Lock Down and its Impact on the Recruitment Industry in 2020
The bad news that started in 2020 has not yet bought the necessary ray of hope. The situation is getting worse as each situation changes day by day. We are in an unprecedented period that has had the greatest impact on human life.
The world has literally stopped working. Business activities came to a halt and industries closed their doors for the first time in months. The epidemic of Covid 19 has confined us to our home. And while this is going to be the best decision for mankind, economies have shrunk and there is a long way to go before we can recover from these difficult times.
As economies sink to an extreme depths we cannot influence the job market not only in India, but around the world The impact of the recruitment industry will be different with each industry but these are probably potential and predictable situations.
Hiring plans would be freezed
This is bound to be the case in various industries. With a 2 month lockdown, it can be a long journey before every business home is fully recovered. Hiring will face a large amount of stagnation as it is difficult to bear the cost of hiring new employees. Rental in service industries directly affected by the Covid 19 outbreak will remain low for a long time. These include the industries of travel, entertainment and hospitality.
Interview delay
Positions that needed to be filled immediately before the lockdown will now be vacant for a long time. Delays or cancellations are predicted for a large proportion of scheduled interviews. Recruitment of graduates will face campus stagnation. Also new and entry level candidates will have difficulty in determining suitable place due to fixed rent. However, there are predictions that the IT industry or technology-enabled business will only show a slight decline in recruitment.
Increase in proportion of layoff
A week on lockdown and a number of companies begin pruning practice. These layoffs are forecast to increase even after the lockdown ends. So far a large number of companies have already found options to incorporate technology into their day-to-day operations. Insufficient staff and ineffective roles will be eliminated. Unemployment will increase after this epidemic. Huge corporations and small business houses have not been able to sustain them and people have already started losing their jobs.
There is no reason to deny that employers will see negative operatives in hiring employees after the lockdown. In the long run, companies will remove incompetent or even skilled workers for some time until recovery and the role charts of unnecessary work will be cut.
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