Hiring Sentiment in India Declines by 16 Percent Due to Pandemic
9 Sep 2020
Hiring sentiment in India declines by 16 percentage points compared to the last time this year, according to the Manpower Group Employment Outlook survey. The survey suggests that hiring activity will be slow-paced with only 3% of companies recruiting hands in the next three months. The survey reports that 42 percent of employers are still unsure about the time-span they would require to revive the hiring process.
The pandemic has affected the vulnerable workforce in the informal sector. Reverse migration and fewer job opportunities major factors, robbing their sources of income. Even the white-collar workers had also witnessed major layoffs and a sluggish job market. Employment in manufacturing, aviation, and hospitality is the worst hit by the crisis. The Public administration and Education sector have the strongest Net Employment Outlook amongst other sectors.
Ministry of Finance’s tweet on 5th September that the recruitment for various government posts will continue par normalcy, came as a relief for many seeking government jobs. Improving productivity, engagement, and adoption of technology will help in job retention amidst COVID induced hardships.
Improving Internet penetration across rural India and increasing work from home opportunities can help revive the economy. The government is also working towards providing production-linked incentives, changes in labour law and leniency on tax returns to support private firms.