K Pandiarajan on future of jobs

AK Menon quotes the Ma Foi head honcho on the inflection of job creation. A couple of interesting points he makes is:

Corporates have to invest in ‘creating’ talent to bridge the gap between the competency profile of candidates and the employer needs, by focusing on finishing schools.

With increasingly diverse structure of employment (outsourcing, remote teams, telecommuting, parttime,flexitime,interim management et al), commitment to a profession is gaining ascendancy in the employee’s psyche compared to loyalty to an organization.

As if on cue I saw a post by an entrepreneur, Abhishek Rungta, who runs a IT firm in Calcutta (or Kolkata, if you will!) where he says:

There is a lot to rant about the negatives, which we all do. I never liked the way education is imparted in our country and always wanted to grab the first opportunity to change the same.
Initially, Indus Net Academy will start with career oriented professionally taught courses on:- Web Design, Web Development & Internet Marketing. The course will be taught by experts who are practising these subjects at Indus Net Technologies and serving clients from all over the world. Teaching methodology will be a mix of classroom based core concept delivery, self paced study, research and discussion on important ideas, lab sessions and practical tips from practitioners of "how things are done in real life".

We are further backing up the courses taught in Indus Net Academy with guaranteed jobs by joining hands with companies who need the "industry-ready talent".

This is good news. Only with such initiatives will we be able to avoid the alarming future as predicted by TeamLease's India Labour Report, which Dr. Madhukar Shukla blogs about:

Coming Unemployment Explosion

India's working population in 2020 will be equal to India's total population when reforms started in 1991

Projecting current variables forward means 211 million unemployed in 2020; an unemployment rate of 30%

Unemployment will largely be a youth problem; nine out of ten unemployed are likely to be in the 15-29 age bracket

Inefficient Labour Markets

Unorganized employment grew by 31% versus Organized employment of 4% in the nineties

Labour laws may not be affecting overall growth but are influencing where jobs are created and amplifying the substitution of labour with capital.