“I dream of a young India that is not constrained by any limitations whatsoever. I want the youth of this country to lead a life filled with hope and opportunity.” — Narendra Modi

The gig economy of India is expected to expand at a yearly rate of 17%, reaching $455 billion by 2024, as Per Taggd’s Decoding Jobs 2023 India Report. It can create about 30% of jobs in the non-agricultural sectors and add 1.25% to India’s GDP in the coming years. Despite gig work being a predominantly new concept, limited to a few sectors, such as tech, media, designing, and logistics, the numbers indicate its potential to fulfill various service roles across industries.

Gig workers have emerged as the go-to source of labor in this new global economy.​ Technological advancements have facilitated the expansion of the gig economy in India, making it easier for gig workers (or freelancers) to find contractual work. 

Factors Influencing the Rise of the Gig Economy

• Changing Work Preferences

Taggd’s recent survey on the Best Companies to Work for 2023 revealed that 41% of professionals plan to shift to gig work compared to 33% in 2021 due to imminent factors such as better control over their work schedule and more autonomy. Professionals are now prioritizing work-life balance, flexibility at work, and the ability to choose work assignments. The changing preferences of professionals are a major factor in the gig economy’s growth. 

• The Startup Culture

India has been producing startups rapidly, making it the second-largest startup ecosystem in the world, with a valuation of over $341 billion. These young companies need a talented workforce but are limited by constraints like a tight budget and the inability to offer many other employment perks like PF contribution, overtime payments, paid leaves, etc. The gig economy provides an efficient and fast solution for businesses to outsource their core and on-demand operations without dealing with high hiring costs, long recruitment processes, and other regulations.

• Emerging Freelancing Platforms

The rise of freelancing platforms, such as Upwork and Truelancer, has been instrumental in the gig economy’s growth. Both startups and Fortune 500 companies have increased their reliance on these platforms.

Preparing for the Gig Economy

By 2030, India’s job landscape will become highly demanding due to the impact of AI and automation. Hence, you must be well-equipped with the necessary skills to navigate these changes and secure a position in the gig economy. 

Think of your career as a business rather than just a job if you want to prepare for the gig economy and be successful. 

• Explore Gig Opportunities

Mark Twain once said, “The secret of getting ahead is getting started.” This is especially relevant in the context of the gig economy because you need to get started with small gigs to understand if you are fit for this sector. The more you work on small gigs, the better you will understand the skills you need to acquire to thrive independently. 

• Gain Industry-specific Skills

Gaining industry-specific skills as a gig worker is important to stand out and remain competitive. Stay updated on the emerging skills in demand in your specific industry and invest in courses to acquire the same. Content creation, UX designing, and data analysis are some of the emerging gig roles in India that you can pursue.

The best way to utilize what you learn is to take up small gig work and put your knowledge into practice. Having specialized skills allows you to present yourself as an expert to potential clients and employers, as well as find more opportunities to further your career. 

• Search the Marketplace 

Before entering the gig economy, proactively seek potential clients who can offer consistent work opportunities. Identifying a few key customers can help you build a successful career.

Gig work platforms like Awign provide abundant opportunities for workers across India. With over 15L gig partners and 11 crore completed projects, Awign has become a reliable platform for gig work. The gig economy is expanding beyond blue-collar jobs, with a 240% increase in white-collar or high-skilled gig workers, especially in tech roles. 

• Build Your Visibility

In the gig economy, building a good professional reputation, collecting strong references, and mastering self-promotion are crucial for success. You can develop these qualities while you are still a full-time employee.

If you want to join the gig economy and excel at it, start marketing your expertise. Build your competitive reputation through your blog, website, or LinkedIn profile. Post your work on social media regularly to increase your chances of being seen by employers. 

I would like to conclude with what Pele said — “Success is no accident. It is hard work, perseverance, learning, studying, sacrifice, and most of all, love of what you are doing or learning to do.”

The gig economy is flourishing, offering a lot of opportunities for professionals to explore. So, develop the right skills, take up as many gig opportunities as possible, hone your existing skills, and never limit your potential.

