There was a time when people were flocking to private sector jobs due promised high salaries & splendid career growth trajectories. It used to be a dream of youths to join a reputed MNCs.
Now, it is mostly due to cut-throat competition for govt. jobs & unavailability of jobs (i.e. presence of mass unemployment).
If you closely observe the pay hikes in pvt. sector it has been incremental. There are no signs of huge increase in pay. While in govt. sector with every Central Pay Commission the salary of employees increases significantly.
Due to cloud computing & technological disruptions in Artificial Intelligence less employees are required. So, companies are cutting down their pool of employees. The most favoured reason why people want to join govt. sector is job security.
Job security is a major issue. There is an overwhelming pressure in private jobs to keep learning new technologies & acquire new skills.
Another factor that has been significant for migration of people from pvt. jobs to govt. jobs is work-pressure (similar trend is visible in Police Department & Para-military forces i.e. their migration to other services)
There are various other factors that act as a cold blanket for private jobs are moving to a mega-city which increases the expenses by manifolds, high-attrition rate, negative feedbacks from workforce engaged in pvt. sector, lack of satisfaction, etc.
For long you cannot remain passionate about money. One has to get into something one really enjoys. How can a large percentage of people employed in private sector be happy glued to their laptops? Laptops aren’t real after all.
There is one more reason that is making waves in the private sector. It is a recent phenomenon. The companies are now focusing more on lateral entry positions with experience for employments. So, freshers are finding it difficult to get a job. The only option left for most freshers is to work in a start-up, as an intern or in an unorganised sector.
The main attraction for govt. jobs is hassle-free life & job security though pay might be less in many cases when compared to private job.
To sum up in few words,”दो टाइम चैन और सुख की रोटी।” is what has become the central attraction for govt. job.
With Great Love,
Er. Amit Yadav