By Taruka Srivastav
There has been a paradigm shift in the thought process of Indian parents who have now become more liberal and are allowing their kids to explore career choices and pursue whatever field they are passionate about.
According to the ‘Young India Study’, conducted by Talentedge and Kantar TNS, there has been a rise in certification courses in analytics and digital marketing, which have grown by 218% and 419% respectively among Indian millennials. This can provide a massive boost to the Indian government’s Digital India and Skill India campaign.
The Drum spoke to Aditya Malik, chief executive offer and managing director of Talentedge, who said,:“Young Indian Millennials are optimists; especially from bigger metros like Mumbai and Delhi. With the pace getting faster, they are flexible with their plans and hence focus on short term goals. This makes it imperative to learn continuously and focus on constant skill development for successful careers in the future. There is a paradigm shift from jobs to passion. Most millennials believe in creating their own path to success, rather than following one. “
Unconventional and new career choices will dominate Indian millennials but this may lead to more creativity and innovation, according to experts. However, they also cautioned that it required much more effort and diligence. For example sports and theatre, which were just regarded co-curricular activities, are now being taken up as full fledged career by Indian millennials.
The study suggested a rise in entrepreneurship as its more self-defining, unlike the corporate jobs, which are more exhausting for them. Employers will face a tough job of retaining these millennial employees as these employees seek instant rewards and gratification.
The Drum also spoke to Tarusha Mittal, chief operating officer and co-founder of Koonk Technologies, who decided to become an entrepreneur rather than work for a corporate.
She said: “Millennials have started grasping the concept that they need to go after what they believe in professionally- because work occupies a major part of our lives. This is driving a change in the way that socio-economic society is moving forth in India. I always wanted to build my own dreams. With a problem solving mindset, I set out right after school and after the initial hesitation, my parents have been supportive too.”
This is a part of the reason why the startup culture is booming in India. According to YourStory Research, in 2016 Indian startups saw $4 billion in risk capital being deployed across 1,040 angel and VC/PE deals between January and December 2016.
The study also revealed that for Young India, whilst brutal optimism is positive, there is also a need for the youth to equip themselves to be ‘future ready’. Value of the basic degree will remain the same.
Ritika Goswami, account director, Kantar TNS India, said: “The rules of engagement are changing. If a company needs to keep young employees motivated, it must create a sense of growth by giving them short term goals and ensure a work-life balance. Personal goals today are as important as professional goals.”
Thomson Reuters forecasted that by 2020, India is to be the youngest country in the world, with a median age of 29, and by 2025 about 20% of the world’s working-age population will live in India. Therefore, it is quintessential for the Indian government as well as the corporate sector to make sure the policies befit the millennials.
Source: The Drum