I was recently attending a Tech conference held by Masai School in Bengaluru. A conference that was well-planned and executed. There was a panel discussion led by Anmol Garg and the panellists were from Hubilio, Amazon and Avendus. I had so many takeaways that I had too many unanswered questions towards the end of the discussion.
A thought-provoking statement by one of the panellists was on the hiring landscape in India and the way demand and supply function. Today, we have less than 20% of graduates landing an opportunity just after the completion of their graduation. This was at 26% in 2018 and 22% in 2019 and dipped to less than 10% in 2020. When we talk about the job market as it is right now, it appears to be unstable since we have seen more than 200,000 layoffs in the technology and nontechnology sectors across large enterprises, start-ups, and MNCs in India alone. Post covid, the unemployment rate doesn’t show a decline in the country and looks like it’s going to touch the double-digit number soon. As of today, it stands at 7.03%.
To the young adults who are looking at kickstarting their careers, they need to understand that corporates are not just looking for a degree but are in dire need of a skilled workforce.
Harsh Goenka of the Goenka group clearly spoke (on X formerly Twitter) about the need for a skilled workforce and how this has created a gap in the system.
If the current demand for jobs is 'X,' then the supply is approximately 20-25 times that amount, and the only way to meet the one percent criterion is to demonstrate and express one's skills to recruiters and hiring managers in the most effective way possible. What options do I have? Here are quick 9 tips for you to get started with your journey.
Ensure that your professional route/career path is well-defined.
Make an effort to participate in several internships in order to obtain the required skills.
Focus on upscaling before upskilling. (remember, you are a graduate)
Choose to build your network. Connect and learn from experts.
Keep an eye on your brand positioning.
Take the time to curate your social media presence, particularly on Linkedin, Github, Behance, and Blogs, as well as Kaggle.
Create a lasting impression on your network by being active on professional platforms.
Curate your learnings, share it with your network and seek feedback.
Learn to articulate your thoughts and work effectively!
If a person is able to master their own brand across a variety of platforms, in my opinion, they will be in a much better position to seize opportunities as they arise. In point of fact, the crisis in the employment market is much more severe, and there is no sign that it will improve over the next few of months. Being prepared is the best approach to ensure that you make an impression and progress down the route you want to take.
Cheers, and Best Wishes..!!