Siddharth Manjrekar’s Post

𝐖𝐡𝐲 𝟒𝟐% 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚𝐧𝐬 𝐏𝐥𝐚𝐧 𝐭𝐨 𝐒𝐰𝐢𝐭𝐜𝐡 𝐉𝐨𝐛𝐬: 𝐂𝐚𝐫𝐞𝐞𝐫 𝐂𝐡𝐚𝐧𝐠𝐞 𝐢𝐧 𝟐𝟎𝟐𝟒 According to a PwC report, the number of Indian employees who will change jobs in 2024 is expected to be about 42%, 📈 which is much higher than the global average of just over a quarter. 🌍 The reason for such an increase can be attributed largely to the quest for better remuneration 💰 and promotions. Specifically, millennials want better salaries and chances for growth in their careers as evidenced by statistics indicating that up to 74% identify this criterion. 📊 The rising importance of upskilling due to uncertainty in jobs is evident from this survey. Over half of employees polled believe that their job skills will undergo significant changes during the next five years as the work environment continues changing. 🔄 As a result, many are moving towards other opportunities that not only offer competitive pay but also job satisfaction 😊 and prospects for advancement. 📈 It is important, however, to note that AI has both brought good tidings and some challenges as well among Indian employees. Nevertheless, there are workers in India; about one out of five (21%) fear that it will automate their roles 🤖 while over half (51%) feel AI will enhance their performance in the workplace. 🚀 This index demonstrates a complex relationship between India and global averages with regard to tech development. Similarly, Indian businesspersons acknowledge the need for reshaping their workforce to be ready for tomorrow’s triumphs. As noted by Kartik Rishi, Partner at PwC India, career choices have become far more dependent on upskilling today. 🎓

🚀 Upskill or Stay Unemployed 🤖 The future of work in India is evolving rapidly with the rise of AI and automation. As Mira Murati, CTO of OpenAI, noted, "Some creative jobs maybe will go away, but maybe they shouldn’t have been there in the first place.” This shift means many jobs will disappear, and new skills will be required to thrive in the changing job market. Recent studies show that even with a robust economic growth rate, India may struggle to create enough jobs over the next decade. The wealth concentration in the top 1% has reached its highest level in six decades, highlighting growing economic disparities. As someone Struggling to find opportunities for advancement within my field has highlighted the need for ongoing learning and flexibility. In a saturated job market, staying resilient and upskilling are crucial strategies. 📚💪 Alvin Toffler once said, "The illiterate of the future are not those who can't read or write but those who cannot learn, unlearn, and relearn." This has never been more relevant. Embracing new skills and adapting to industry changes is essential. 🌟 We must also explore ways to use technology and AI to combat poverty and unemployment. Preparing for the future means ensuring that the benefits of technological progress are shared widely and inclusively. 🌍🤝 Let's commit to continuous learning and work together to build a future where technology drives equitable economic growth. #FutureOfWork #AI #Automation #Upskill #ContinuousLearning #EconomicGrowth #India 🚀

Indians' IT jobs dream: AI-induced job loss woes put workforce doubling plan in doubt The days of leveraging India's talent as a sweat shop are long gone. AI has ushered in disruption, not just in the technology space but also in how organizations are looking at talent, moving forward. Companies having a high exposure in low end generic tech skills staffing, will bear the brunt of this change in the talent landscape. Disruption will push all to innovate and adopt, failing which growth will be impacted. Margins are already sliding down, which will continue to put pressure on the business. The agility to quickly change gears, invest for the future and being close to the customer, are ways that staffing companies can face the testing times ahead. Let's connect over coffee and discuss on what we feel are various ways to address this impending threat. https://lnkd.in/gP7hJ3np

