Job Security, Soon To Be A Relic of the Past

From my childhood I have seen my father, my uncles go to work in the morning. Some walked, some cycled a few took a bus. They returned in the evening. Most of them were employed in government jobs. Jobs used to be routine. Salary those days was low. My father retired with a princely sum of Rs 500 per month. There was not much prospect of moving up in the career ladder. There were not many opportunities. People were also not as ambitious. All they had was job security. They knew that once in a government job, they would retire from there.  Job security had helped my parents generation to plan for education of their kids and plan a future for themselves, however, meagre it may be. Those were sixties and seventies.

Then India became bankrupt in the late eighties. Government was no longer able to pull massive machinery created overtime. There was no revenue to beyond paying salaries. So government decided to open up the economy of India and make it integrate with the rest of the world. India is now open to doing business. Private players, Indian as well as foreign are setting up shops. Government monopoly and government control on jobs is gradually fading away. In pre ecoomic liberalisation era, Indian economy grew by around 2 – 3%. In post liberalisation period Indian economy picked up momentum and grew close to 8% for more than a decade. Such economic growth in a big country with huge population has caught attention of investors, industrialists and multinational corporations. Many are trying to come to India. It should be borne in mind that big business are setting up shops for their cost advantage of doing business here, not necessarily for us. They will try to run a business with as little workforce as possible. Already, corporate lobby is pushing government to enact law that will allow business houses to hire and fire employees as and when business demands. Implicit in this demand that there may not be much job security in future. As someone, I think Naryana Murthy, said “Love Your Job, Not Your Company”. So Indians have to be prepared to move on from one job to another.

In the article, Multinationals Coming, Is India Ready?, I try to present the scenario that opening business may be good but job security will be a thing of the past. Indians have to be ready for such eventuality. India needs investment for growth. At the same time, India must create policies that may help Indians. Rules that work in the West, may not suit us Indians.

Multinationals Coming, Is India Ready? | Blogbigtime: http://t.co/jdLB8429TU

 Tags: Job Security, Government Job, Private Companies, Multinational Corporations, Indian Economy, Economic Liberalisation

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