Are we going to see a change in the way people will be employed in India going forward ?
Here are some of the points which I can think of related to this topic :
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big change that is already underway from last 2 years thanks to pandemic - Work from home. This was something unimaginable for 99% firms before the pandemic but after that, it has become quite common. looking at the way things are working for both employees n companies, this is most likely to stay.
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There’s one more possible impact of growing remote work culture…people may openly take up multiple income earning ventures.
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From many years, I have personally seen many frnds and young ppl go abroad in the name of studies to do part time jobs which pay them 4-5x of what they used to get in India and most of these jobs were contract based and the payment is generally based on number of hours worked. This number (of ppl going abroad) has only started growing more n more in the recent years.
Do we need more regulation when it comes to employment in India ?
If our aspiration is to become a developed economy, we would naturally look to emulate their methods and models but is it really possible practically to do it a scale in a country with huge population like ours ?
Contract jobs basically pay good amts but as they are for the short duration, there is a worry of job security which is quite an important factor in our country as we see many job seekers give years to crack govt jobs.
- Will India slowly change and do contract jobs more as compliances are less for employer and that in general leads to higher wages as the job is basically task oriented.
There are too many nuances to this topic that I guess cant be covered in a single post. Do share your thoughts on this topic on how we see the scope of employment types and opportunities shaping in our country going forward.
PS : Not exactly a post related to markets directly ,But, it has a bearing on the economy directly and eventually on the markets too.