Nowadays, I see many people complaining about the lack of jobs or being 'open to work' for a very long time, and I decided to do my research on the current job market in India. During my research, I came across an article by The Times Of India- and to my surprise, I found out that 9% of the workforce is at risk of displacement due to automation by 2030. To summarize the article: 1) Digital technologies have led to increasing growth in sectors like e-commerce and remote work. 2) The demand for skills in artificial intelligence, machine learning, and data analytics is expected to remain high. 3) In the fast-paced economy, employers are mainly focusing on skills over qualifications. 4) Job markets are transitioning from traditional to new sectors emerging from new technologies and consumer behavior. 5) The registered startups reported were around 92,000 until February 2023. What are your thoughts on it? #IndianJobs #IndiaCareer #JobSearchIndia #IndianJobMarket #JobsInIndia #JobOpportunities #IndianEmployment #JobSeekersIndia #CareerIndia #JobHuntIndia #IndianProfessionals #JobOpeningsIndia #EmploymentIndia #IndianRecruitment #WorkInIndia

Is the Good Time for Tech Workers in India Coming to an End? This decade has been great for tech workers in India, putting many in the top 1% of earners and allowing them to live very well. This success has come mainly because companies from Western countries hire from India, getting great talent for much less money. While saving money has been important, it's not the only reason for this trend. However, could this good time be coming to an end sooner than we think? The rise of artificial intelligence (AI) is changing things quickly. AI tools can do the work of many people by a few. This change makes AI tools cheaper than hiring many workers from India, which only need one or two people to run. This big change hasn’t started in India yet, but job losses are already happening on a large scale in North America. Often, what happens in the West soon happens in Asia too. What used to be a big advantage for Indian tech workers might turn into a big problem. As a business owner whose operation relies heavily on outsourcing, I understand the challenges this poses. It's crucial for us to pivot and adapt to these changes. How will this change affect India's tech industry and its workers? People who build and implement these tools can reduce the risk of being redundant. The role of outsourcing will move away from volume and cost to speed of implementation. Let’s look into what the future might hold for this important industry. #ai #jobs #joblosses #career #india #outsourcing #entrepreneurship

The Indian private IT sector could employ only around 5.6mn professionals In 2023 and how many could you think IT industry can employee every year in the coming years? 1. with the rise of AI 2. what the emergence of more and more qualified professionals every year, few millions from each state. do you think the IT opportunities are going to be the same? >>There are more and more qualified professionals every year in the market to replace the experienced professionals, >>Applying and getting a job too could become as difficult as applying the government jobs. all these being the reason the IT companies A. would ask you to work for extra hours a week, more than 70 hrs a week. B. The week end off culture might eventually fade away C. The salaries slabs could drop D. There could be more policies that could impose more physical and mental pressure directly and indirectly as IT domain has resource in abundance and they would capitalize on that! anything to add? All these being the reason India is looking for, 1. More entrepreneurs creating more job opportunities 2. More non it industries as IT alone cannot employ the population 3. More self employeed professionals 4. More people finding jobs in overseas There is no fun, many already know this and you see a significant literate population moving to, Many self made jobs like farming, teaching, street side food stalls, tea stalls, etc Back to our roots. I would love to hear from you all, what would you suggest the upcoming generations? or if you have a thought/option of getting started something on your own a non IT what would you do? #itjobs #nonitjobs #employerhiring

As India leapfrogs her way up the global GDP rankings - poised to be the 3rd largest economy by 2027 - the size of the blue-collar workforce is growing rapidly alongside. What's more is that 80% of all jobs in India are blue-collar and yet this is a highly underserved segment. At Vahan, we're committed to using AI technology to bring the best opportunities to India's massive blue-collar workforce. Our CEO, Madhav Krishna, expresses our vision in detail in this article in India Today below: https://lnkd.in/gQg3AkGF #bluecollarjobs #ai #genai #technology #impact