About the Author

Pankaj Bansal is the Co-founder of PeopleStrong, Taggd, and Work Universe (a Fund investing in jobs and work tech). He is a non-executive director at Karmayogi Bharat (Capacity building or Civil Servants) and many other startups. Follow him on Twitter at @pankajbansalPB. 

By Pankaj Bansal

Co-founder of Taggd and Work Universe

The post How to Prepare for a Career in the Gig Economy? appeared first on .

“The glory of medicine is that it is constantly moving forward, that there is always more to learn. The ills of today do not cloud the horizon of tomorrow, but act as a spur to greater effort.”

— William James Mayo

The pharmaceutical industry in India is marching towards becoming a global hub for medicines and pharmaceutical equipment. It has also made rapid strides in vaccine development, and the industry is witnessing work on a mission-mode basis to set up pharma manufacturing parks across India to expand the country’s pharmaceutical influence worldwide.

According to the Decoding Jobs India Report 2023, the Indian pharmaceutical industry market is set to grow from $49 billion to $130 billion by 2030. To broaden their growth prospects and be future-ready in today’s tech-driven environment, companies are keen to hire digitally-skilled talent to fuel their next growth phase.

Current Job Outlook In the Pharmaceutical Industry

According to Mr. K Kulbhushan, Global Head and Vice President at Dr. Reddy’s, “As the pharmaceutical industry continues to advance in 2023, we will see a growing demand for professionals with skills in chemical engineering, machine learning, and artificial intelligence, as well as project management.”

At present, there are a total of 2.5 million people employed in this sector. The pharmaceutical sector is creating a surge in demand for new roles and opening up several job opportunities. The industry is optimistic about growth, and according to the Decoding Jobs India Report, the expected hiring intention of pharmaceutical employers in 2023 is 16% more than it was in 2022.

Jobs Opportunities In the Pharmaceutical Industry

The industry has scope for multiple roles– be it in cybersecurity to maintain the secrecy of medicinal formulations, blockchain to build resilient delivery models, or robotics and AI to make smarter assembly lines, there’s ample scope and opportunity for professionals from diverse digital skills backgrounds.

Let’s take a look at some of the high-demand jobs in the pharmaceutical industry. 

• Tech-based Roles

 Pharmaceutical executives are looking to reduce their product development costs and time. To achieve this, companies require talent skilled in machine learning, artificial intelligence, and static/dynamic simulation software. As per a study by Pharmaceutical Technology, 70% of drug development is already done by leveraging cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP).

• Quality Assurance & Manufacturing Roles

Quality assurance is one of the core domains of the pharmaceutical industry and is responsible for developing and implementing quality standards for manufacturing drugs and medical equipment. There are several new job opportunities in this department for candidates from BPM (Business Process Management) and  Lean Six Sigma backgrounds who can develop efficient error prevention techniques, streamline inventory management, and improve the material flow.

• Project Management Roles

Project management is another key area of focus for companies, with a focus on ensuring effective collaboration among the teams. This has led to an increase in demand for professionals with knowledge in implementing the agile working methodology.

• R&D Roles

Research and development (R&D) is at the heart of every pharmaceutical company; hence, the need for research-oriented professionals is always high. The Indian Government is also playing a crucial role in promoting R&D by allocating USD 419.2 million towards research and development initiatives taken by the Ministry of Health and Family Welfare.

This has led to job opportunities for scientific technicians who specialize in genomics, biochemistry, molecular biology, drug discovery, toxicology, and several other fields.

• Sales & Marketing Roles

Lastly, if we look at the non-technical side, companies are also looking for experienced sales and marketing professionals to gain a competitive advantage and build a strong relationship with their customers. This opens up doors for job seekers proficient in digital marketing, branding, social media management, and marketing strategy planning in this sector.

Mrs. Namrata Gill, HR Lead at Dr. Reddy’s, says that “The pharmaceutical sales market will require professionals who possess a strong understanding of marketing and product management to excel, as has also been stated in the Decoding Jobs India Report 2023.”

The Way Forward

The pharmaceutical industry is undergoing a digital shift, and there are several job opportunities available for professionals willing to upskill and reskill.

Besides technical skills, companies actively look for candidates with two main traits– strategic thinking and strong problem-solving. So, develop your skill set in these areas. Put in efforts to network with industry professionals and be active on social media to connect with the right people, and clinch the job opportunity of your choice.

