Youngsters take charge as India Inc faces talent dearth
The country is witnessing a tectonic shift in in the job market. School pass-outs and college students, barely hitting 18, are taking up jobs at McDonalds, Baristas, Shoppers’ Stops, hotels, airlines and yes mushrooming BPOs - almost unthinkable i...
By Malini Goyal, TNN |
NEW DELHI: The country is witnessing a tectonic shift in in the job market. School pass-outs and college students, barely hitting 18, are taking up jobs at McDonalds, Baristas, Shoppers’ Stops, hotels, airlines and yes mushrooming BPOs — almost unthinkable in the past.
Age of workers in corporate India is coming down steadily as it reels under talent shortage. No nation-wide figures are available but it is true that 54% of Indians are under 24 years and it is cascading into the job market.
At Genpact, average age of 26,000 employees is 26 years. At PVR, 55% of the 1300 workers are between 18 and 25 years. The number of workers under 30 in the new economy sectors is estimated at around 83%.
For India Inc, young workers are a strategic need. However, for the Indian society, culture and economy at large entry of young workers is infusing dynamism far deeper and significant than what is visible on the surface.
Says Santosh Desai, president, McCann Erickson, “The new sense of optimism among Indians is linked to the economic-social mobility that’s now within reach for Indians.” It never was in the past. Younger workers mean longer work life but it also means financial freedom at a fairly early age.
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“It will bring in cataclysmic changes in our society — the kind we have never had in the past,” says Indira Rajaraman, RBI chair professor, NIPFP. More than that it will also change the way Indians look at their education and jobs. For companies it means more challenging to manage and engage their employees. In a four-part series we explore the various strands of the impact that young workers will have on everything around us. Stay tuned. Inside today in CBL, the tectonic shifts below the fun and froth.
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