A lot of people are talking about work from home employment model in India these days. It means that the individual need not be physically present at their workplaces.
When a person engages with a company to do work on a contractual basis from their respective location without any long term commitment, they are known as freelancers. Gig jobs are similar to this model and include short term employment with a mediating platform.
While there is a surge in these modes of employment, students can encash the opportunities provided by work from home jobs. The affordable and improved internet connectivity has played an important in boosting this trend in India, especially in this decade.
As an enterprise, it is very important to consider an employee’s productive output before making a hire. This translates to better remuneration for competent applicants who are seasoned enough to take up the job.
Hiring a novice comes with its pros and cons, but ultimately, the businesses become conservative while recruiting such individuals due to the training costs and retention ratio post they start performing.
Having a student with prior work experience will attract more attention from employers than ones from reputed institutions and little domain knowledge.
This article discusses the benefits of such engagements for students and how they would play an instrumental role in the career development of the future generation.
Statistics Regarding Work from Home Jobs around the World
As per a study, Indians are leaders in the global freelancing landscape just after the United States. This is a significant shift because, previously, there were only two career aspirations after the Indian formal education: government job and a corporate job.
An individual can earn $59.15-84 per hour with five years experience or above while $44-49/hour for less seasoned people (source.)
What are the Problems Faced by Freshers due to Traditional Formal Education?
The conservative approach to education requires a standard curricular course which is to be completed over a span of three/four years in case of graduation and two years for majors.
Since these academic curricula are designed by institutional experts with limited exposure to the industry’s recent developments, the students fail to live up to the expectations of the real world once they get hired.
The gap between the academic teachings and industrial requirements has been experienced by every fresher owing to their low employability, which results in lower compensation in the initial stages.
The initial years of their careers are consumed in learning the real-world competencies through on the job training (OJT.)
The textbooks and evaluation models focus on the ability to grasp information and repeatability of problem-solving skills that are similar in nature. It also covers a large variety of subjects in limited time spans of semesters, which doesn’t require comprehensive knowledge of any subject to be maintained for a substantial amount of time.
The by-product of such an academic system is bound to deviate from the original purpose as in most of the cases, and it is either the parents or high school mark-sheets that decide the domain of students instead of their interests and aptitude.
So working part-time after college hours can help them develop their professional competencies and employability so that they can live up to the standard of the employment market.
“Formal education will make you a living. Self-education will make you a fortune.” -Jim Rohn.
The Reasons for a Student to opt for Work from Home Assignments on an Early Basis
The work from the home model is more suitable to the students because they can get exposure through contractual engagement with a multitude of enterprises without compromising their education.
Here’s the list of benefits availed under this model, especially for the student community in India as a part of paid informal learning benefits:
1. Exposure of Global Market
There is an abundance of opportunities for each field, ranging from graphics designing to programming to choose from, and there no constraints to selecting projects based on the geographical location or even time zones.
As a student, you can work from your home or college hostel to provide the service to any client around the globe. This is an unprecedented opportunity as you get a chance to leverage from the trends, technologies, and working methods while their regular college degrees won’t provide any exposure to the actual work you have to do once you graduate. This is a huge leap, while it also helps in diversifying one’s skill set.
2. Flexibility and Freedom
There is no requirement to be academically qualified for the work you are willing to do. This means that you can apply for coding assignments by providing a portfolio of your previous work, even if you are a mechanical engineer.
Having flexibility will enhance your chances of career success as it would not restrict your choices to the course you are pursuing.
Also, you can decide your own working terms such as the pricing, working hours, number of clients, and take holidays with complete freedom over all aspects of your professional engagement. This will ensure that the studies won’t be affected during the exam period while you could earn extra in the vacations.
3. Financial Independence
We all know the struggle faced due to lack of pocket money, especially in the case of hostelites.
Working from their respective places will enable the students to earn extra income as per their skills to become financially independent. It is also more affordable as compared to the fixed, part-time jobs because there are no transportation and food costs involved.
Also, their incomes are scalable, which means that you can earn more with an increase in your competencies and domain expertise that helps you gain a commanding income by the time they pass out.
Financial independence also boosts the confidence of students becoming a great contributor to one’s professional development.
4. Full-time Employment post Studies with Higher Compensation
Since there is enough experience of working on industrial projects, the employability of the students will be at par with the real world’s expected standards.
They are ready to join their full-time employment posts right after college and deliver to the mark. This also means that they will be offered higher compensation as compared to the students who only have academic qualifications for the same job.
It is also worthy to note that the education loan repayment is a significant challenge for freshers who have to look after personal and family needs after their studies end.
In most cases, low salary packages are huge setbacks, mainly because money is needed to meet the financial liabilities of loans.
“Don’t confuse education with schooling, I didn’t go to Harvard, but people who work for me did” -Elon Musk.
Most of the young entrepreneurs start their business after they spent at least a couple of years in the field. In work from home model, the students act as the front-line sales associates and CEOs of their personal business since they work for themselves instead of companies.
As a result, these individuals have a higher entrepreneurial aptitude, which helps them kick off their businesses even before they complete their college degree like in the case of Mark Zuckerberg of Facebook.
Harnessing talent with work experience will develop young minds who can contribute to society through innovative businesses that tap newer technologies and services.
What are the Benefits for Businesses that Provide work from Home Jobs?
These employers can save infrastructure, HR, and Payroll costs, such as statutory compliance and employee benefits.
Also, the quality of work is higher with timing deadlines, which helps in outsourcing work that is not strategically important for them, and external talent has continuous availability for the same.
They can access a vast pool of talent for each requirement without limiting their choices due to geographical limitations. Owing to these reasons, the businesses would be extremely keen to hire students for such projects.
Your Piece of the Pie
The importance of career development is discussed by every person, but it cannot be done in the classrooms where the syllabus either focuses on concept building or the technologies used before decades.
One needs to have practical experience of their subjects or areas of interest apart from theoretical knowledge. The gap between the conceptual and industry-specific domain knowledge can only be done if you engage in the real environment.
We all need to remember that education is a tool to explore horizons of professional development and not limit it. In the 21st century’s competitive environment taking up work from home, jobs are not limited to choices but essential to career development and realization of one’s potential.
Especially in a situation where traditional job profiles are disappearing due to technological advancements bisecting the talent market into high skill and low skill segment, thus eliminating mediocre profiles.
Diversification of skills and competencies will act as insurance and equity at the same time. So, if you are a student, go for a work from home job to be employable at the time of graduation or launch your startup.
You can also apply for an internship in Indore that will increase your chances of getting accepted for a serious job profile.