Speaking on Zee Media`s Bharat Bhagya Vidhata’s ‘Yuva Mange More’ show, the founder of Naukri.com, Sanjeev Bikhchandani says poor economic growth rate has negatively impacted the job creation process. Bikhchandani pushes youth to embrace entrepreneurship as a way of life. The lure of fixed income needs to be shunned to harness the latent spirit of entrepreneurship in the country.
Zee Research Group/Delhi
Sanjeev Bikhchandani, Executive vice chairman of Info Edge (India) Ltd has suggested youth to either do a relevant course or get some work experience even if it is available at a zero salary. He also encouraged youth to become an entrepreneur. He spoke at length on the issue of employing India in conversation with anchors Saurabh and Anant.
Asked to identify the ideal career choice by the audience comprising young students drawn from various colleges, Bikhchandani didn’t offer any ideal career path. “It depends on an individual. There are some bright candidates who become entrepreneurs from day one. An individual will decide when he is ready to become an entrepreneur,” opined Bikhchandani.
“Ingredients must for starting your own work include: good team of cofounders, good idea, first mover advantage, and the capital,” added Bikhchandani.
Referring to the lack of job opportunities in the current scenario, Bikhchandani asserted, “Employment market is closely indexed with GDP (gross domestic product) growth rate. Whenever there is a rise in GDP, there are many jobs for freshers also. However, slowdown in GDP growth rate will have a negative impact on the job creation process. In the present situation, it is not that there are no jobs but the number of jobs is not adequate.”
However, economic slowdown doesn’t affect the hiring activity at the top institutions like IITs and IIMs. Bikhchandani said, “Top of the pyramid always remains unaffected. However, the campus hiring of those colleges which are at the bottom of pyramid set adversely impacted.”
“Academic qualification is not everything. IITs/IIMs only open the door for the first job. Five years later, your work speaks for yourself. Hence, work experience is of utmost importance. Even the work experience of a BPO job is not worthless as it improves your selling and communication skills,” argued Bikhchandani. He iterated the need for work experience as a mandatory qualification for career growth.
Likewise, Jayanta Roy Chowdhury, senior journalist affirmed, “The relationship between an academic and professional career decreases with time, if you can prove that you can do a better job than a competitor from a reputed institute. Next time round, you will be judged at par with him despite the fact that he has had a better academic career than you.”
According to a report by the Confederation of Indian Industry (CII) and the Boston Consulting Group (BCG) (released in March 2013), over 65 per cent of Indian firms face difficulty in filling job vacancies with rightly skilled work force. Referring to the shortage of skilled manpower in the country, Bikhchandani said, “There is a talent deficit gap. People seeking jobs are rejected by companies and talent sought by companies is not easily available.”
Offering solutions to tackle the unemployment problem, Chowdhury opined, “While the macro solution is to remove the supply chain bottlenecks which will automatically create more jobs, the micro solution is to motivate yourself, adopt positive attitude, remain focused, retrain yourself, work with dedication, and lastly work in career areas that match your interests.”
Similarly, Bikhchandani suggested, “Macro solution is to revive the GDP growth rate of the country. Moreover traits like positive attitude, hard work, and persistence will definitely help the candidates in the long run.”
(The show airs on Tuesday@10 pm)