Indian Job Scene Change – What does that mean for you?

Indian Job Scene Change - What does that mean for you?

Indian Job Scene Change – What will be the implications?

Indian Job Scene Change – What does that mean for you?

Ernst & Young, a management consulting firm, in association with Ficci-NASSCOM, released a report in December that claimed a major Indian job scene change by 2022. According to the report, one in every 10 workers in India would have to be employed in jobs that don’t even exist at the moment. What it means – one in every 10 current jobs would be wiped out within the next five years. Furthermore, the existing jobs will evolve drastically and 37% of the employees will be placed in roles that require a profound change in skills.

Click For Latest Jobs

What does the Report say?

The Information Technology Business Process Management sector will face the biggest hurdle here. Around 20% to 35% of the employees face the risk of losing their jobs by 2022. Currently, the technology sector employs around 3.8 million people directly and 13 million indirectly. Around 4.5 million jobs are expected to be created by 2022. Of these 4.5 million jobs, 4,50,000 to 9,00,000 will be new jobs in the field of machine learning and artificial intelligence.

The report also claims that productivity will improve by 15% to 20%, 60-65% of the Indian workforce in the IT-BPM sector would be placed in jobs that have radically changed skill sets, followed by 55-60% in BFSI and 50-55% in the automotive sector.

Why will this happen?

This Indian job scene change is fuelled largely by the growth in automation technology. Automation will, naturally, require less manual work which means fewer people. And thus, many jobs will be wiped out. However, in place of the old job profiles, new ones will grow. The sectors of data science and artificial intelligence will see a booming growth in the near future. As a result, employees having skills in these fields would be in high demand.

Click For Latest Jobs

So, tell us, did you find our post on Indian Job Scene Change – What does that mean for you? helpful? If yes, keep visiting us regularly for more news. And please share your views in the comments section.

Freetest_App

Share your thoughts/queries here!