Business Mantra News
In a view to transform the company’s regulatory environment and to push the agenda of ease of doing business, the Union Government has planned to bring fixed term contract hiring schemes in different fields. It will make the companies more flexible in hiring and dismissing employees according to their business requirements.
The Labour Ministry through a notification, has proposed hiring employees for fixed terms. This proposal will enable companies to hire workers for short term assignments. Presently, short term employment is allowed only in Garment Manufacturing Sector.
The Government has taken this move to liberalize labour policies. This policy of short term hiring will ease the process of ‘hire and fire’ as per the need of the company and it will provide relaxation in strict retrenchment terms and conditions and the companies may get flexibility to ‘hire and fire’.
The Government is extending fixed term labour contract rules to other sectors also which was earlier applicable to Textile and Garment Manufacturing Sector.
The improvement in ease of doing business will be extremely relevant as it will facilitate business growth within the country.