In the 21st-century, every decade up till now has been shaped by some major event right in the initial years. The 2000s started with the dot-com bust. The 2010s began with the Great Recession. And now, the 2020 decade is starting with a global health crisis with large-scale economic implications. Every time throughout this phase, the job market has changed drastically. What bloomed previously slumped after the event and the demand shifted to somewhere else taking the hiring spree with it. The next decade is going to be no different. A few industries will suffer after the coronavirus blows over while others will ramp up their investments to prevent future failures. This post lists a few such industries where jobs for managers are likely to be abundant in the following decade, both on a domestic and international level.
This is a no-brainer. The healthcare systems of even the developed countries are suffering now and showing the loopholes that had been hiding till now. Post-2020, almost all countries are bound to invest heavily in their healthcare infrastructure and that will mean more hiring of managers by hospital chains, pharmaceutical companies, health data management companies and so on. More PGDM colleges in Delhi are likely to prepare their students for this sector as the demand will come soon. The global market was already slated to rise by almost 121% by 2026 and the coronavirus pandemic will only accelerate that rate.
Along with the world’s health, its supply chain is also suffering currently. The surmounting demand for medical equipment has crippled countries where the distribution network is not adequate to balance supply and demand. More niche supply chain companies are bound to come up owing to the visible pain points. Firms that already have a functioning wing will expand their resources to accommodate crisis-level demands adequately. Naturally, increased resources will require an increased number of managers and after healthcare, this industry will go on a hiring spree of PGDM graduates.
Greater supply can only happen when there is greater production. And increased production will require more warehouses to store the surplus. Plus, another aspect of the current weakened supply chain is the fragmented distribution channel. India’s heavy dependency on roads is showing that the country’s economy is still not infrastructurally ready to handle a crisis. The 2020 decade will ramp up investments in infrastructure. And that means roads, railways, shipping and aviation will see a boost combined with an increased number of warehouses at various places. The mba pgdm colleges in delhi ncr will see greater campus recruitments from this sector as there is simply no alternative but to accelerate.
Veteran economists have already noted that the current economic crisis can be reversed effectively by the banking and financial services sector as they are not the underlying reason for the situation. These institutions hold the direct capacity to restart adequate cash flow in the economy, keep inflation in check and revive businesses to lower unemployment. Similarly, insurance companies are also likely to see new requests in both personal and corporate domains as people are realising how fragile systems can be. The BFSI sector will steer the revival and naturally, the search will be on for innovative managers.
If you are already familiar with the terms like artificial intelligence, machine learning, cloud computing and big data, then you must know the potential that the technology sector holds in the future job market. Add to that the upcoming trends of 5G, self-driving cars, drone delivery and so on. The global stock market in technology rose by almost 300% in the last decade. And this sector is not going to bow soon. Sure, the engineers and the technicians hold the key in creating the required technologies but it is always the managers who run the company. The overwhelming demand was already creating managerial jobs left and right. With the right skills, you can step into a ripe market in the next decade.
On the other end, the tourism and hospitality sector will take a nosedive post-2020. Consumer transportation is already taking a hit. However, if things go right, these might revive in the latter half of this decade and hiring will begin again once the revenue stabilises. In EMPI, one of the top schools in the top pgdm colleges in Delhi, you prepare according to the market. The B-school adapts as per the macro movements and teaches its students to be job-ready no matter the situation. The goal is to always direct you towards the positive side of the fence. You need to train for only those companies where growth opportunities exist in abundance during your professional lifetime.