Lastly, I would like to leave you with an inspirational quote from Henry Ford, founder of Ford Motor Company, “Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young.”

About the author

Pankaj Bansal is the Co- founder of Taggd and Work Universe (a Fund investing in jobs and work tech). He is a non-executive director at Karmayogi Bharat (Capacity building or Civil Servants) and many other startups. Follow him on Twitter at @pankajbansalPB.

By Dainik Bhaskar

The post Unlocking the Potential: Exploring High-Demand Jobs in the Growing Pharmaceutical Industry in India appeared first on .

Have you wondered what are the factors that influences a nation’s economic growth, or what determines the outcome of elections, and what ensures financial stability for every individual? The answer to all these questions is – jobs, or employment.

2022: A roller coaster for the job market

A retrospective look on 2022 tells us that it started on a positive note, with the first half of 2022 witnessing relatively strong hiring. However, Q2 FY22 onwards posted an altogether different story. Global recessionary fears and geopolitical conflicts dampened business sentiments across the world.

Recent months have seen a flurry of layoffs across the globe, especially in IT, sparking fear, uncertainty, and disruption for those affected. There is a palpable concern among employers and employees to know how the job market will shape up in 2023 amid these unprecedented times.

What can we expect in 2023?

As we enter 2023, even though the hiring sentiment seems a bit worn down, there is not a complete pause. The position of the Indian job market remains to be powerful, the population is young and growing, and is going to become the world’s largest labour force by 2027- indicating a large pool of potential employees to fill new roles and positions.

In the coming year, we expect a state of equilibrium – with growth continuing in pockets. We See That Many Segments Of Employers Will Be Optimistic About Their Hiring Activity In 2023 – With 45% Of Employers Surveyed Foreseeing Up To A 20% Increase In Hiring, As Per Decoding Jobs India 2023 Report By Taggd In Association With CII. While the global demand for Indian talent will start becoming visible around mid-2023, India’s job and employment landscape will be driven by domestic demand for talent. Domestic demand also spurred by rise in entrepreneurship, will be an important corner stone for employment. Let me share some positive hiring outlook and sectors in focus:

Pharmaceutical

With the new variant of covid and given India’s G20 Presidency, digital health innovation, achieving universal health coverage, delivery will take Center stage. This should give the employment generation a push in the next 6 to 8 months. Opportunities in medical research, healthcare administration, public health, nursing, and heavy focus on data science, API, AI/ML, R&D can be expected.

Manufacturing

Due to geopolitical reasons, Industry 4.0 and the “Make in India” initiative from the government, we are expecting manufacturing to grow in the next year and build domestic demand in the country. Organisations like Apple and Volvo are moving their innovation centres in India. As many as 50,000 direct jobs have been created in India since August last year, and this momentum is expected to continue.

Automotive

Amid increasing push towards environmental sustainability and Make In India, the auto sector’s job landscape will remain buoyant in 2023. Companies in Auto will look to hire people for product launches and green fuel technology. The top demands are for jobs like program managers, electronic and mechatronic engineers, expertise in fuel cells, system engineers, and AUTOSAR architecture.

Internet Business

Local e-commerce expects to grow on basis of domestic demand. Demand for delivery professionals, expertise in analytics, and performance marketing will drive employment in the sector in the coming year.

IT

Tech companies will be shifting their hiring focus on quality instead of quantity as we exit the market normalization phase. Given the over hiring done in the sector, hiring will not be as buoyant as it was in past, however, demand for niche talent like: DevOps, Cybersecurity, Blockchain, Robotic Process Automation, AR/VR in Online Gaming skills, will continue to persist.

Future of jobs

Confucious said “Choose a job you love, and you will never have to work a day in your life”, I would suggest- “Find love in the job you choose”. It’s essential for both individuals and organizations to stay flexible and adapt to changes in the job market.

As per India Skills Report 2023 by Wheebox, Taggd and CII, for the first time India reported a 50.3% employability score which means 50.03% of the test participants who were young were determined to be highly employable in total. Among the employable young population, 53.28% of women and 47.28% of men were deemed to be highly employable.

