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IBPS PO, IBPS RRB & NABARD Asst exam: Reading Comprehension Quiz based on ‘The Economics'

Sep 22, 2016 16:39 IST

    It has been observed in the recent times that bank examinations focus solely on passages based on economic and social issues, business and finance, banking etc taken from leading newspapers such as The Hindu, The Economic Times, The Times of India, The Indian Express etc. Here the banking team of Jagranjosh is presenting to you a passage for reading comprehension taken from The Economics Times’ (dated 08th Sept 2016). Candidates are advised to attempt the quiz to prepare for upcoming bank examinations.

    Question (1-10): Read the following passage and answer the questions that follow. Some words / phrases are printed in bold in order to help you locate them while answering some of the questions.

    The global economic slowdown witnessed in 2016 so far could not affect India’s employment market, a survey says. Instead, the country’s 80 per cent employers are confident that hiring activity would remain steady in 2017, the latest ’Salary and Employment Outlook’ by global recruitment specialists Michael Page said. “India’s employment market enjoyed a good year largely remaining unaffected by the global economic slowdown in 2016, and 80 per cent of employers in India are confident that hiring activity will remain steady in 2017,” it said.

    It further said that 3 in 5 employers or 60 per cent of Indian companies will be adding new head count in 2017. “We have observed a positive outlook on companies’ employment forecast in India. With new orders coming in from overseas firms seeking to utilize India’s vast resources and labour pool, more foreign companies are investing in the manufacturing, infrastructure and renewable energy sectors,” Page Group Singapore and India Senior Managing Director Sebastien Hampartzoumian said. “This is driving the demand for specialist skill sets and professionals with both the technical expertise as well as the right cultural fit,” he said. ‘Michael Page Salary and Employment Outlook’ is based on the responses of over 300 employers across India from major industry sectors and ranging from market-leading multinationals to small and medium-sized enterprises.

    As part of PageGroup, Michael Page is a professional recruitment consultancy specializing in the recruitment of permanent, contract and temporary positions on behalf of the world’s top employers. The survey further found that 44 per cent of employees will leave their jobs due to limited career progression. It said 88 per cent of employers are offering 6 to 15 per cent pay increments in the next 12 months, 51 per cent of employers are expected to give 6-15 per cent bonuses. About 83 per cent of employers feel that diversity and inclusion is a priority and have active work place programmes in place, it said. As India provides an intense market competition and lack of highly qualified candidates, attracting and retaining talent are key areas of focus for employers, it highlighted.

    Career progression (79 per cent), salary increments (56 per cent) and learning and development programmes (40 per cent) are the top three factors in talent retention, it said. Flexible working hours (55 per cent), providing and allowing work from home and remote access to work (47 per cent) and better staff welfare benefits (42 per cent) are among the most popular work-life balance policies, it added

    1. Which among the following is the prediction of the said report in the passage regarding the employment trends in India in coming years?

    1. Indian companies are mainly interested in retaining talents from other companies and fresh hiring is not on the radar for them
    2. Indian companies are looking forward to foreign companies for manpower and Indian market is thus overburdened with talent
    3. Indian companies will not hire in the new year but the foreign multinationals are going to hire as much as possible from India
    4. Indian companies will continue hiring at a steady and sustainable pace in the coming financial year just as the previous few years
    5. Other than those given in options

    Sol: Option (4)

    Explanation: According to the passage, Indian companies are not going to be affected by the global slowdown in hiring by international companies. Indian growth story is going to continue and new people will also get hired in the years to come. Hence, India will see a steady and sustainable growth in employment by companies in the coming years.

    2. Which among the following, according to the passage, is / are the main focus of the employers in India as of now?

    1. Indian employers are hiring new people who have more than one skill to complement the supporting new businesses of a company
    2. Indian companies are focusing on retaining talent in the company by providing adequate opportunities to the employees for career growth
    3. Indian companies are focusing more on foreign talent since that comes cheap as compared to skilled Indian labour
    4. Indian companies are interested in hiring people who are interested in temporary work rather than permanent assignments
    5. Other than those given in options

    Sol: Option (2)

    Explanation: According to the passage, the Indian companies are mostly interested in retaining the talent they already possess because in India, there is a lack of talent in the Indian market. So, every employer needs to retain talent otherwise, the risk of attrition is there in a market like this.

