India’s online job portals see rise in registrations due to COVID-led layoffs

Employees collect Diwali greeting cards at a security desk ahead of delivery at the Flipkart Online Services Pvt office in the Jayaprakash Narayan Nagar area of Bengaluru, India. Photographer: DHIRAJ SINGH/Bloomberg

Job portals and recruitment firms are seeing a sharp rise in job seekers registering on their dedicated micro-sites for covid-19 impact, as companies continue to lay off employees.

Naukri.com, which launched its Step-Up program as a microsite to help job seekers advance their careers during the covid-19 pandemic, has seen a huge traction in the number of people applying.

On the recruiter side, the initiative offers free job postings and personalized hiring drives for key sectors like medical, healthcare, pharmaceutical, and telecom that are at the forefront in the fight against the pandemic.

“We see a huge traction from jobseekers on the Step-Up initiative. Close to 4 lakh unique jobseekers access the microsite weekly for enhancing their careers in these uncertain times,” said Pawan Goyal, chief business officer, Naukri.com.

The initiative also offers free upskilling courses that are in demand, hiring insights into roles and industries, live webinars with industry experts and free CV scoring tools.

Similarly, online job portal MonsterIndia.com has introduced a dedicated section ‘Jobs affected by covid-19’ that offers career advice, support to find the right job for one’s skills, and options for work-from-home roles.

MonsterIndia displays approximately 44,000 job postings for covid-19 layoffs as of 1 July.

While the covid-19 dedicated job sections are not necessarily focused on the high-impact sectors, they are likely to be a hit among employees from food tech startups and travel and tourism firms that have witnessed massive layoffs.

For instance, travel firm MakeMyTrip laid off 350 employees while Swiggy and Uber have shed 1,100 and 600 employees respectively in India.

Healthcare, e-commerce and online delivery firms may hire despite a gloomy hiring outlook. Companies in consumer tech, business software, financial services, consumer goods, and edtech are also searching for the right talent.

Monster has curated a list of companies that have not yet put a freeze on their hiring plans and are still looking for people.

These include professional services firms like Accenture to edtech startups like Byju’s to banks and financial institutions like HSBC Technologies India, ICICI Bank, Larsen and Toubro Infotech and even food and dining start-up Zomato.

Professional networking platform LinkedIn, too, has been collating and posting open roles at Indian and multinational companies based on posts from companies and CEOs on its platform. It is also helping professionals who may have been laid off with mentorship, network support, counsel and opportunities in times of covid-19.

According to LinkedIn, both job posting and viewing declined sharply at the onset of the pandemic outbreak. While job posting and hiring rates have not recovered, new LinkedIn data show job seeking surging back to pre-pandemic levels — by mid-May, job views were only 4% lower than they were back in January.

With millions out of work and fewer openings to go around, the number of views on the average LinkedIn job post (views-per-job) has almost doubled since late March.

“Sectors like education, hardware, and wellness are seeing considerable spikes in views-per-job. But the travel and healthcare industries are both seeing marked drops in views-per-job, though each decline is happening for very different reasons,” LinkedIn noted.

Recruitment firms said that covid-19-led layoffs are on the rise.

“…June saw massive layoffs, about 50% more as compared to April, with firms taking harder calls on letting go of people. Layoffs have been at junior, mid and senior levels including CXOs,” said Anshul Lodha, regional director at recruitment consultancy Michael Page.

“The new opportunities are in allied industries and upcoming ones such as edtech, consumer tech, online gaming etc. There has been a huge surge in applicants from sectors that are not doing well such as travel and tourism. Now portals or recruiters are getting three times more applicants for the same number of jobs so the filtration process of finding the right candidate takes more time,” Lodha said.

C-suite recruitment firm Search Value, however, does not see layoffs at the CXO level. “Certain industries like aviation, hospitality, travel and tourism, auto and mobility have different challenges. Many of them are resorting to salary cuts and salary realignment at the CXO level,” said Pankaj Raj, CEO, Search Value.

Apart from impacting the job market, the current pandemic has also affected the campus hiring scenario of students due for placements this year.

According to a Firstnaukri survey of over 1,300 college students, around 66% of the campus graduates confirmed that they do not have an offer at hand.

Amongst one-third of them with a job offer, close to 44% confirmed that their joining dates have been delayed while another 9% confirmed that their offers have been rolled back. Close to 33% said that the employers are not responding to them on the status of their job offers. In this scenario, a majority of students have switched to online job portals to hunt for a job while another 17% are taking the referral route and connecting with their college alumni.

The article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.