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Randstad’s Workmonitor survey reveals that 66% of young people and 79% of older people in India are struggling to find suitable work. As a result, 79% of young people and 71% of older people have accepted jobs below their level of education.
Young people, below the age of 25, responded that 76% would consider moving abroad to find a suitable job. Older people, above the age of 55, responded that 57% would move abroad to find work. Across all age ranges, 73% of Indians would relocate for a suitable job, significantly more than the world average of 47%.
Work experience is perceived as the biggest stumbling block for young Indians looking to secure employment. 91% of those surveyed believe that experience outweighs education for all age ranges and 82% responded that experience trumps educated for younger people. This compares to global averages of 81% and 69% respectively.
In order to secure employment, 69% responded that they would be willing to exchange part of their salary. This is nearly double to global average of 39%. However, only 76% of those surveyed would rather have a temporary job than no job at all, lower than the global average of 88%. A higher proportion of Indian’s responded that temporary work is for young people; 59% compared with the global average of 43%. Female respondents felt more strongly that temporary work was for young people, with 67% compared with 54% of male respondents.
The recruitment outlook for India is mixed. Indian graduates are expected to face a tougher job market. Asian Age reports that hiring ratios for companies has been 70:30 for graduates to experienced applicants. This is now expected to change to 50:50 for most companies, with some reducing graduate recruitment even further to 40:60.
Sunil Goel, managing director of recruitment form GlobalHunt commented: “Expectations from the campuses have also gone down as experienced resources are easily available at [a] similar price. So, the companies are preferring to hire from the market than [go] to campuses [to recruit].”
IT recruitment has traditionally been a big employer of graduates, with 180,000 recruited last year. It is expected that an estimated 120,000 new jobs to be created this year, a reduction of -30%. According to zeenews.India.com, the number of IT graduates in 2005 was 365,000 rising to 1.3 million in 2012.
For further information on the Randstad Workmonitor survey, please click link below.