Flexible work is slated to be a mega trend of the 21st century.
From the day I started my Internship at a radio channel as an 18-year-old, the only wisdom my dad imparted to me was—know your finances, make investments and spend wisely. After all, that's how...
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Four months ago, I set out on the journey of a lifetime. I was moving to India from the US for personal and professional reasons. Having spent 17 years in Texas, I had become well-adjusted to the life...
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Only about 25% of Indian graduates are considered employable by the organized sector. Further, 48% of Indian employers said they were having difficulty in filling jobs, in 2012. Despite employers expressing difficulty in finding employable candidates, in 2009-10 the unemployment rates in India were higher for those who were more educated (graduates had more difficulty finding jobs than secondary or primary level graduates). So Indian education, in its current form, hasn't proved to be enough training for the incoming workforce.
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Millennials (those individuals born between 1980 and the early 2000s) rank as the largest generation ever, and they are having a significant impact on the world around them -- not the least of which is how they will drastically change the composition of the workforce. By 2025, Millennials will make up over 50% of the global workforce and 70% of workers in India. But their view of the world is different from any previous generation and leaders need to understand the attitudes, beliefs and values that define this unique generation.
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Is it time to question the unstated belief that career progression needs be a vertical journey, taking us to better and higher roles and titles than we had before? This belief is causing huge stress on both the individual and the organization -- the former due to sense of self-worth being linked to role and title, and the latter because of the pressure to provide growth for everyone lest they get demotivated and leave. Let's face it, only so much growth is possible.
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India missed the industrial revolution that creates employment for millions of low- and medium-skill workers. Instead, it moved on to become one of the emerging leaders in the service/knowledge economy where only a few with good education and high skills prosper. This reflects in India's enormous income equality gap, which is larger than all the advanced economies.
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India is currently enjoying a 'demographic dividend', which means it has a higher labour force than the population dependent on it. While this may appear a reason for blissful complacency, it must be remembered that by the latter half of the century India will have an increasingly aging population, yet the country lacks a social security net adequate for the needs of its people.
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Workplace wellness programs are a recent trend in India, seen by the corporate world as a significant step towards creating a healthier and more productive workforce.
As today's workforce gets increasingly dynamic, the difficulty in retaining talent keeps rising. The silver lining, however, is that because of the availability of social media tools today, everyone out there can now be your potential candidate. In order to remain relevant in the market, your business must accept and adopt these changes. The future belongs to social sourcing.