Latest News

Hiring to return to normal soon,Cos honouring job offers:survey

BENGALURU: Most Cos HR professionals expect that it will take three-six months for recruitment to return to pre-covid levels, while 15% expect it to take more than a year, said a survey conducted by job portal

The survey, covering over 1,600 responses from HR and talent acquistion heads, found that only 15% confirmed that terminations are being announced whereas one-third assured there will be no reduction in employee numbers. This contrasts with a separate job-seeker sentiment analysis taken by over 50,000 job seekers wherein almost 21% confirmed job losses because of terminations.

According to the survey, only one in every five HR heads confirmed salary cuts. This clearly indicates the need for transparent and frequent conversation between the employer and employees. Another good news for jobseekers was around job-offers," the report stated.42% HR heads and recruiters confirmed that job offers made prior to the lockdown will be honoured while only 6% indicated that they will be withdrawn and the balance indicated the offers being valid with deferred joining dates.

Overall, one-third HR heads and talent acquisition heads confirmed that they have completely paused the recruitment process while only 10% revealed that hiring is continuing as usual. The most impacted sectors from a recruitment standpoint have been Hospitality, Aviation, BFSI, Construction, and Staffing. However, Pharmaceuticals and Healthcare industries are the least impacted."

Large businesses, with over 1,000 employees, are the least affected in terms of recruitment while organisations with less than 50 employees are worst affected. In large businesses, 62% of the HR heads confirmed that they are still recruiting while 63% from small sized companies with less than 50 employees confirmed recruitment being completely paused for the time being, said.

About 38% of the companies surveyed indicated only critical recruitment is taking place in their organisation. Within that, the 2-5 year followed by 6-10 year experience band will see maximum hiring. As the organisation continues to ramp up their exposure to digital channels, application development followed by IT support & maintenance are the key domains where critical hiring is taking place even amidst this crisis," said.

At the same time, it is confirmed that the 2-5 year experience band is most affected by terminations whereas sales/marketing, HR/admin and operations are the most affected functional domains. Freshers and employees from the data sciences/analytics domain are least affected."