Seek recession-proof skills
The dark clouds that are gathering on the economic horizon for 2009 are clear signs that it?s going to be a stormy year? for economies, businesses and of course people. In the ?annus horribilis? that awaits us, no country can be spared the shocks and concerns of a recessionary trend that has already hit the US, UK, Japan and New Zealand and will inevitably extend its tentacles to most parts of the world.
While the oil producing nations of Saudi Arabia and Qatar and the high growth economies of the recent past?India, Brazil and China?may be spared the dreaded R word, the job market will be dull in all these countries as organisations look for quick wins and easily monetisable skills to survive the year and prepare for a better future.
What does all this mean for the young engineering, MCA or MBA graduates as they prepare with some trepidation to enter the industry in the next six to eighteen months? The easy jobs which were on offer literally from the third or fourth semester in the boom years of IT will no longer be dangled in front of colleges and every youngster will be asked to demonstrate that he or she has what it takes to make an impression on a potential employer. The slow intake of new blood during 2008 will continue through 2009 and in spite of the fact that over a lakh job offers have already been made on campuses for 2009, students should still look at the coming year as a challenge and an opportunity to demonstrate a new ambition and capability to succeed.
The 24% growth that the industry recorded in the first half is pretty good by any standards. The breathing space provided by the demand slowdown and the consequent plunge in attrition figures has seen industry strengthening partnership with academia. Two outstanding launches?the collaboration of Accenture with IGNOU and the launch of Global Talent Track?s partnerships with Pune University and Cisco for employability skills to be provided using the latest technology?have given a strong signal to the community that the industry will be inclusive and take every aspirant along in its future journey to success.
Employability skills will have to be acquired and demonstrated by every aspiring techie?its no longer a passing acquaintance with programming and computer science, but a deep and wide knowledge of software engineering, IT infrastructure management, ERP implementation and information security that will enable youngsters to get and retain their jobs in an industry, which is looking for new handles to secure its own future.
This skilling imperative is valid across all services sectors. Business and knowledge process outsourcing, media and entertainment, healthcare and hospitality and retail are all sectors which look subdued today but will be the drivers of a new sigmoid of growth as India swims through a nine month hiccup and emerges with a new will to build multi billion dollar domestic and export industries in each of these segments.
The long term story for India in the knowledge sector is robust with huge white spaces available for companies to build new value propositions and capture opportunity share. Indian entrepreneurs and CEOs will keep the fires burning and deliver a slew of new products and services that will compensate at least partly for any slowdown in the traditional services business. Aspiring techies should see this as an opportunity?understand the future directions of technology and the skills that will be needed in a fast changing world and the world can still be your oyster. Happy job hunting in the New Year and stay positive?IT remains India?s tomorrow.
?The writer is chairman of Nasscom and vice-chairman & MD of Zensar Technologies