3 Reasons Why Indian Job Market will recover by Mid 2021 and What you should do?

Updated: Mar 4

'Economy is the fuel of developing country'


Job market, especially Indian job market, is struggling badly due to Covid-19 pandemic. Employment rate was very poor according to media reports. Many people lost their job and pandemic impact continued for six plus months. India is made up of SMEs i.e. Small and Medium Scale Enterprises. SMEs do not have sufficient funds to survive for six plus months without any income. Hence, many SMEs shut down after struggling for two or three months. Same scenario observed in Micro firms also. This massive hit experienced by all industries except Pharma, IT and Daily needs (milk, groceries etc.).


However, we are optimistic when we talk about Indian job market. Reasons are simple and crystal clear.



Here are 3 Reasons Why Indian Job Market will recover by Mid 2021:

1. Internet is King


The Internet has proven itself in remote working. IT Industry relied heavily on the internet during the pandemic. As the craze of Remote Working or Work From Home (WFH) setting new examples it also resulted in infrastructure cost cutting. It was the time when the IT Industry allowed Work From Home almost one year. One year is sufficient time to prove any model for such IT giants. As infrastructure cost will reduce this benefits will be either passed to end customers or employees or it will lead to recruiting new talent. Out of these three options, recruiting new talent seems a huge possibility.

If you are a fresher or want to enter the IT Industry then this is the right time to do so. Be ready with your skill set or certifications to grab the opportunity when it strikes.


2. Pandemic is (almost) over


Yes, that's the good news. Though pandemic will take a little bit more time so say goodbye, but we learned how to deal with it. World is in recovery mode as India. Except for a few states, Industries are started again with a limited work force. Also, Vaccination drive started full-fledged in India. Such factors boost the confidence of industry. As SMEs are in recovery mode, we can expect a few aggressive recruitment drives across the nation in next few months.


Imagine this scenario: Company ABC Pvt. Ltd. from manufacturing industry is capable of producing and distributing goods to nearest cities. It has a staff around 80 including the owners. Also, they conduct their recruitment drive annually and it is somewhere around 5 new hiring per year. But due to lockdown all operations of ABC Pvt. Ltd. halted for several consecutive months. As SME is not strong enough to pay employees amidst no income booked in lockdown, management decided to lay off the staff. Overnight 50 employees become jobless. Out of these 50 employees, 30 people decide to join somewhere else or start some business in their home town.


But, as the market is in recovery mode ABC Pvt. Ltd. decided to start their operations once again. To conduct all operations they must need manpower to handle the various roles and responsibilities. At the initial step the company decides to hire 20 employees within the first month, 20 in the second month. But as stated earlier 30 employees already engaged somewhere else means chances of joining back ABC. Pvt. Ltd. is very less. Here please pay attention. Usually ABC Pvt. Ltd. hire 5 people per year but now they are hiring 40 people (8 times more) within two months. Of Course there will be recruitment of new talent also.


If the same pattern followed other SMEs and Micro enterprises then we can say that hiring will be 8 times more than usual. Though I am being more optimistic, but this scenario we can't neglect for sure.


3. Vocal for Local


Indian economy suffered in the Financial Year (FY) 2020-21 followed by the global scenario. As we are moving into the new Financial Year (FY) 2021-22 many industries are set to join the recovery. Those who are into finance can understand that it also has an added advantage on balance sheets. While observing industry in macro view, we should not underestimate the PESTLE factors. PESTLE stands for P - Political, E - Economical, S - Social, T - Technological, L - Legal and E - Environmental. Here let’s think about P & E i.e. political and economical factors. All political and economical factors are focusing on supplying Indian products to the global market. Though it will take some time to prove this model, we can expect few attempts to try global export. These factors will empower industries to build good quality products at large scale which will result in increasing manpower to meet this demand.

If industry gets some support from other factors then a high recruitment drive will be initiated for skilled manpower.



What you should do now?


Assume, the job market is streamlined by Mid-2021. I would like to ask you one question: Are you prepared for the opportunity?


Yes, the question is simple. It’s about preparation. Once a wise man said, Success means when preparation meets the opportunity.


What preparation is required to grab the opportunity?

  1. Home work - Do your homework. There are few things you must be ready with.

a. Resume: Build a strong resume as per the latest trend. Highlight all your strengths smartly through skill set, achievements and certifications. If you have prior experience then do mention it in detail. If you are a fresher then you can search for online internship opportunity. Having a brand name on your resume improves the weightage of your resume.

b. LinkedIn Profile: Prepare impressive LinkedIn profile. Don’t underestimate the power of LinkedIn in Job Market. Keep your photograph professional, add detailed description in your profile summary. Add certifications. Also, try to get a good number of endorsements from your network. If you don’t have a good network then try to build it. There are several tricks you can search over the internet to improve your connections on LinkedIn.

c. Video Resume: Do you wait for Sunday 10 am in front of your TV Set to watch your favorite show? Or you visit YouTube or Amazon Prime or Netflix? Most of us use YouTube or OTT platforms to watch our favorite shows. This is the power of trend and ease. Video resume is a trending factor which boosts the confidence of the recruiter on the candidate. Just ensure Video Resume will have the content employers looking for. With good Video Resume, selection chances can increase by 60 to 70 percent.

d. Your own website: If you put www.yourname.com on your resume, what will be the reaction of the recruiter? Yes, it is possible. You don’t need any coding knowledge to build your own website. With some adjustment you can prepare your own website free of cost also. With the latest tools and tricks you can prepare your own website free of cost without any coding knowledge. Your resume will give only one or two page summary but the website can give your entire profile. You can add your projects, videos, hobby photographs etc to impress the recruiter.

e. Interview questions: Be ready with expected interview questions and it’s answers. Take help from industry experts to find relevant answers of interview questions. Avoid basic answers, you must be smart enough to impress the recruiter. Remember, there are ten to twenty people along with you who are applying for the same job.


2. Practice Practice Practice -


Practice makes man perfect. Practice interview questions, especially common questions which are frequently asked during the interview. Use the latest tricks to do better practice. One trick is to record your own video with a selfie camera and review it. Repeat it for five to six times for one question. It will help to understand the delivery gap and also your rehearsal will be automatically done. Remember, the recruiter is going to judge you based on your interview questions. Hence ensure you are prepared enough to face the interview confidently.


3. Upskilling or Upgrading yourself -


What have you done in the pandemic? You can expect this question during the interview. Don’t say you enjoyed it with YouTube, Netflix or PUBG. Do some certifications if you are not done yet. Try a free website which provides good knowledge and certifications. Attend webinars as much as you can to learn about new topics. Remember, Skilled manpower never remains idle. If you have enough skill set then industry is already looking for you. Just grab the opportunity.


Conclusion:

Indian Job Market can recover by Mid 2021 i.e. from May 2021 onwards. Meanwhile, ensure all the readiness mentioned above. Use below checklist to know your preparation level:


On the scale of 10 (1: Poor, 10: Excellent), rate yourself on following parameter:

  1. Resume _____

  2. LinkedIn Profile _____

  3. Your own website _____

  4. Video resume _____

  5. Interview preparation _____


If your score is less than 25, then you need guidance from an expert. You can try your own research or visit our website for details.


Remember, Success is nothing but when preparation meets the opportunity.


We at eCareerSpace are trying to guide students for a better career. If you like this blog, then please let us know by comments. Don’t forget to share it with your friend or family member who can get benefit from this.


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