I keep getting calls and meeting requests from friends and from people in my network to ask my advice about the career. Most of them are in mid-40 or in mid-50. They are looking for new opportunities or looking for some new career because of some insecurities in their current jobs. Some companies’ management has certain views about ageing workforce, especially those who are above 40-45. In case of any restructuring, this is the population which is mostly axed.
India is a country of young people. It is expected that the average age of Indian will be 30 years by 2020. Unemployment rate in India today is almost 6%. At one side there is young talent ready to come in the workforce, at other side workforce above 45 is becoming costly if they are not acquiring new skills or adding value to the organization. This is a severe problem in service, IT industries where employee cost is the main component of expenses.
As young generation is easily available, employees who are above 45-50 have not focused to develop their skill sets and competence. Most of the time, once they get a job, they go in a comfort level. Sometimes organizations just exploit their needed skill set with less focus on future development. But when organizations are not investing you, it is crucial that you invest in yourself.
Artificial Intelligence, Machine Learning, Robots are already coming in the workforce which are replacing human beings. Automation is taking jobs away. If you are in the job of repetitive nature, you are easily replaced by robots (automation). This can happen in account payable where payments can be processed automatically; this can happen in manufacturing; this also can happen in the customer service where customer service executives are replaced with chatbot. Going forwards, there will be no salesperson in the field, and more will be consultants to customers who will sell the value proposition and help customers to improve their profitability. Instead of selling products, you will sell the value proposition to the customer. Customers are much educated and aware about their requirements. They already study the products and make comparisons, only they need to check the look and feel of the product and what value that product will bring to them, their processes etc.
The decision of buying something is made on the computer or internet after discussion with family in case of domestic/consumer product or with team in case of industrial product. In such a scenario, do we need sales managers. Perhaps no, we need a person who is beyond the sales manager, typical marketing manager. This is applicable in all professionals. HR managers needs to be more than just handling generalist HR and same is for finance managers. Nowadays, we need business partners in each profession. They are experts in their profession, but they are also strong in soft skills with leadership behaviours. They need to apply their knowledge which is not done by typical professional. In short if you can think differently, you manage different stakeholders, you understand what customer desires, you know how businesses work and you know how to solve the problems, you have more chances to survive during turbulent period.
India is a country of young people. It is expected that the average age of Indian will be 30 years by 2020. Unemployment rate in India today is almost 6%. At one side there is young talent ready to come in the workforce, at other side workforce above 45 is becoming costly if they are not acquiring new skills or adding value to the organization. This is a severe problem in service, IT industries where employee cost is the main component of expenses.
As young generation is easily available, employees who are above 45-50 have not focused to develop their skill sets and competence. Most of the time, once they get a job, they go in a comfort level. Sometimes organizations just exploit their needed skill set with less focus on future development. But when organizations are not investing you, it is crucial that you invest in yourself.
Artificial Intelligence, Machine Learning, Robots are already coming in the workforce which are replacing human beings. Automation is taking jobs away. If you are in the job of repetitive nature, you are easily replaced by robots (automation). This can happen in account payable where payments can be processed automatically; this can happen in manufacturing; this also can happen in the customer service where customer service executives are replaced with chatbot. Going forwards, there will be no salesperson in the field, and more will be consultants to customers who will sell the value proposition and help customers to improve their profitability. Instead of selling products, you will sell the value proposition to the customer. Customers are much educated and aware about their requirements. They already study the products and make comparisons, only they need to check the look and feel of the product and what value that product will bring to them, their processes etc.
The decision of buying something is made on the computer or internet after discussion with family in case of domestic/consumer product or with team in case of industrial product. In such a scenario, do we need sales managers. Perhaps no, we need a person who is beyond the sales manager, typical marketing manager. This is applicable in all professionals. HR managers needs to be more than just handling generalist HR and same is for finance managers. Nowadays, we need business partners in each profession. They are experts in their profession, but they are also strong in soft skills with leadership behaviours. They need to apply their knowledge which is not done by typical professional. In short if you can think differently, you manage different stakeholders, you understand what customer desires, you know how businesses work and you know how to solve the problems, you have more chances to survive during turbulent period.
6 comments:
Wonderful article Sir
Well articulated. This is the reality. Being a HR our responsibility to take proactive action pertaining to this
We as HR personnel should take an ineciative
Blended approach to raise employability is relevant and is to be promoted/ encouraged for risk- mitigation. Leaders , parents have to demonstrate often - learning is for change and it helps in raising performance in overall sense .
My belief is - skill set and mindset both needs to be strengthened and this journey is to be lead by individuals , if organisation supports these aspects, its a gift & blessing.
Very true sir. We should be the architect of our career and should invest in reskilling ourselves.
Very well said Vinod. Learning is the key to successful career. It is for everyone however those above 45-50 need it most if they are not keeping space with the time. I think work life after 20 plus years of experience is really very interesting provided you are willing to learn and unlearn, develop new habits and so on... Unfortunately not many are very sincere about learning. One must invest on him to learn the desired skills and develop his/her competencies.
Post a Comment