By Krishna Ray

Posted on July 28, 2017

How to Create New Job Opportunities While There are Layoffs

A lethargic international economy looms over the Indian job market like a scythe and coupled with technological disruptions it threatens the second quarter of the financial year 2017 with large scale layoffs. The top 5 IT companies namely Infosys, Wipro, HCL, Tech Mahindra and Cognizant have put over 50,000 employees under the scrutiny of the next retrenchment drive.

What about PM Modi’s promised jobs?

In the election campaign Mr. Modi, in 2013 promised to create 10 million job opportunities. Now in the middle of its third year at the center BJP government has little to show, on the contrary, job creation rates have hit rock bottom touching its lowest in almost 8 years.

The ball is in their court now: Industry Speak

Infosys Co- founder Mr. Narayana Murthy had advised senior executives to take a pay-cut in order to protect the jobs of the youngsters. However, Ms. Tapasya Goel, Executive Director HPM India, puts forward a more constructive approach, “The next generation of entrepreneurs will focus on the next billion online consumers. They are going to penetrate every village and town through mobile devices and cost-effective infrastructure. The problems that they would be solving, would be the core existential problems and not just aesthetical alternatives to mundane tasks like notepads, to-do list, taking selfies, booking cabs or listening to a radio.” Therefore, she predicts that the next bulk employment will be provided by startups that solve great problems of India by full stack solutions that unify infrastructure, technology, hardware, software and human emotional quotient. HPM India has executed grass roots level awareness programs in about hundred thousand villages in the past year touching five hundred thousand lives. These training programs empower village folk with mobile devices that have – pre-installed tutorials for various crop solutions, apps to receive real time updates of weather and social media groups for better coordination among the farm laborers.

Start-up the Ray of Hope

In this light, it is imperative that the Millennials take the ideas of Start-up India, Stand up India and Make-in-India gravely. With tax exemptions, seed capital and public sector bonds well within the reach of the common man all is not lost in the outsourcing capital of the world. Start-ups have created such major opportunities this year that people have collaborated with them more than any other company. Most of these promising start-ups such as Exabeam, Prolanceer, MadX Viptela, mySAMRAJAY and Classy provide enterprise solutions. According to the Business Insider these start-ups and another 30 can be expected to hit the stock market ball for the home-run in 2017. A Nasscom-Zinnov Start-up Report projects up to 210,000 new jobs in startups by 2020. This also takes the number of verified Indian start-ups to 10,500. This year, one can expect start-ups to offer 10% – 25% increase in fixed salary with actual CTC going even higher with stock options, according to a Michael Page report. There has been and will continue to be massive hiring in deeply invested, billion dollars valued start-ups in the coming years.

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How to Create New Job Opportunities While There are Layoffs