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Updated: Dec 26 2012, 08:52am hrs
Job generation falls 21% between Jan 1 and Dec 15

Job generation during 2012 saw a 21% decline across various sectors of the economy between January and mid-December, according to an Assocham analysis. "A total of over 5.3 lakh jobs were generated during the aforesaid period across India over 2.8 lakh jobs in first half of the year and over 2.4 lakh jobs in July-December 15, says a study titled Job Trends Across India in 2012 released by the industry body Associated Chambers of Commerce and Industry of India (Assocham). Information technology (IT) topped the group with over 2.1 lakh jobs generated in the sector between January-December 15, 2012 across the country as compared to the same period of last year. Academics and education ranked second with over 34,500 jobs generated in the sector followed by insurance (over 27,100 jobs) and banking (24,500). The Assocham Research Bureau (ARB) sourced its inputs primarily from data tracked on a daily basis for vacancies posted by about 4,000 companies via job portals like timesjobs.com, naukri.com, monster.com and shine.com and advertisements offering job opportunities published in national and regional newspapers for about 56 cities and 32 sectors.

Reliance Life to hire 3,000 more for new sales model

Leading private sector insurer Reliance Life said on Tuesday it has hired 2,500 persons under a new distribution model, wherein insurance agents would get fixed stipend and variable commission, while 3,000 more people will be recruited during the current fiscal. The hiring plans were announced by Reliance Life Insurance Company (RLIC), part of Anil Ambani-led Reliance Group's financial services arm Reliance Capital Ltd, alongwith the launch of 'Career Agency', a new distribution channel aimed at enhancing the company's reach and footprints across the country. Under the new channel, RLIC plans to hire 5,500 career agents across 220 branches by end of 2012-13. Out of this, RLIC has already recruited around 2,500 career agents and deputed them at over 150 branches across the country and will hire about 3,000 career agents in the next three months. RLIC said it is a first-of-its-kind distribution channel by any private insurer in the country that is based on stipend and variable commission pay-out structure. "The main aim of Career Agency distribution format is to support new recruits during the learning phase so that they can concentrate on training and learning the ropes rather than being under the pressure of generating business to earn commission from the very first instance," RLIC president and executive director Malay Ghosh said.