The document compares and contrasts the earlier economy and the new economy across several factors. It discusses differences in industry analysis, job opportunities, employee profiles, expectations, remuneration objectives and structures, and likely future trends between the two economies. It highlights aspects of the new economy like intense competition, global opportunities, multiple roles and careers, performance-linked pay, and an emphasis on developing employability for the future.
5. Job Opportunities
Earlier Economy Vs. New Economy
• Limited type of roles/careers
• Roles for ‘qualified’ people
• Low salary differentiation
across Industries
• Multiple roles/careers
• Reducing linkage between
qualification and role
• Rapid growth in base salary
levels
6. Profile
Earlier Economy Vs. New Economy
• Graduates or Engineers
• Few Post graduates
/management graduates
• Savings mentality
• Stature conscious
• Mindset about select type
of careers
• Specialists in addition to
regular professionals
• Mentality to:
–Spend
–Get rich quick
• Open to multiple careers
• Increasing consciousness of
what I want
7. Expectations
Earlier Economy Vs. New Economy
• Having a good job
• Long term association
with a company
• Growth over a period
• What I get determines where
I go
• Short associations
• Rapid growth
8. Remuneration Objective
Earlier Economy Vs. New Economy
• Pay for qualification and
Experience
• Differentiate through overt
Symbols
• Exploit tax loopholes
• Attract & retain talent
• Pay based on value
• Be legally compliant
9. Remuneration Structure
Earlier Economy Vs. New Economy
• Multiple allowances
• Grade based perks
• No performance linked pay
Fixed pay –With freedom to
individual
Performance linked incentives
ESOP
11. Future Trends
• Qualification v/s Role mismatch
• Money …. search for satisfaction
• Increasing awareness of interests
• Short tenures: investment in Individuals dilemmas
• Need for continued relevance : Current employability v/s
future
• Employability
12. The Future Trend of Employees
• Creating wholesomeness for individuals
• Freedom to Individual
• Organization driven
13. Hypothesis on future Remuneration Trends
• Net Present Value v/s Future Earning Value Enhancer
• Building employability value
• Shifting focus from present to present & future
• Individualized / Customized Remuneration:
• Different drivers for different People
• Based on individual interests
18. Where is the Gap???
• Attitude
• Domain Knowledge
• Self Confidence
• Communication
19. If you don't think and plan your career
Wrong choice may lead you to a
dark door !!!
20. What Freshers Do???
• Package
• Brand Name
• Bond Duration
• Training
• Sacrifice their interest for money
• Solely depend on Institute
• Designation and position
• Location
21. What Corporate Expects From Freshers ???
• Right Attitude
• Hardwork
• Quick Learner
• Honesty
•
• Longevity & Integrity
• Creative & Energetic
( Hire for right attitude and train for skill )
22. The Gap
What Corporate expects and what they actually get.
Parameters Industruy
Expectation
Performance Gap
Attitude & Ability to learn 93% 47% 43%
Domain Knowledge 92% 30% 62%
Commitment & Dedication 94% 37% 57%
Self Motivation 92% 37% 55%
Ethical Behaviour 87% 42% 45%
Self Decipline 93% 34% 59%
23.
24. Your Next Step
• Develope positive attitude
• Retention & use of knowledge
• Plan your work and work your plan
• Challenge yourself to sharpen your skills
• Push your limits
• Do it for the cause, cause is for yourself
25. Skills For Success In The Industry
● Combination of generalist and
specialist knowledge
● Good communication skills
● Effective interpersonal skills
● Apply appropriate theoretical and
practical knowledge
● A personal commitment to
professional standards