A huge chunk of the migrant population, having lost their jobs, have moved back home or are living a very difficult existence right now. This is reflected in the decline in domestic remittances, which from a monthly run rate of ₹1500-₹2000 crore for PayNearby, and approximately ₹10000 crores for the entire industry has dropped to 10-15% of that amount. About 7-8 crore workers have been severely hit.
The current lockdown scenario has impacted industries and people everywhere, but it is particularly the poor who have been hit the hardest, as the worrisome trend of job losses becomes pervasive across sectors, especially in urban areas. Fear has gripped industries worldwide, especially small businesses that may shut down in 3-6 months due to a lack of sufficient resources.
On Labour Day 2020 (International Worker’s Day) today, with the aim of addressing this burgeoning issue, hyperlocal fintech startup network PayNearby launched JobsNearby. Through their impressive business correspondent network, the company is already in contact with thousands of these migrant workers who have lost their jobs. In the process of enabling DBT access to these workers, the company realized the severity of the situation and the stark need to address the same.
JobsNearby is an assisted job registry that will help migrant workers who have been affected by the pandemic lockdown to seek gainful employment. Through its vast network of more than 9 lakh retail touchpoints, spread across 17,000 plus PIN codes in the country, the company wishes to create a platform where out-of-job workers can register themselves and find a suitable placement. On the supply side, the company has identified and tied up with multiple partners, including banks, NGOs, global foundations, and other aggregators, where registered workers can then be placed.
Anand Kumar Bajaj, MD & CEO, PayNearby said, “With JobsNearby, we hope to ensure that migrant workers and their families are not left bereft and can regain their dignity and livelihood. Through our wholesome database, we hope to provide these workers with an opportunity to rebuild their lives, without having to compromise on their skills.”
The company aims to aggregate a wholesome database and reach out to these people by helping them register through its network. Job seekers will register for various kinds of job roles that were available earlier besides other roles that can be accommodated as per their skill set, also allowing them to select a location as per their choice. These job data points will then be collated and sent to job supplier agent networks and employers. This initiative is an attempt to create a platform that is apt for blue-collar migrant workers in urban areas.
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