Quality of Informal Jobs in India’s Banking Sector: A Primary Study Through the “Decent Work” Framework

Abstract

“Decent Work” is International Labour Organization’s (ILO) umbrella strategy to promote the “quality of work/job” for all, which is aimed at more productive, well-remunerative and better quality jobs. However, the prevalence of informal employment and growing “informalization” of jobs indicate a general deterioration in the quality of work. The present study, based on a primary survey of employees in banking sector, shows that the “decent work” framework has had limited influence on the growing non-standard forms of employment (NSFE) in India. Even in a sector like banking, which is considered more formal and regulated, jobs fell short of “decent work” criteria. This article explores various indicators that have been used to gauge “quality of jobs” from the literature and shows how the prevailing NSFE in the Indian banking sector lack almost all of them. Analysis of the primary data shows that workers in NSFEs have lower levels of job satisfaction and receive low wages and minimal or no training. The findings of the study confirm that NSFEs do not ensure basic labour rights and decent standard of living and are also not desirable when compared to permanent jobs.