'Job Crisis in India': Book advises to prepare for 'gigs'
The safe and steady "9 to 5" jobs may no more be an option for most Indians, warns a new book 'Job Crisis in India', advising youth to be prepared for short-term work or "gigs". Taking the jobs issue in India head-on, renowned business journalist Raghavan Jagannathan's book explains why "middle-class jobs may soon turn out to become gigs project work or contract work."
Jagannathan explains why the gig economy is not for all
In chapter 'Jobs or Gigs? What will be the future like,' Jagannathan ponders on the pros and cons of a gig economy. He explains why a gig economy is not for all, and how the cost might sometimes outweigh benefits. That said, he also writes explicitly about how the world is "increasingly moving towards gigs, either part-time employment or small-time entrepreneurship".
Most Indians are not looking for gigs, says the author
Also, Jagannathan clarifies that "most Indians outside farming" are not looking for gigs. "The need is for stable jobs, as the agitations for job reservations by landed castes in India like the Patidars In Gujarat, the Jats and Gujjars of Haryana, Rajasthan, and western Uttar Pradesh, the Marathas of Maharashtra, and the Kapus of Andhra Pradesh demonstrate," the author writes.
Govt's self-employment push only 'pointer in this direction': Jagannathan
Without mincing any words Jagannathan suggests the Indian Government's efforts to push self-employment by creating micro-enterprises, offering microloans is only a "pointer in this direction". While quoting National Skill Development Corporation's 2016 "Environmental Scan" report, which sees the scope of creating 103mn jobs in the 2017-22 period by skilling, he notes, "A lot of the skills mentioned could be gigs or self-created small businesses."
Jagannathan on the biggest job creator
"The biggest job creator...will be building construction and real estate, but barring a few contractors and key skilled personnel, the vast majority of those employed are likely to be on per-day (or per-job) work, though the contract-period may be long in some cases," Jagannathan writes.
What does Nandan Nilekani have to say?
Putting his weight behind Jagannathan's point is former UIDAI Chairman and Infosys Co-founder, Nandan Nilekani. "The lifetime employment business is dead where you join a big bank as a probationary officer and retire as deputy MD or GM... And this is true for a lot of industries. (Given the pace of change) companies cannot also think long-term," Nilekani said in an interview to Jagannathan.
Book explains micro, macro factors impacting the overall job scenario
Published by MacMillan, 'Job Crisis in India', priced at Rs. 599, claims to explain the various micro and macro factors that impact the overall job scenario, including the rise of the 'gig economy', the use of robots, and the economic uncertainties that lie ahead.
