Question 1 · 10 marks · 176 words written
Opening · a figure
According to Periodic Labour Force survey, only 10-11% of Indians are employeed in fixed-term employment. This presents a situation of thrift towards gig economy.
Fixed term employment where employees and employers enter into an agreement for specific period (unless certain extreme conditions arise) of employment. It address specific issues of employers and employees as below -
Body · points
Employers → Security of labour force → Secure human capital → Less prone to labour market dynamics
Employees → Get security of income → Immune from spontaneous firing → Independence of tenure of job regardless of company's performance.
But fixed term employment also generate some concerns
→ Burden of social security and welfare benefits → Burden on ex-chequer regarding huge salary load → Frequent strikes, protests by the fixed term employees → Promote rigidity and company forced to keep degraded human capital too. → Absence of fear of firing affect the quality of performance too.
Close · a way forward
Thus, fixed term employment, though having concerns, yet is essential for overall development of workers. Concerns need to be built relaxed by cooperation and addressed.