Article: Future of jobs in India

Talent Management

Future of jobs in India

Is my job safe? It's an inquiry we have all posed to ourselves sooner or later, yet no time has been more important than today.
Future of jobs in India

Getting a job in a good organization is the ultimate destination of every young student. But, there is no real definition of what actually ‘Good’ implies. It boils down to an individual's own aspirations and desires. Further this connotation has undergone a significant change during past few months not only in India but worldwide, on account of COVID -19 pandemic as getting a job in present times is far more challenging and demanding. Let us analyse the situation in depth here. 

Current Job scenario 

The Indian activity market has witnessed turbulent months in the midst of the Covid-19 emergency with enormous employment misfortunes and taking off joblessness. India's young white-collar executives are first column in the firing line. Individuals aged 21-30 years will be harder hit than grown-ups in the emergent situation and face a higher danger of longer-term monetary and social expenses. 

Around 41 lakh of India’s youth have lost jobs because of the pandemic while employment prospects have gotten severely challenged in Asia and the Pacific, according to a joint report by the International Labour Organization and the Asian Development Bank. 

How technology has taken over the Job market?

Is my job safe? It's an inquiry we have all posed to ourselves sooner or later, yet no time has been more important than today. With current progressions in advanced mechanics and programming, the contemporary human workforce is by all accounts under attack. Today, not only assembly line workers, even clerical positions are being sliced because of computerisation and innovative progressions. 

As experts filter through later and verifiable information, the patterns in work misfortunes become apparent. In any case, endeavouring to foresee the drawn out eventual fate of our human workforce is the place things become dubious, the same number of the specialists differ on an exact timetable. Everything boils down to how quick mechanical progressions in advanced mechanics and man-made consciousness in the form of artificial intelligence (AI) will continue. In the course of the most recent couple of years, robots and PCs have taken enormous jumps in their presentation and abilities and have supplanted more human positions. 

Future of Jobs post Covid

British research firm Crosby Textor conducted a study across different world topographies and found out that stresses over employment misfortunes were the most elevated in India as 86 percent of those overviewed dreaded losing their positions and business post-Covid-19 lockdowns. In correlation, this dread is just 31 percent in Britain, 33 percent in Australia and 41 percent in the US; and indeed, a sensibly high 71 percent among Hongkongers.

India today has a population of about 138 crore. Of this, about 75% or about 100+ crore are said to be in the working-age, usually calculated at above 15 years. Taking the broadest definition of employment to include any kind of paid work, formal or informal – salary, daily wage or self-employment, in February 2020, pre-coronavirus pandemic and the national lockdown, about 40.4 crore Indians were employed, as per CMIE.

What kind of upskilling is required for Freshers and Job ready students?

Amit Khanna, who finished his MBA in finance from a leading B-school, was hoping to join an MNC lead analyst in April. The pandemic, nonetheless, postponed his enlistment uncertainty. In any case, rather than pausing, he joined online courses in account, with hope to advance his learning quicker in the domain. 

FirstNaukri.com posted 34,000 fresher jobs in January-March, but it is down by two-third post-lockdown. Many students have taken up internships without stipend.

If your career has been fading away due to outdated technologies or practices, it’s time to get reskilled and ready for the next big opportunity. With a large number of jobs side-lined by COVID-19, people are spending their time with home improvement ventures, cooking, working out or enjoying TV shows. In any case, entrepreneurs are of the view that bright minds should exploit this time and learn or improve abilities so as to stay serious in the activity market once rules are lifted. 

Express Employment Professionals franchise owner Bruce Hein in Sarnia, Ontario, observes that employees who are lifelong learners, both personally and professionally, always are the most valuable to organizations. He believes the most successful individuals are always thirsty for knowledge. Niven Lee, Express franchise owner in Delta, British Columbia, states COVID-19 has demonstrated that lifelong learners bring immense value to companies. “No one could predict the depth, breadth and speed of the crisis,” he said. “The environment has been fluid and all of us have had to learn and adapt quickly. It’s these lifelong learners who are best able to adapt.”

However and whatsoever the situation is, the job market is always tight and demanding. The individual has to adapt himself to the demands of the tide. 

 

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Topics: Talent Management, #JobsNowAndBeyond

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