Placement scenario in India :-
Unemployment is on the rise in the country. Jobs are on the decline. Placements scenario in colleges across the country is bleak. The job market is severely battered at present. India, being a country with the youngest population needs to harness its potential effectively to ensure the development of the nation.
Companies are offering very low salaries to even well-deserving candidates due to the abundance of alternative candidates. They have abundant applicants for a single post. India, being a labor surplus country, is reaping the results of overpopulation which have trickled down to jobs. As simple economics works, since the supply is abundant and the demand is low, the value of the candidates for companies is extremely low.
Despite offering low-salaries, the working hours are illogically high. 9 hours a day is the least an employee works in the private sector. The actual hours can be anywhere between 10 to 12 hrs a day. This leaves very less time for the individual for their personal development. In turn, they do not get the chance to make themselves competent to explore other fields of occupation. This forms a vicious circle where the individual gets stuck without any prospects of growth. The nature of work is also, in most cases, monotonous. The first 6-7 months are the months in which an individual really gets to develop but after that, it is only a repetition of the same things. This decreases the liveliness of the individual and kills creativity.
Also, very less number of the graduates are actually employed in the field that they did their graduation in. Most of them get employed in completely different fields, sometimes almost irrelevant to what they have studied in their colleges. Instances of engineers being employed in Sales roles, Mechanical engineers in IT jobs, etc. are very high and have become commonplace.
In comparison to corporate houses, start-ups are emerging as a savior of the job market in India. Though they offer a heavy workload but the work-environment, learning opportunities and growth potential are ample. The job roles are not monotonous and offer a great opportunity to learn for the graduates.
The blame does not entirely lie on the businesses and companies. The education system of the country is creating incompetent graduates. Businesses and corporate houses have time and again raised the issue unemployability of the candidates. Statistics show that 80% of India’s engineering graduates and 99% of MBA graduates are unemployable by the industry. Graduates do not have any relevant skill set required to be useful in the industry. What is taught in the college curriculum is, to a great extent, out-dated, irrelevant and only theoretical. Indian graduates lack highly in their practical knowledge and communication skills.
In light of the above information, it can be easily seen that education and job market of the country is long overdue for a serious overhaul. Some radical steps will have to be taken in order to ensure that the youth in our country have a bright future ahead of them.
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