FINALLY, GOOD NEWS ON WHITE-COLLAR JOBS

Excellent study material for all civil services aspirants - begin learning - Kar ke dikhayenge!

FINALLY, GOOD NEWS ON WHITE-COLLAR JOBS

---

Read more on - Polity | Economy | Schemes | S&T | Environment

---

• Job applicants realise a new truth: Many job applicants are now finding that job descriptions have now expanded, with many roles compressed into one. If higher salaries are demanded, jobs do not materialise at all.
• Brighter side: From October 2020, the number of job interviews has risen. The white-collar employment market is turning the tide. This includes jobs done in offices, and jobs that need higher degree of mental work compared to blue-collar workers. CMIE surveys indicated that the biggest loss of jobs was in "white collar professionals", through 2020.
• Broad trend: While the overall 2020 scene is worse compared to that in 2019, the second half of 2020 is much better than the first half. 

1. As per Naukri JobSpeak Index, Nov 2020 saw a 28% drop compared to Nov 2019, but an 82% jump from April 2020.
2. The Monster Employment Index found a 6% drop in job postings in 11 months upto Nov 2020, compared to that in 2019.

• Reasons for the 'rebound': Apart from tourism and hospitality, economic activity has picked pace. Railway freight volumes indicate this too. And jobs are linked to economic activity. 

1. Some firms (e.g. Gexpress Solutions) are very confident of Indian exports rising in coming months. 
2. Why the optimism? Because of supply chain realignment worldwide. Local exporters are reaching out to more MSMEs to take their products global.

• The vaccine story: The end of pandemic is now visible to corporates who feel that the vaccine will kill the virus scare finally. Although IITs are the elite institutions, still the extremely fast placement across 4000 graduates is a pointer.
• Personal finances: Indian professionals have shown a higher confidence level recently, as they expect a higher earned income, more personal spending and recurring debt payments. Although all white-collar professionals who lost their jobs in 2020 may not have regained them yet. Some are unemployed but upskilling through new courses.
• Tech hiring: Due to the digital focus in global economy, technology firms are hiring faster. Digital includes cloud, data, digital engineering and internet of things (IoT). Analytics and data science jobs are doing very well. 
• Sales and marketing: Firms in education, healthcare, pharma, e-commerce, financial services, KPOs and telecom are hiring more. Sales is the only way to push customers into spending their money, which most are not willing to, today. 
• Executive hiring: For senior level hiring, suspended hiring has resumed. Companies are also searching for Chief Digital Officers. Pandemic's push to digital adoption has changed things for most. Older executives unable to cope, are being phased out.
• Salaries: Top talent is still commanding top dollar, but not the rest. Many firms cut salaries in first half of 2020, but some have restored the same too. The worst affected are the middle level professionals.

Read more on - Polity | Economy | Schemes | S&T | Environment

Join UPSC Self Prep course | Online Course (PT Gurukul)  | Covid Special Course | Join PT courses

* Content sourced from free internet sources (publications, PIB site, international sites, etc.). Take your own subscriptions. Copyrights acknowledged.