    3. Which among the following is the most important factor for retention of talent according to the report published?

    1. Indian employees are mostly interested in developing their learning and expanding the knowledge base
    2. Indian employees are mostly concerned about the career growth in the job they are presently doing
    3. For Indians, the most important thing is the compensation they receive at their work
    4. Both (1) and (2)
    5. Other than those given in options

    Sol: Option (2)

    Explanation: According to the study published by the Pagegroup company the most important factor for Indians when it comes to prevent attrition and retain the talent is the career progression offered in the job whereas it is followed by salary and increments along with learning and development programmes organized by the employer.

    4. Which among the following is the reason behind the opposite trend observed in India as compared to the global trend regarding hiring practices of companies?

    1. Indian companies are mainly driven by domestic growth and that is why, global slowdown has no effect on the Indian companies
    2. Indian companies have foreign clients who are ready to splurge on new ventures to be supported by their own management
    3. Indian companies have not stopped receiving orders from the foreign clients even when the recession and slowdown have affected the global economy much
    4. Indian companies are hiring because they have laid off more than other countries at the time of last recession
    5. Other than those given in options

    Sol: Option (3)

    Explanation: According to the report, it is seen that Indian companies are going to hire candidates even when there is an overall slowdown in fresh hiring in the world. This is mainly because Indian companies are not short of orders from their foreign clients and to deliver on them, these companies need to hire anyway from the already under-staffed talent base.

    5. Which among the following is true regarding the employers in India, according to the survey?

    1. Indian employers understand the mentality of employees better and that is seen in the way majority of them take care of their employees
    2. Indian companies offer increments mainly in the same range for most of the companies
    3. Indian companies have no time to think over talent base in India and that is why, it is depleting in India gradually leaving companies no choice but to vie for the same candidate most of the times
    4. Both (1) and (2)
    5. All the above

    Sol: Option (4)

    Explanation: According to the passage, it is observed that around 88 percent of the employers offer increment to the employees in the range of 6 to 15 percent every year whereas 83 percent of the employers understand that it is necessary to have active learning and development programme and have similar programmes in place. For the third option, there is no concrete evidence to back the statement.

    6. Which among the following describes the most useful work life balance policy as proved in the survey?

    1. The liberty of the employees to work anytime they want to without any time related restrictions on them
    2.  Indian employees want to do away with the deadlines as that hampers the thinking process of the employees
    3. Indian employees want to relax in the office as well between working hours
    4. Indian employees want the option to work from any place they want to
    5. Other than those given in options

    Sol: Option (1)

    Explanation: As per the Pagrgroup survey regarding the fresh hiring practices in Indian firms in 2017, it says that there are few things that the employees want the employers to take care of so that there is a balance between the personal and professional lives of the employees. Flexible working hours is the most important policy towards that end and it is followed by the option to work from home and staff welfare benefits provided by the employers.

    7. Which among the following is SIMILAR in meaning to the word ‘forecast’ as used in the passage?

    1. Prediction
    2. Write off
    3. Retention
    4. Rejection
    5. Other than those given in options

    Sol: Option (1)

    Explanation: In the passage, ‘forecast’ is used to indicate that there will be steady hiring in the Indian companies in 2017 and that is a prediction made by the survey undertaken by PageGroup company.

    8. Which among the following is SIMILAR in meaning to the word ‘utilize’ as used in the passage?

    1. Make use of
    2. Handle
    3. Appropriate
    4. Assess
    5. Other than those given in options

    Sol: Option (1)

    Explanation: In the passage, the word ‘utilize’ has been used to indicate that the foreign firms want to make use of the resources India has in the labour arena.

    9. Which among the following is OPPOSITE in meaning to the word ‘major’ as used in the passage?

    1. Incessant
    2. Diligent
    3. Insignificant
    4. Ancestral
    5. Other than those given in options

    Sol: Option (3)

    Explanation: The word ‘major’ has been used in the passage to indicate that the survey has been conducted by collecting responses from more than 300 employers from various sectors of the country and that is why the opposite word should be ‘insignificant’.

    10. Which among the following is OPPOSITE in meaning to the word ‘expertise’ as used in the passage?

    1. Inadequacy
    2. Incompetence
    3. Accurate
    4. Stifling
    5. Other than those given in options

    Sol: Option (2)

    Explanation: The word ‘expertise’ is used in the sense that employees should be skilful in order to land a job along with being culturally fit. Hence, ‘incompetence’ is the right word as the antonym of this.

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