The COVID-19 pandemic has changed the employment landscape for aspiring students in business schools. Millions have lost their jobs; people are facing salary cuts across different sectors and companies are becoming more cautious in hiring new talents. With unemployment skyrocketing one thing is for sure that workplaces will never be the same.
However, the good news is that the new work-from-home revolution has opened up new opportunities riding on digital platforms diminishing boundaries. There is always scope for job opportunities for aspiring students who upgrade their skills and knowledge based on the current demand in the market.
New employment framework:
Management graduates experience bleak job prospects owing to the coronavirus crisis. There are surveys that state that 93% of business schools are currently experiencing extensive hiring freeze. There is an atmosphere of fear prevailing but if you know the art of taking challenges head-on then you will never lose.
Transformation of every industry will depend on its Agility, Digital Transformation, and its Work from Home Culture.
Not only are jobs being modified but also the way at which it has been done. Aspiring students have to familiarise themselves with technology enabled assignment-based jobs. Gig Workers are high in demand. Students need to shift their mindset from a typical salaried employee basis to a consultant/freelancer mode. It will give you all the more flexibility to explore various fields and get paid fairly for the work you do.
Literacy will no longer mean the capability to read and write, but the ability to learn, unlearn, and relearn. There is an undeniable demand for technological innovation. Upgrading oneself with new tools and skills are required to survive in the post-COVID world. Rather than waiting for the economy to return to normalcy and victimizing oneself focus on becoming a problem-solver with an entrepreneurial mindset.
Sectors that will emerge as winners in a post-pandemic economy:
A drastic change in consumer behaviour and preferences are expected in the near future. And as a result of which there is a possibility for new players to emerge as leaders in the market. The availability and ease of technology usage has enabled people to smoothly adapt to the new normal.
These are few of the sectors that will flourish post-COVID 19without too much losses.IT & ITES, Finance & Banking, Healthcare, Robotics, FMCG, BFSI and all tech-based services are likely to be impacted less. There will definitely be cataclysmic changes in structure and service, but job losses will be negligible.
Since a lot of jobs will move to work from home (WFH) with new protocols there will be a rise in demand for higher security levels. Thus, services like broadband, home delivery, online classes, and meeting apps will largely survive the pandemic and are most likely to rebound to even higher levels than earlier.
Beware of sectors that will take a longer revival path. To name a few Tourism, Real Estate, Automobiles, Apparels, Beauty, and Wellness will not be able to bounce back immediately.
Recently, Prof. Mahadeo Jaiswal, Director IIM Sambalpur addressed the students at the Virtual Town Hall Session on “Our Strategy in Disruptive Era” where he made students look at the path of this global change optimistically. Prof. Jaiswal encouraged the participants to look at this disaster due to global pandemic from a disruptive innovation lens that will help create a new pool of opportunities in the market. “We need to shift our focus from transaction-based large enterprises to innovation-based micro, small and medium enterprises (MSME). We need to create unique value propositions in the disruptive era. It is fresh new innovative ideas that shall help make India a brand.” he quoted. He also highlighted how IIM Sambalpur is planning to work with industries closely for co-creation of value. Tying up with emerging companies from the very beginning for projects will help the entire ecosystem – Students will get exposure, on the other hand, the companies will get fresh minds working on innovative solutions. Moreover, Prof. Jaiswal highlighted that in this disruption era we will see huge job creation in consulting, e-commerce, and marketing domains.
Essential job skills to develop to survive in the post COVID-19 world:
We are all compelled to accept that we cannot continue doing things the way they were
done during the Pre-Covid period. It is the need of the hour to evolve and grow in order to
adapt to the new normal.
- It is always a good decision to learn something new and relevant to the industry needs. Look at acquiring new skills and adding diversity of experiences
- Never ever shy away from using new technologies to your advantage
- Individuals who are able to come up with innovative ideas that can be commercialized are going to grab good opportunities
- Your ability to be flexible and adaptive to changes will take you to places
- The art of practicing patience and perseverance at work will be rewarded
- Keeping aside one’s ego/complains aside will help in the longer run
While the challenges remain universal, it all boils down to how you convert them into opportunities. For further guidance, you can connect with the placement committee at IIM Sambalpur. It efficiently heads and incorporates placement and career advisory activities to guide students in choosing the right career paths and imbibes adequate knowledge, skills, and aptitude in them on behalf of the institute.
They ensure all students get the maximum exposure in the industry in lieu of live projects, leadership connects, summer internship programs, and final placements. You can get in touch with them at email@example.com