In a remarkable turn of events, India's job market is poised for a significant transformation, driven by the rapid adoption of artificial intelligence (AI) and emerging technologies. Recent reports from leading research firms paint an optimistic picture of the country's employment landscape, projecting the addition of 33.9 million workers to the workforce by 2028. This surge in employment opportunities, coupled with the creation of 2.73 million new tech jobs, signals a pivotal moment in India's economic growth trajectory. Read more: https://zurl.co/KBGq #IndiaJobMarket #AIDrivenGrowth #JobBoom2028 #FutureOfWork #IndiaTechJobs #EmploymentOpportunities #EconomicGrowth #ArtificialIntelligence #EmergingTechnologies #IndiaCareerProspects #NewJobCreation #TechIndustryGrowth #IndiaWorkforce2030

According to a survey conducted by Mettl, companies in India spend an average of Rs. 41,838 per employee on Learning & Development (L&D). The average spend per employee also depends on the organization's size and needs. Key Problems: ❌ Job Growth ❌ Skill Gap ❌ Remote Work Challenges Faced by Hiring Managers: 1. Skill Mismatch: The most common challenge faced by hiring managers is finding candidates with the right skills and experience. This mismatch often leads to prolonged recruitment processes. 2. Passive Candidates: A large pool of passive candidates, those not actively seeking employment, makes it difficult to attract top talent. 3. Talent Acquisition Costs: The rising cost of talent acquisition, including recruitment fees and salary inflation, is putting pressure on hiring budgets. Current Trends in Hiring: ✅ Digital Transformation ✅ Employer Branding ✅ Diversity and Inclusion ✅ Upskilling and Reskilling ✅ Gig Economy Sources cite that Indian Organizations on average, spend approx. Rs. 25,500 per hire. However, FMCG and other unclassified sectors spend more than double the amount towards their recruitment. This could be because of the high cost of their recruitment teams. The average annual investment per company on L&D in the IT and IT-BPM sectors is around 1.97 crore. That’s where Placed. by Masai comes in. Reducing hiring time from 3 days to 3 hours, and connecting the right talent with the right recruiters, not only saves time but also ensures cost-efficiency and low cash burnout on Learning & Development. Here’s how: ✔️ Hire from an elite pool of candidates, handpicked through a rigorous vetting process. ✔️ Receive a benchmarking score for students via AI assignments, allowing you to attract top candidates. ✔️ AI-powered Resume 2.0 that gives you a canopy overview of scores diving into their domain expertise, and soft skills, among many others. Stay tuned to know Placed. is revolutionising the hiring process! #PlacedbyMasai #Placed #Recruitment #HiringTrends #AI #TechHiring #AIPoweredResume #Resume

"India's Evolving Job Market: Adapting to the Future of Work" India's job market is at a critical juncture, mirroring the global phenomenon of shrinking jobs. The rise of AI, IoT, and Industry 4.0 is recalibrating jobs to meet future needs, with changes happening at an unprecedented pace. Just a year ago, Data Science was one of the hottest skills in India, but now it's already showing signs of decline. In India, the talent landscape is rapidly evolving from a degree-centric approach to a skill-centric one. Companies are now prioritizing candidates with industry-ready experience from non-elite schools over elite school graduates with hefty pay packages. This shift allows companies to save resources, time, and money on training, embracing a leaner approach. The lean phenomenon is sweeping across India, with high headcount becoming a thing of the past. Service automation and product-centric approaches are driving companies to recalibrate their organizations, assigning more responsibilities to existing employees. While this shift brings efficiency, it also leads to overburdened employees. India's experienced workers are in high demand in advanced economies, particularly when coupled with an American degree. To capitalize on this trend, Indian workers must focus on developing skills that are future-proof, such as critical thinking, problem-solving, and creativity. Moreover, India's education system must adapt to the changing job market, emphasizing skill development and industry-ready training. By doing so, India can unlock its potential and become a global talent hub, driving growth and innovation in the years to come. In conclusion, India's job market is undergoing a significant transformation. To thrive, workers and companies must adapt to the changing landscape, prioritizing skill development, continuous learning, and a leaner approach to stay ahead of the curve. https://lnkd.in/dqr6W6cA