Omicron Variant Impact on jobs and hiring in India. White-collar jobs market is likely to remain unhindered for the moment despite fears over the new Omicron variant. Top company said
The growth that the white-collar jobs has been witnessing over the last 4-5 months is expected to continue unless there is an intense third wave of the pandemic that leads to stricter restrictions and disruption of the supply chain.
Big companies like Tata Steel, Axis Bank, RPG Enterprises and Motilal Oswal Financial Services, and startups like Upgrad said they do not expect hiring to get impacted third wave of the pandemic. We do not see any impact on our hiring plans,” said a Tata Steel spokesperson.
The white-collar jobs market is aided by projections of robust economic growth. A rise in consumption, increase in private equity and M&A deals as well as expanding vaccination coverage to manage the impact of third wave of the pandemic. Adding to these are a shortage of talent and high attrition in several sectors.
“Demand and supply gap is leading to increased action. There is demand for talent in both tech and non-tech roles,” Sudhir Dhar, executive director, HR, at Motilal Oswal Financial Services told ET, adding:
New-age economy companies and ecommerce majors, flush with liquidity and growing at a heightened pace after Covid, will also continue to hire despite concerns over a possible third wave as they are facing rising attrition and all-time high offer dropouts – candidates rejecting an offer from one company and taking up another.
“We are continuing with what we are doing and the same holds true for future plans as well,” said Mayank Kumar, cofounder of edtech firm upGrad.
“The plan is to grow employee base net at 1,000 to 1,500 more employees at a group companies’ level as well as to cater to our Indian and global teams by the exit of this financial year,” he said. Sectors such as IT, outsourcing, funded startups, tech and financial services will continue to hire.
Other side Travel and hospitality industry is going through with the hard times and big groups is facing issues to manage their employees because of revenue loss. Third wave of the pandemic is not same for all the industry. Jobs Innovators understand the severity of third wave of the pandemic and their impact on jobs in India and across the world. Mainly small businesses who is going to suffer a lot. In this tuff time all the industries should be ready and take the necessary precautions and decisions which would keep their business smoothly.