Solutions must focus on understanding aspirations, industry requirements and standardization across the skill-development value chain

Coupled with a continual increase in voluntary unemployment, the International Labour Organisation expects unemployment in India to be higher in 2018. In a country where 65% of the population is below 35 years, unemployment, especially among youth, can limit the nation’s ability to reap the much-hyped demographic dividend. Recognizing this challenge, a wide range of stakeholders, including the government, companies, civil society organizations, and for-profit enterprises are working either independently or in cohesion to enhance youth employability.

A 2017 Intellecap study, of more than 80 programmes and organizations engaged in youth skilling in India, found that currently four models are used for supporting youth employability in the country. The first model, or the self-employment model, works on the rationale that if youth are trained in a particular skill, they will have the capacity to become micro entrepreneurs. The second model, or the employer-led model, trains youth in specific skills relevant to an enterprise and then absorbs the youth into their own value chain. The third, the placement-led model, provides training to youth and also established linkages with potential employers. Fourth, the market linkage model provides end-to-end support to self-employed youth, assisting them in earning better incomes. The government has also undertaken a structured approach via the establishment of the ministry of skill development and employment and the Pradhan Mantri Kaushal Vikas Yojana.

PAYBACK appoints Rijish Raghavan as its new COO, Rentsher appoints Anubha Verma as its CTO, Intellecap appoints Vikas Bali as the new CEO, Travelur.com names Srinivas Rapthadu to its advisory board, and NiYO appoints Vineet Sethi as new Chief Marketing Officer.

Below is a list of new hiring updates that happened in the ecosystem recently. Read a brief description about all of them:

PAYBACK India Announces Appointment of New COO

PAYBACK, India’s multi-brand loyalty program has announced the appointment of Rijish Raghavan as its new Chief Operating Officer (COO) to oversee PAYBACK’s India operations. Rijish will continue to lead Business Development & Partner Management portfolios, while taking on additional responsibilities that would encompass Business Intelligence and Compliance.

Rijish has over two decades of experience in leadership roles across industries. He believes in taking the organisation to the next level with expansion across new service categories and customer segments.

Prior to PAYBACK, he has worked at renowned companies like American Express and Cox & Kings. He has been instrumental in leading business development and driving growth for PAYBACK in the country for last four years. He holds a Post Graduate Diploma in Business Management from Xavier’s Institute of Management and has a deep understanding of marketing, analytics and technology functions.

Advisory services firm Intellecap, which is part of the impact investment-focused Aavishkaar-Intellecap Group, has announced the appointment of Vikas Bali as its new chief executive officer.

Before this, Bali was a managing director leading Intellecap’s global consulting and research business.

He replaces Nisha Dutt, who served as CEO since May 2015.

Intellecap said in a statement that Bali will be responsible for setting the strategic direction of the company across businesses and geographies.

“Vikas (Bali) brings with him diverse expertise and is the ideal choice to provide leadership and guidance to the young and passionate intellectual capital with us at Intellecap,” said Vineet Rai, founder, Aavishkaar-Intellecap Group.

Bali had earlier worked with Accenture Strategy, part of global professional services company Accenture, leading the products vertical including automotive, consumer goods, life sciences and retail businesses. His previous assignments also include stints at Tata Sky, DEN Networks, AT Kearney and Andersen consulting.