(i) India must focus on a comprehensive policy framework that addresses three key pillars in an integrated manner:
- A calibrated national talent management approach through a deeper labour market analysis as talent scarcity, surprisingly or not, is also on the rise.
- Introducing strong elements of technology and innovation into the country’s education curriculum, backed by systematic institutional collaboration.
- Focus on broadening and/or enhancing existing skill development/re-skilling programmes, including planning around job rotation and mobility support.
(ii) Cities have always been durable hubs of economic progress and job creation because of the concentrated networks of specialized talent they create. Government should focus on creating more and more cities in planned manner.
(iii) People may have jobs, but they’re not the jobs they want. They lack the purpose, stability, and opportunity for advancement that give their work meaning and dignity.
Any approach to this issue should focus on two key issues. The first is to create new jobs that are accessible to broader geographies and demographics. The second is to provide these workers with the retraining in the skills they need for those jobs.
(iv) For knowledge workers, technology has weakened this geographical stranglehold.
Government should try to rectify this in prioritized manner.
(v) Governments should focus on not just employment rates, but on the metrics that measure the quality of the jobs being created – part-time workers, rapid job turnover, contract labour, and wage growth stagnation, to name a few.
(vi) Technology is a force that has the potential to eliminate entire industries through robotics and automation, and for that government should be concerned.