Employment landscape in India

Globalisation has changed the fundamental nature of doing business. The new economy is dominated by people-centric organisations that believe in harnessing intellectual capital to drive business enterprises. This has created a plethora of career opportunities and the need for a multi-skilled and versatile workforce. However, the bad news is that, labour supply exceeds labour demand. In other words, job security is a thing of the past — either you choose to continuously enhance your skills or be ready for the pink slip.

There are about 12 identified sectors which would be ruling the employment market in India for the next five to 10 years. These include IT, organised retail, media and entertainment, banking, financial services and insurance, construction and real estate, ITeS, telecommunications, travel and tourism, biotechnology, hospitality, healthcare and insurance. Jobs are available at entry, middle and senior management levels.

Changes in the Indian employment market

In recent years, the Indian employment market has changed in the following ways:

Reduced gender discrimination.

Lifetime employment is a myth, except in a few pockets including government, select private sector enterprises, etc.

Exploring avenues as different as chalk and cheese.

Vertical career progression has extended to horizontal and lateral growth.

Skill sets have become transferable from one industry to the other.

Moving away from structured pay scales to variable performance based pay.

“Specialised generalists” — creating differentiators that add value within the organisation.

Changing definitions of success which now include a holistic approach to work and life.

Career planning

We spend a minimum of eight hours at the work place, so it’s imperative that we plan our careers. The first step involves making a distinction between job and career. Second, understand what you want and accordingly explore the market. However, career planning no longer follows the conventional connotation, instead it’s about developing a bouquet of workplace skills that is valuable in organisations across industries. Thus, long term career planning would involve identifying and developing core skills that employers will always value. Since “one size fits all” definition of career does not exist in today’s context, it might be a good idea to turn to a career counsellor for guidance.

Part time jobs can be building blocks to a career goal

Young students and freshers often take up part-time jobs. Sometimes, these series of jobs can lead to a long term career. Every assignment you take up could be a building block to a career goal, so our advice would be to start channelling your career path through careful selection of short-term/part-time assignments.

Passion or profession

The million-dollar dilemma remains a choice between passion and profession. Much of that depends on your attitude as well as your family background. A realistic approach would be to first look after your financial and physical security and then branch out to cultivate your passion.

Step by step guide

Self-assessment: The first step of career planning is self-assessment. Make a list of all the things you enjoy doing. If you have trouble deciding, ask a career counsellor or search the Internet for self-assessment tests. It is often noticed that there is a herd mentality among job aspirants when it comes to making career choices, irrespective of whether the choice has the potential to sustain interests in the long run.

It is important to know what you want out of your career. Identify what is critical to your happiness and choose your career in line with these values.

Identifying talents and interest: Interest and talents are closely matched. Certain industry segments call for specialised technical skills as pre-requisites. Do skills assessment tests to find out what skills you already have and what you need to develop. Your dream job should fit your personality, interests, talents, and values. Consider the kind of lifestyle you are particular about. It is best to identify those needs to avoid a mismatch later.

Understanding work trends: It is a good practice to keep oneself updated about the current and future trends in industries and the job market, not just in India but globally as well.

Researching options: As part of the career planning exercise, delve deeper into the careers that interest you. Learn the educational qualifications best suited for the job, any additional skills required, working conditions, emoluments, growth prospects, etc.

Role of career counsellors: Career counselling helps match your desire, aptitude and skill sets. Through a series of tests and discussions, the counsellor is able to assess the skill base of a job aspirant and direct him to a career where these traits can be profitably employed. This leads to enhanced job satisfaction and financial rewards. It is not mandatory to seek a career counsellor’s advice if you can successfully identify your core interests and do your own groundwork.

One word of advice, career development is a lifelong process; therefore, do not be rigid in defining your boundaries. Be prepared for a continuous journey, gathering skill sets as you move along.