Successful job searching often involves a balance of both ‘science and art’, So, ask yourself:

1. Do you have the skills best suited to the roles for which you are applying?
2. If you have the right skills and knowledge, do you know it inside-out? If asked, can you speak on the subject for 2-3 minutes instantaneously and deeply?
3. How can you help your organization grow in the first 90 days of your job?

It’s important to approach the job search from the perspective of the hiring manager than only HR. If your answers to these questions are in the affirmative, rest assured, there are good jobs awaiting you. If not, start building up your skill stack, and gear up to be a part of India’s growth story!

About the author

Pankaj Bansal, is the Co-founder and Group CEO of PeopleStrong, Taggd and Wheebox. He is also a non-executive director at Karmayogi Bharat.

By Dainik Bhaskar

The post The Future of Jobs: Here’s What You Need to Know appeared first on .

With the government unlocking India, various companies have upped their hiring to accommodate the demand boom for their products and services. This has opened up plethora of opportunities for job seekers looking for a stable income.

” There will be a silver lining in sectors like edtech, ecommerce/internet, transport and logistics, as well as pharma that continue to hire. All of these sectors will need to hire talent for various roles, said experts, and skills in machine learning, data, AI will command a premium. “

Current Trend

The IT industry should see about half of the top ten IT services companies requiring fresh, top-rated tech talent, almost a third of the remaining services pool, and almost 15 to 18% of the high-tech product / internet or GICs going for it. As the Covid-19 lockdown lifts gradually and people begin their return to workplaces, there are some pockets of hope for jobseekers.

Future Scenario and Hiring Domains

Recruitment experts at Manpower, KellyOCG, PeopleStrong, and Xpheno predict that even as many sectors see widespread layoffs, there will be a silver lining in sectors like edtech, ecommerce/internet, transport and logistics, as well as pharma that continue to hire. All of these sectors will need to hire talent for various roles, said experts, and skills in machine learning, data, AI will command a premium. Supply is predominantly lower than demand in the transport and logistics sector, said Alok Kumar, senior director – Manpower. “Logistics platforms are already revamping their concepts to match the new market circumstances by enabling retailers to scale home delivery fast. E-commerce companies will need to hire for last-mile delivery executives and warehouse profiles,” Kumar told ET. Edtech platforms and office automation companies are expected to ramp up hiring plans, said Kamal Karanth, co-founder at Xpheno, a specialist staffing company. “Other sectors that will need to hire talent include pharma, medical devices and healthcare companies, which have seen a boom during the lockdown and will require talent in sales and marketing, engineering, research, as well as testing and customer support.” Given that the lockdown is rolled back some time by the end of May or June in a phased manner (in the metro locations particularly), the annual absorption of top tech talent is likely to be around 75,000 (best case scenario), says Karanth. The IT industry should see about half of the top ten IT services companies requiring fresh, top-rated tech talent, almost a third of the remaining services pool, and almost 15 to 18% of the high tech product / internet or GICs going for it. The pharma sector will have jobs up for grabs in testing, research and sales, said Devashish Sharma, founding member at human resources solutions firm Taggd by PeopleStrong. The new role of crisis manager will be in demand across sectors, said Francis Padamadan, senior director – RPO, KellyOCG. “Companies will want professionals who can help mitigate risks and losses from such similar global crises in future, and help coordinate smooth business continuity planning.” Companies that ET spoke to are ramping up their headcount. Edtech startup Testbook, which helps students prepare for government jobs, said it is scaling up content and increasing the current team size by 25% over the next six months, said CEO Ashutosh Kumar. Telemedicine startup ekincare – which services employees of 600-plus companies and their dependents – has witnessed a 221% rise in online doctor consultations since the emergence of the first Covid-19 cases in India, said Kiran Kalakuntala, its founder. “Since we have doctors on our own payroll, we may need to ramp up our team of doctors over the coming months,” Kalakuntala said. Logistics company Ecom Express will be hiring ground and frontline staff, and in other roles in data sciences, IT development, planning and engineering and strategy, said co-founder K Satyanarayana. Other companies like Razorpay, CSS Corp and Dream11 will be hiring as well.

This article was published on ET RISE

The post Silver lining for jobseekers as edtech, pharma, e-commerce, logistics sectors to continue hiring appeared first on .