India is a young country with half of its population below the age of 25. Every year, around 13 million youngsters join the Indian workforce, but the economic development in the country has not been able to generate enough opportunities to employ the growing workforce effectively.
This is a serious concern for a nation which is on the cusp of the demographic dividend. If appropriate actions are not taken, this demographic dividend can turn out to be a demographic disaster. Economic contrast is one of the fundamental barriers to realize the dream of a strong India. Inequality in the society is one of the major roadblocks to building a better nation. According to the latest world inequality report 2018, the top 1% earners corner a massive 22% of the national wealth, while the top 10% corners 56% of the national wealth.
To overcome economic inequality in Indian society, the government needs to increase its social spending. Over the years it has been found that increasing public expenditure on education, health and social protection has helped to tame the rising inequality for poor and rich country alike.
In India, the Tax to GDP ratio is barely 16.7% which is below the global average and discourages social spending. The government needs to plug the leakages in the Indian tax system to improve Tax to GDP ratio, which will provide the required economic muscle to the state to increase social good.Tata Motors give equal importance to both our blue and white collar employees. As for our blue collar workforce, we have enforced a National Employability Enhancement Mission (NEEM) that trains and enhances their existing knowledge. We also assess their improvement in these programs through a performance index and knowledge index and conduct programs on vehicle integration which are approved by Govt. (DGTT). Our white collar employees on the other hand are appointed a Chief Learning Officer who organizes various sessions with managers on strategy and technology. Here, the Learning Management System (LMS) platform places emphasis on various leadership and techno-functional skill development programs for leaders. Furthermore, a program called ‘i Teach’ provides framework and practice to enhance the training capabilities of employees who are internal Subject Matter Experts but need support on facilitation skills. Additionally, in order to upskill the BHRs and ERs, a capability building program has also been put in place, which enhances the core functional capability and also provides an outside-in perspective from other organizations.
Furthermore, we have committed ourselves to developing our employees’ functional, managerial and leadership capabilities by preparing them to adapt to fast-changing external environment. We established Tata Motors Academy to address the development of various segments of our workforce through a structured approach. Our motive behind the inception of this academy was to strengthen knowledge, skills and expertise of our employees with an in-depth approach and developing general management and leadership skills. Tata Motors Academy also provides executive education for B. Tech, M. Tech, and Executive MBA degree.