Article (August-2017)

Articles

Staying updated has never turned out to be insignificant

Sanjay Bahl

Designation : -   CEO and Managing Director

Organization : -  Centum Learning, New Delhi

01-Aug-2017

1. How do you see the scenario of mass layoffs in IT sector to change in future?
Ans. I think the advent of new opportunities await those who are willing to diversify their skill - sets by utilizing this short term uncertainty. Right skills are the key building blocks for the industry and companies too are intensifying investment in up-skilling or re-skilling workforces to strengthen their foundations on a continuous basis. 'Catch them young' is the mantra now being adopted by these companies.
 
2. What all sectors and functions will be highly impacted by job cuts?
Ans. More than job cuts, the uncertainties in global markets, is causing employers in India to adopt a wait-and-watch policy. This is probably the reason we are not seeing them commit to the same optimistic hiring plans. Today, while use of new technologies and digital transformation is a must for any business organization, areas where human assessment and involvement is required will not be affected as decisions, opinions and logic cannot be outdone or replaced. With PM's "Made in India" and "Skill India" campaign at full swing, we feel that India is completely in the right pace to bring the competitive advantage through right skilling and talent. 
 
3. Is there a greater need than ever to stay updated, up-skill, re-skill and remain employable?
Ans. Technology is advancing at a superior pace and its adoption over the years has made it necessary to invest in up-skilling. This paradigm shift has compelled people to transform and up-skill themselves. According to a recent NASSCOM report, over 40 percent of the estimated 4 million workforce in India need re-skilling to keep pace with automation within the next five years. We can look at this as an opportunity, since there is now a growing demand amongst the IT giants for skilled professionals.