Business trips will always be part of the corporate world whether one likes it or not. You need hotels to check in and flights to make it to your destination. In other words, at a time when the world is ridden with uncertainty it is important that job seekers try and choose those sectors that are resilient to economic upheavals.
The global job market may be down as the economic slowdown forces companies to downsize but some sectors will be able to overcome the ordeal.
Even as thousands are losing their jobs worldwide on deteriorating economic condition, India has a reason to cheer. Recession or no recession, one may fall ill, and hence will need a doctor.
A recent report released shows that all developing economies will get affected by the slowdown. However, the good news is that East Asian and South Asian economies are increasingly being seen as the growth drivers of the world.
Education has always been associated with aspirations of people. With global exposure, people’s aspirations are rising. In fact, this is one area where people are not ready to compromise. Besides private players are going all out to invest in education. According to a recent FICCI report on the private sector’s participation in the Indian higher education, the country has exhibited impressive growth over the last decade to become one of the world’s largest systems of higher education. With the Indian government’s radical reforms and massive expansion plans in the education sector, a lot more schools and colleges are going to be opened across the country, including rural areas.
Recession or no recession, every industry, at any given point of time, needs smart people to manage things efficiently. Hence there is a need for management specialists. At the same time, one has to remember that once a person becomes a specialist in one specific sector, he or she might find it difficult to switch to other sectors. However, management education is also undergoing changes with global executive programmes and multiple skills being the core areas. Acquisition of cultural reflexes and variable skills are the order of the day, which equip professionals for the times.
The healthcare industry has grown exponentially. To cater to the demographic changes, the healthcare sector will have to be about $100 billion in size contributing nearly eight to 10 % of the GDP. Also, with multispecialty hospitals opening up, there is a need for doctors, specialists and super-specialists who can cater to all segments of the society. Besides with the healthcare industry growing, providing health packages, opening new tests labs, introducing health insurance packages etc., will require a new breed of trained professionals.
With private players coming in, the insurance sector has opened up varied opportunities and avenues for freshers. Risk and uncertainty is a reality every company is faced with. While you can’t eliminate risk, managing risk – financial, environmental, political, could well be the difference between survival or bankruptcy. Every sector wants to go in for different kinds of insurance which goes beyond just the basic insurance. And it is these uncertain waters that risk managers and insurance industry professionals ply their trade. India is the fifth, largest life insurance market in the emerging insurance economies globally.
The entertainment sector has evolved from basic movie watching and listening to the radio to mobile entertainment and experiential entertainment. New forms of entertainment have come up in a big way. Even movie making has undergone a change with corporates investing in films and taking over the industry. This sector will grow with unique collaborations.
A career is a long term decision, so do not go by the flavour of the season. Pursue those areas where your interests and abilities allow you to be the best. If you are a student, strive to lay a strong foundation in your chosen core area and work on developing skills that will make them job-ready and employable. Regardless of employer across industry and sectors some personal attributes will always be desirable – be enthusiastic, flexible, willing to learn; eager for challenges and responsibility and most critically, learn to work in uncertainty in the ever changing and unmapped territory.
Then of course there is IT, engineering in all forms. It can be structural, Mechanical, Electrical, Mining, Electronics & Communication and can be in other formats. There are also careers in banking, insurance and even cost accountancy. If one is equipped with suitable education based on his or her aptitude there is no dearth of jobs and money.