and this is as much a catastrophe as the spread of the virus and professionally we must reach out and do what we can do best.”
He further added “ZWAP as a concept is unique as it generates more and more employment and financial independence by people who have lost their job. There are certain sectors that are still hiring and through the ZWAP Associates, we work with such organizations so that each associate earns a decent amount of money which may be more than their last drawn salary. ZWAP agreements are legally executed to safeguard the interests of all stakeholders.”
Understanding the gravity of the situation, one of the biggest associate of Zetta Women, Krypton Global Investments, Mona Jalota said, “Saurav and Zetta Women’ team is doing an amazing philanthropic job by creating more and more opportunities for women who want to return to work and in the light of job crisis during this pandemic, Zetta’s team has opened the doors for men as well owing to their social responsibility by not charging a penny from the hiring companies either. Krypton Global Investment team is totally in support of the recruitment drive and looking forward to hiring potential candidates through Zetta”.
By and large, the brunt is more on urban salaried employees given their liabilities like home loans, tuition fees, car loan, lifestyle expenses, family commitments, etc. If we look at the numbers, it is the young generation in their early 30s who have had jobs till March 2020 but are now jobless and ready to take up any kind of job. There are instances across domains: print and electronic media, hospitality, logistics, real estate, automobile, film and television, entertainment, sports, retail, and a few other sectors.
Corporate Comm India (CCI Newswire)
