Corporates to step up hiring in 2021
Adapting to the new hybrid normal of remote and office work, cautiously optimistic corporates are looking to hire more people and provide better appraisals in the forth coming year as they step out of the pandemic-ravaged 2020
New Delhi: Adapting to the new hybrid normal of remote and office work, cautiously optimistic corporates are looking to hire more people and provide better appraisals in the forth coming year as they step out of the pandemic-ravaged 2020. The coronavirus pandemic emerged as the biggest inflection point for the Indian job landscape. For the corporates, work-from-home and remote workers became the new normal and for the professionals, online learning and digital skills took centre stage. In 2020, most companies "deprioritised" their hiring plans amid uncertain economic outlook, while industries like travel, hospitality, retail, aviation, real estate, construction and automobile were severely hit.
Nevertheless, there is a cautious optimism among corporates and it is getting reflected in their recruitment plans for next year. "Yes. The market is showing positive signs of recovery with almost all the industries showing growth in hiring but with caution. Overall, the intent to hire recovered smartly from 11 per cent during the lockdown period to 18 per cent for HY (half year), and this number is growing," said Deval Singh, Business Head (mobilisation, hiring) at TeamLease Services.
While there is a caution in hiring, the market is displaying optimism. According to Singh, there is a 50 per cent increase in employment opportunities from the lockdown days. Pay cuts have been reversed since Diwali in most organisations and bonuses were issued in few. Some technology companies even declared early appraisals, Singh noted. The latest ManpowerGroup Employment Outlook Survey, which covered 1,518 employers across the country, showed that corporate India is showing "healthy signs of recovery" and plans to hire more people in the first three months of 2021 compared to the quarter ending December.