Ageism in Indian Corporates

In India, ageism in the corporate sector is rampant, with nearly 60% of firms admitting to discrimination against older workers, according to a recent survey. The outlook for India's corporate sector is bleak, with only a third of firms expecting growth in the next 12 months. Data from the Reserve Bank of India (RBI) shows that investment by Indian firms has been declining for the past three years. This has led to layoffs and a decline in job security, especially for older workers. Ageism in Indian corporates is a serious problem that needs to be addressed.

There are several reasons why ageism is so prevalent in India's corporate sector. One reason is the country's vast population of young people. With over half of the population under the age of 25, there is a large pool of young talent that companies can choose from. This is in stark contrast to developed nations, where the population is ageing and there are fewer younger workers who can be hired. This leaves companies with little incentive to retain older workers. Another factor that contributes to ageism in India's corporate sector is the high attrition rates among young workers across sectors. The law in India does not recognize age discrimination as a form of employment discrimination. However, there are some state laws that protect the rights of senior citizens in India. In the late 1990s, a growing number of workers in India began to unionize and campaign against discrimination at work. The government has also introduced laws to protect older workers. The preamble to India's Constitution states that it is "in the recognition of the right of all workers to [life], equality, and protection against exploitation"

The Factories Act, 1948, prohibits employment in factories for children under 14 years of age. The Contract Labour (Regulation and Abolition) Act, 1970, prohibits employment of contract workers in any hazardous activities. The Unorganised Workers Social Security Act, 2008, aims to provide an old-age pension, disability insurance and unemployment allowance. It also seeks to empower the Centre and State governments to provide other benefits to unorganized workers through their respective agencies.

Ageism in 'older' countries Vs. in 'younger countries'

Ageism, or discrimination against people because of their age, is a global issue. But it manifests itself differently in different parts of the world.

In developed countries like the United States and Europe, ageism is often directed at older people. They may be passed over for jobs in favor of younger candidates, or treated with less respect by younger co-workers. Ageism in these societies is often subtle and institutionalized, making it hard for older people to combat.

But in developing countries like India, ageism tends to work in the opposite direction. Here, it's often young people who are discriminated against by employers who prefer to hire older workers. This form of ageism can be just as damaging as the other kind, preventing young people from getting the jobs they need to start their careers.

In conclusion, it is evident that there is a need for change in the way Indian corporates view and treat their employees. The current system of ageism is not only unfair but also counterproductive. It leads to a loss of experienced and skilled workers, which can have a negative impact on the company's productivity. Corporates should instead focus on creating an inclusive environment that values all employees, regardless of their age.