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Let the Focus be on a Career, not a Job

With the IT and ITES sector in a boom phase in the country, the industry is seeing a huge dearth of talent in sectors like manufacturing, real estate, finance and retail. Contrary to popular belief, the IT /ITES and the non IT sector are complementary to each other with the growth in one subsequently driving the growth in the other sectors.

Unlike most other developed nations where economic growth is spurred by an industrial renaissance and a subsequent growth in the services sector, India has witnessed a reverse trend in recent years. Although agriculture and manufacturing sectors have been the backbone of the Indian economy for years, in the recent years, the services sector has been contributing close to 51% of the GDP.

Career

Two sides of the same coin
With dearth of talent and greater availability of jobs being two sides of the same coin, there are two ways to look at the same issue. On one hand, the rapid growth in various non IT sectors is not being supported by the availability of skilled workforce and on the other hand major players in the IT sector are poaching on talent by recruiting candidates from non IT educational backgrounds. This trend is in fact a good sign for students intending to pursue a career in these sectors.

Until a few years ago, lack of jobs in manufacturing and other sectors as well as the fact that the average pay packages in non-IT companies were lagging far behind in comparison to their conunterparts in IT were forcing students to take the plunge into IT. But with the PHD Chamber of Commerce and Industry predicting a shortfall of close to 5 million trained professionals in the next five years, the tide has certainly turned in favour of the students.

A recent human resources study conducted by the consulting firm Hewitt Associates estimated that India will retain the tag of being the region witnessing the highest salary growth in the Asia-pacific region with an all time high average pay hike of 14.5% in 2007 against the 14.4% in 2006. Moreover, middle managers and professional and technical workers are expected to see the biggest rises at 15.1% and 15.8% respectively.This is certainly the right time to sit back and evaluate ones preferred choice of career as the right beginning hold the key to future success.

Sectors in focus:- According to a report by KPMG and the CII, the Indian logistics sector, which is worth Rs. 4 trillion is facing a shortage of skilled manpower to keep pace with the growth that its witnessed in recent years- Relaxation of norms for NRIs and foreign investors, the real estate sector is estimated to touch the $50 billion mark by 2010. The industry, currently growing at an annual rate of 33% will bring along a huge demand for civil engineers and other construction related skill sets.

With major multinational banks like HSBC, Citigroup, ABN Amro and Standard Chartered ramping up their India operations, the banking and financial services alone is poised to create close to 50,000 jobs in the next few years.

Within the non IT space itself, the Biotechnology industry is fuelling the growth in the real estate sector, according to a report by real estate consultants Lang La Salle. The biotechnology industry in India crossed revenues of $2 billion in 2006-07, registering a 33% growth compared to last year. The industry they say, is expected to reach $5 billion by 2010 and create one million jobs.

With the middle class getting empowered and having more more dispensible income at hand, the retail sector in India has clocked the fastest growth in comparison to global trends. Organized retail, which is currently growing at an annual rate of 30% is expected to create upto 2 million jobs in the next two years alone

Job Satisfaction
Although for a fresh graduate, the easiest and the most lucrative thing to do is to choose the job that offers the higher pay, this approach will not augur well in the long run. Eventually, when the charms of corporate life and fat pay packets becomes more mundane than exciting, one starts to look deeper for sense of true fitment with their career path and thats when our choices early in life have the most impact.

Arvind K, an Instrumentation engineer was keen to pursue a career in his field. He was open to pursuing higher education or take up a job, on a first come first serve basis. When he did not get his university of choice to pursue his post graduation, and due to companies in his field not turning up for campus interview, Arvind took up a job in the HR function in a recruitment firm. But even though the exposure that he got in his job, the pay and the working environment were much better than what Arvind had hoped for, his heart was always with his chosen stream – Instrumentation. Eventually, he gave up his plush job in HR to take up a smaller role in an electronic component manufacturing company and is very happy with his choice today.

The Right Start

Make the right beginning
So be it IT, manufacturing, technical or other jobs, it is very important to make the right start. As freshers, due to the shortage of skilled workforce, organizations today are willing to recruit people and train them. But once into the system, survival is not guaranteed. Thus, it is important to assess one’s preferences, strengths and weaknesses before making a start. Financial rewards will inevitably come ones way in any chosen stream irrespective of whether its their chosen stream or not but it is upto to us to put our best foot forward and to make the right beginning so that we have no regrets later.

Posted in Talent & Skill Development.

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15 Responses

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  1. Brendan says

    Completely agree! Take time to understand the career path before jumping into a position. That’s why we started JobTitled– to research career trends and how people move through jobs using analytics. http://jobtitled.com

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