By: Shubham Ghosh
HIRING rates in India have recovered moderately in the last few months but yet the aftermath of the devastating second wave of the Covid-19 pandemic has left professionals in the country more vulnerable to the economic uncertainty, according to LinkedIn data.
The data have said that India’s hiring rate has recovered moderately from 10 per cent in April to 35 per cent in May. In March, the hiring rate on LinkedIn was 50 per cent. The revival in May was because of partial resumption of economic activities.
However, the overall the situation is still grim, especially for working women and young professionals.
“Working women are 4x less confident than working men, while the average time taken for new graduates to find jobs has increased from 2 to 3 months,” according to LinkedIn.
Finance, corporate services, manufacturing have shown improvements
Finance, corporate services, manufacturing, healthcare and hardware and networking are some of the dominant industries on LinkedIn that are actively hiring once the situation has looked up.
On the other hand, sectors like consumer goods, media and communications, automotive, marketing and advertisement and staffing and recruiting have seen a decline in recruitment.
It has also been said that more than nine in 10 companies in India are in the process of merging roles and looking to fill open roles internally. The top three functions with the highest internal mobility rate in India in 2020 included product management, consulting and program and project management.
While in 2020, when the pandemic reached the peak, the demand for specialised engineering, artificial influence, cybersecurity and data science roles took the centre stage. A year later, the demand for talent in information technology continued to surge as application developers, software engineers and SAP specialists emerged as the top three in-demand jobs today, as per LinkedIn’s May 2021 data.
The employment-oriented platform also said that burnout has become a reality in the post-Covid world.
“As this dynamic hustle for upskilling, tech-proofing, and recruiting continues, India’s workforce has slowly but surely arrived at the brink of collective burnout,” it said, adding that every second job-seeker in India now prioritises location, hours and work-life balance when looking for a job.