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“When one gives, two get happy.” ― Amit Kalantri, Wealth of Words

 

To have a social impact on a large audience, we strived to have a “Dream”, which is the term used to refer to a thought that aligns with the objective of the quotes mentioned above.

 

India's recent employment growth reflects a promising trend, with an 8% increase over the last four years, bringing employment to 12 crore people as of FY23. The Indian government's current focus is on further boosting employment, with a target of adding 78 lakh jobs in the next two years. This is an essential step in tackling the needs of a young population, as 65% of Indians are under 35, yet many lack the specific skills demanded by today’s economy.

 

Looking toward the long-term goal of creating 30 crore jobs over the next decade, skill development becomes critical. By investing in upskilling and training programs tailored to emerging sectors, India can better prepare its youth for meaningful employment, fueling economic growth while addressing the skill gap in a fast-evolving job market.

 

The initiative by Dream Refer to bridge the gap between job seekers and employers is both timely and impactful, given India's ambitious job creation targets and the large youth population in need of employment opportunities. Here's a quick analysis of the phased approach outlined:

 

Phase 1

 

This phase focuses on broadening the reach of job referrals, a crucial element since referrals often remain limited within a small circle of internal employees. By expanding the network of job seekers available to employees with referral opportunities, Dream Refer could help reduce employer dependency on traditional hiring teams and consultancies. This approach may also help employers meet hiring needs more quickly and cost-effectively, given that referred candidates often have higher retention and faster onboarding rates.

 

Phase 2

 

The second phase, which introduces scoring for job seekers based on multiple criteria, could further enhance the quality of matches between job seekers and employers. With a standardized scoring system, employers could make more informed hiring decisions, and job seekers might gain insights into areas they could improve to enhance their employability.

 

Broader Implications

 

Overall, Dream Refer’s solution could help scale employment opportunities across India by connecting talent with opportunities more efficiently. The service-based phased rollouts seem designed to solve pressing issues in the hiring process, from reducing time and cost to broadening talent access and improving quality through candidate scoring.

If you’d like further insights on any aspect or need specific suggestions, feel free to ask!