Emerging trends in job market

Emerging trends in job market

Impact of Globalization and quantum jump in information and communication technologies (ICT) has paved the way for emerging prospective courses with immense job potential. Recent findings reveal that this trend is gradually replacing the traditional sector. Study conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) revealed that information technology (IT), IT enabled sectors (IteS), Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), Legal Process Outsourcing (LPO), Aviation, Hospitality, Retail, Entertainment and Brokerages are some of the prospective areas. Study on ‘job opportunities in the emerging sectors’, named as ASSOCHAM Business Barometer (ABB) revealed that IT and IteS would be the most potential areas in the years to come. The study predicted that by 2010 IT &IteS and BPO sectors require 50 lakh and 23 lakh professionals respectively. KPO and LPO are emerging as the most lucrative areas with a predicted career potential of 2.5 lakh and 79000 each by 2010. Indian Aviation industry has recorded an annual growth rate of around 25 percent. By 2010 Aviation and Retail sectors can create around one lakh and 20 lakh job opportunities respectively. The study assessed the potential in animation and entertainment sectors.
The ASSOCHAM study is an eye opener for the students and parents. Considering the importance of prospective areas, institutions have to start courses, which cater the need for potential work force in India. Now a days more professionals are interested to study management courses from reputed business schools abroad. Retail management, transport management, agri-business, Hospitality management, computer management, supply chain management, aviation management, logistics and production management are some of the specialization areas in business schools. Many students are interested to take MBA from UK than USA. In UK they can complete MBA programme in one year. Moreover they can do part time work during their study period. Communication skill and English proficiency are the main criteria for getting better positions in BPO sectors. Technocrats and professionals can work in the KPO sector. LPO is one of the lucrative areas for law graduates.

Dr. T.P.Sethumadhavan

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