Home >> Jobs >> New Guidelines To Generate 100K Jobs

MUMBAI: Do you have any qualifications or experience in poverty alleviation, environment conservation and management, gender empowerment or public health?

There’s good news for you and many other development professionals. Between now and 2020, India will need almost 100,000 people with these, and other development-related qualifications, to fill up new jobs that will be created.

How? According to the new Companies Act, from April 1, every company with a net worth of at least Rs. 500 crore, or annual revenues of above Rs. 1,000 crore or a net profit of more than Rs. 5 crore will have to spend at least 2% of their average net profits for the past three years on corporate social responsibility (CSR) activities.

Result: an additional Rs. 22,000 crore will flow into sectors such as education, healthcare, women and child welfare, etc. and companies and non-government organisations (NGOs) will need qualified people at all levels to manage the much larger social sector projects that this humungous sum will generate.

“This spending will also have a multiplier effect and generate many indirect jobs as well but we don’t have any estimate on numbers or sectors,” said Parul Soni, executive director and practice leader, development advisory services, EY, which has done extensive studies on the subject.

Many companies will have to increase their allocations for CSR. The Mahindra Group, for instance, which has been spending about 1% of its net profit on CSR activities since 2005, spent about Rs. 75 crore last year. “This will rise to about Rs. 175 crore next year,” said Rajeev Dubey, president, group HR, corporate services and aftermarket sector, M&M.

The Tata Group, on the other hand, spent over Rs. 1,000 crore on CSR over the last two years, and was by and large compliant with the 2% rule, said Mukund Rajan, member, group executive council and chief ethics officer, Tata Sons.

“This will be the new sunrise sector for job seekers,” said Nikhil Pant, chief programme executive, National Foundation for CSR, IICA.

Providing education for girls and underprivileged children, skills development and women and child healthcare, especially in far flung areas are high on the list of corporate philanthropists.

So, there will be many more jobs for teachers, health workers, doctors and volunteers as large sums of money are invested in new schools, health centres, potable water management schemes and rural sanitation projects, among others.

According to recruiters, a field officer can earn an average salary of around Rs. 3 lakh per year, junior and middle-level programme managers can earn Rs. 10 lakh while vice-president-level executives could be anywhere upwards of Rs. 50-60 lakh.

“I think this money can make a huge difference if companies synergise their skills and knowledge with those of non-profits who bring their understanding and experience of development processes,” said Rajan.

Firms have come together for maternal and child mortality projects. Analysts said more such pooling of resources are needed for CSR to have an impact.

“Let’s say, 13,000 out of the 16,000 affected companies, have just Rs. 50 lakh each to give. Individually `50 lakh will not go too far. We will see no major impact unless there is a pooling of resources,” said Noshir Dadrawala, CEO of Centre for Advancement of Philanthropy.

Many companies have now begun to evaluate their CSR strategies and are expected to redraw their plans (increasing spends, geographical and target areas etc) from the beginning of 2014-15, executives said.

And that can only make the future rosier for job seekers.

( A report in Hindustan Times)

the author

India CSR (indiacsr.in) is a news portal in the domain of CSR, live since 2009. India CSR welcomes your stories, comments on issues that interest you, feedback, comments from your side to make it more purposeful and resourceful, will carried in. indiacsr.in is designed, updated and maintained by CSR India Corporate Social Services Pvt Ltd. (CIN: U93000CT2012PTC000120). Contents available at indiacsr.in are non-fiction. Though all efforts have been made to verify the accuracy of the content on this website, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the indiacsr.in and/or source(s). Twiteer: https://twitter.com/INDIACSR. Find updates at https://www.facebook.com/indiacsrnetwork Statement, articles, views and contributions can be sent to editor@indiacsr.in.

  • Contact

    India CSR News Network

    CSR India Corporate Social Services Pvt Ltd

    CIN: U93000CT2012PTC000120

    Registered Office: House No.222, Krishna Vatika, Boirdadar, Raigarh - 496001 (Chhattisgarh) INDIA

    Mumbai: India CSR, 208, Sangeet Palaza, Marol Naka, Andheri East, Mumbai - 400059

    New Delhi: India CSR, M-65, Panther Lane, GK-1, New Delhi

    M: 91 (0) 99810 99555 (Rusen Kumar)

    E: editor@indiacsr.in (Only editorial)

    E: info@indiacsr.in (Only business proposal)

    W: www.indiacsr.in

  • About Us

    We welcome your feedback, comments, suggestions and ideas. We are also interested in finding new data sources, sponsors for our site and our partner sites, and organizations who would like to work with IndiaCSR to help change the world. The website has been founded by stalwarts from the industry and is growing steadily to become an inspiring network of business people working towards the common goal of sustainability. Mission: Our mission is to support practitioners and organizations in building responsible and sustainable business in India and in this way to contribute to sustainable development of societies at large.
  • Privacy Policy

    What is this Privacy Policy for?

    This privacy policy is for this website and served by IndiaCSR and governs the privacy of its users who choose to use it. The policy sets out the different areas where user privacy is concerned and outlines the obligations & requirements of the users, the website and website owners. Furthermore the way this website processes, stores and protects user data and information will also be detailed within this policy.

    read more..

  • Partner with us

    Whether it’s through our B2B or CSR partnership programs, partnering with India CSR can help you to increase business network, build your brand, and expand your reach worldwide. India CSR has always believed in the advancement of information technology & communication, learning, and education, playing a key role within those knowledge communities for generations.

    read more..

Top