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Hiring Process Dwindles to 18% across Cities in March

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palak jain
Hiring Process Dwindles to 18% across Cities in March

As COVID-19 death toll surges every day, the entire world and its people are now in the throes of the global pandemic. With the deadly virus and the nationwide lockdown costing millions of jobs in India, its people struggle to find out how to meet their day\'s end and continue paying their bills and EMIs. The surge in unemployment and reduction of hiring activities in March is sparked by the increasing number of leading companies who announced furloughs and layoffs, as their only way to battle the pandemic.


The dwindling of the hiring process has come down to 18%, as compared to the same month of the previous year, to fight the economic storm birthed by COVID-19. The poorly affected Indian cities are, however, Hyderabad, Chennai, and Delhi, as per statistics and studies.

The Beginning of the Economic Storm
The hiring process displayed early slowdown signs from January where the Index shot up to only 5.75% followed by 0 growth in February. The March index for the year 2020 positioned in 1954, with a descending hiring activity to 18% when put to contrast with March 2019 at 2378.

The Sink in Hiring Activity
The dropping in hiring activity is brought about by the industries like IT software, restaurants, insurance (11%) travel, hotel, accounting and finance (10%), pharmaceutical (26%), retail (50%), airlines (56%), accounting and finance (10%), BFSI (9%) and auto and ancillary (38%).

The Impacted Job Market Due to COVID-19
The job market across the Indian cities has claimed a slant in the hiring process as per the index. The index has also added that the stoop was led by the Indian metropolitan cities where Delhi has gone down by 26%, Chennai to 24% and Hyderabad to 18%.

Delhi’s Huge Drop in Hiring Process
The jobs in Delhi and the hiring process in the National Capital Region encountered a negative growth of 26%, wherein the pharmaceutical and hospitality industry witnessed a slump in hiring activity by 43% and 66%. The headhunting process across the top levels witnessed a negative growth where the need for experts in IT-Hardware (22%), banking (28%), hospitality (63%) and accounting (22%) sectors recorded significant negative growth.

Chennai and Hyderabad’s Plunge in Hiring Activity
The hiring process in Chennai stooped to about 24% and the necessity for professionals in the banking industry, hospitality, and IT-software encountered a reduction of 21%, 27%, and 63% respectively. Hyderabad witnessed a decline of 18% in hiring activity, wherein the auto/ancillary (46%), hospitality (62%) and BFSI (40%) led the overall dwindling of the industry recruitment.

Bengaluru and Mumbai’s Hiring Activity Decline
Though Bengaluru had faced a substantial plunge in hiring processes across all the sectors, the ITs and the BPO sectors encountered a 6% growth in demand for Bengaluru professionals. On the other hand, in India’s financial capital, there was an overall plunge in hiring by an approx. 14% in March. The hiring in the accounting sector and hospitality encountered a decline of 60% and 38% respectively. In Pune, there was a dwindle in the hiring process by around 12%. However, the hiring activity in the ITeS/BPO of Pune and the pharma sectors faced a surge of 21% and 11% respectively.

An Overall Decline in Employment Process
There was an overall plunge in hiring activities across the board at senior experience bands and overall experience levels, facing the sharpest sink of 29%, whereas the experienced band of entry-level (from 0-7 years) saw a dwindle of 16%.
Studies reveal the crisis brought about by the global pandemic has created havoc on the one-year surge in the hiring process birthing an 18% decline. The hiring activity for the initial 20 days for March faced a mere 5% decline. However, with the nationwide lockdown being extended, there was a significant plunge in hiring processed in the recent 10 days, which led to an overall plunge of 18% in hiring. Industries like aviation, travel, and hotel followed by retail have faced the sharpest decline in March.

The Future Hiring Trends in India
The leading HR experts like the CEO and the Director of CIEL-Aditya Sharma thinks that the hiring activity would face the major impact of the global pandemic during the April-June quarter. According to his beliefs, the IT industry hiring would take a plunge of about 10%, whereas the white goods and services, engineering, consumer durables, manufacturing, and retail would face a sharp dwindle in hiring activity by around 30%-40%. However, the impact on the pharma and the FMCG healthcare would face a minimum of 5% decline in the new recruitment process as they are being careful about their expenses and are busy running their operations even amidst the lockdown.

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