The Impact of COVID-19 on India’s Job Market
The 2020 COVID-19 snare struck the economy, businesses, and jobs in India with unforeseen transformations. Digitization became the need of the hour. Work from home has become the new normal, and several companies went kaput, leaving millions of high-skilled, blue- and white-collar workers out of work. The rate of employment in India witnessed a massive drop in 2020 for the first time in four decades, and it continued to decline post-lockdown too. Additionally, the rapid change in working trends inadvertently affected job-seeking and retention patterns, thus echoing the fact that finding jobs in India would undoubtedly be a challenge in the coming decade.
The Impact on Young and Executive Groups
The COVID-19 virus and pandemic hit the young and executive groups harder than expected, with millions left jobless and hunting for jobs in India. However, the future seems all the more unforeseen for these groups as progressive technologies and digitization pose a threat to their innate skills. Moreover, with digital transformation cutting a new and edgy working scenario during the pandemic, job seekers are left with no choice but to retrain and upskill themselves to fit the demanding needs of the employers.
The Challenges for Low-Wage and Low-Skilled Workers
Also, given that a large percentage of employed Indians are dependent on daily wages or low-paid professions, finding jobs in India will be taxing for these groups as well. Besides, low-skilled wagers, freshers, and students will have to reorient themselves with more than one skill to attract exceptional opportunities in India. The reason being, the pandemic has made businesses reconstruct their rules, objectives, and working patterns, and this transformation has also triggered a change in their employee requirements.
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Technological Transformation and its Impact on Employment
The year 2020 witnessed a tide of job losses as businesses incorporated technologies and switched to digitization to maintain annual turnover. Moreover, several companies are now willing to opt for technology integration to reduce the workforce, which will only increase task-specified jobs in the market. Besides this, the retention rates in companies were affected too, as it made employers realize the benefits of digitization and multi-skilled employees. So, it’s undeniable that the employed Indians will have to cope with more cubicle competitions to outshine and retain their positions. Also, these competitions and lack of suitable opportunities might force several officials to change their professions, which will undoubtedly increase challenges for younger groups such as students and freshers in the future.
The Future of Job Market in India
So, will finding jobs in India be a challenge in a decade from now? Yes, certainly. With the pandemic and lockdowns challenging businesses, students, low-paid, and low-skilled individuals will be most affected while finding a secured and high-paying opportunity in the impending decade. Plus, with rising competitions, progressive technologies, and digitization taking precedence, job seekers will have to adopt an innovative approach, agree to workspace fluidity and other taxing norms to secure jobs in India.
Conclusion
All in all, the COVID-19 pandemic has triggered a change in the job market that will undeniably be a looming challenge for all in the coming decade. So, is India ready to take on these challenges and bounce back with a stronger economy? Only time will tell.
References:
- 10 years from now, tried and tested methods of finding a job may not work anymore | The Economic Times | 19 Feb 2021
- The future of jobs – No future for white and blue collar workers | V Venkateswara Rao | 22 Oct 2020
