As employment numbers have been growing on dodgy terms, new reports indicate a prospective rise in hiring. But as technological transformation becomes a mainstay, what does the future hold?
The opportunities and the threats that arise from the rapid technological adoption by the corporates have been much debated. The positives are often pitted against the job displacing negative effects to assess the overall impact of such technological shifts in everyday work. Although in a country like India such an adoption rate either remains low or mostly localized to specific sectors, its impact has been visible over the last few years. In sectors such as IT, major Indian players had to let go of portions of their staff as a direct result of adopting newer technologies that have now made many portfolios obsolete. In addition to this, many thousands in the sector are faced with the need to reskill or suffer a similar fate. Such factors are now also beginning to impact other tech faring sectors like Banking and E-commerce.
As businesses delve further into the realm of automation, AI, the use of digital platforms and some of the key factors reshaping modern workplaces and skill requirements, one would expect certain ‘risk averting’ behavior by business heads when it comes to hiring. Given how rapidly skill preferences are evolving, a general sluggish approach towards hiring can be expected. But according to recent reports on projected job growth, that doesn’t seem to be the case.
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