Post-Covid, a new way of working

The pandemic has redefined what it means for businesses to have talent with equal amounts of soft skills as technical skills, says Sashi Kumar, Head of Sales, Indeed India.

With a rapidly changing tech scenario and continuous upgradation of skills, how is the industry able to cope with the issue of employability of new engineering graduates?

According to our recent survey, up to 71% of companies recruited people with IT abilities, and 29% of jobseekers also preferred IT skills. Data science, analytics, and other technology-related job roles continue to be in demand. High-skilled engineering employees who have prowess for futuristic tech are in demand and they have multiple opportunities, hence we see that employability is positive. Indeed’s quarterly hiring tracker also indicated a positive job momentum growth with employers increasing hiring by 29% from April to June 2022 (as compared to a 20% increase in the previous quarter).

While industries are focusing on hiring in new technology areas like AI, IoT, and space technology, what are the other key areas for hiring?

Amidst the pandemic, businesses realized two imperatives to thrive in a volatile environment. The first is of course the need for digital innovation to stay ahead of the curve. But second and perhaps more important is a talent pool with the right skill sets to lead the changes in a dynamic ecosystem. According to Indeed’s quarterly hiring tracker, job roles such as data analyst, mobile application developer, project manager, and other technology roles continue to be in demand whereas roles such as operations manager, financial analyst, and HR specialist are least hired. While new age tech areas like AI, IoT, and others grew in demand, so did soft skills. Skills like a growth mindset, critical thinking, creativity, and autonomy have become the key determinants of aggressive organizational growth and success. Unlike technical or ‘hard’ skills, soft skills are not about the knowledge you possess but the behaviors you display in different situations.

While soft skills have always been considered important in the workplace, the pandemic has redefined what it means for businesses to have talent with equal amounts of soft skills as technical skills. Due to the slowdown led by the pandemic, enterprises and startups are at an aggressive growth stage where hiring the right talent is critical. Soft skills provide differentiation in a large and equally qualified talent pool that gives businesses the edge in innovation and growth.

How employable are talents from Tier 2 and Tier 3 cities in terms of meeting the new-age technology requirements?

In the last decade and a half, innovation has taken a center stage in the country. We are seeing a positive growth of product and engineering roles in India which will grow exponentially in the coming years. Our data shows one of the interesting trends we are seeing as a result of the pandemic’s digital push is the rise of such jobs being made available in Tier 2 and 3 cities as well. Smaller cities like Ahmedabad, Vadodara, Kochi, Indore, Jaipur, Surat, and others contribute over 6.5% of total R&D jobs, indicating the presence of employable talent in these cities and that companies will likely continue to focus on metro cities of tomorrow.

What are the key learnings in the post-Covid landscape of talent demand and supply for India so far?

The post-pandemic world has redefined the job landscape, giving rise to a new way of working, newer avenues of jobs, and different ways of talent management.

According to our platform data, the Indian labor market is witnessing a positive momentum as new job postings in India are seeing a record high number. New job postings in July 2022 saw over 40.5% growth above the pre-pandemic baseline (February 2020). This showcases the increase in demand for hiring across several industries.

There will be periods of correction based on market conditions as the situation continues to evolve, but we can say hiring in India is getting better. Overall job postings on the Indeed platform have increased by 38.6% since the onset of the pandemic. There are still external indicators like inflation, the war in Ukraine, and a possible global recession that may or may not impact the jobs landscape.

How is women's participation today, a sign of structural economic changes?

The Covid-19 crisis has further exacerbated the employment situation of both women and men and has disproportionately impacted women in the informal sector.

Only 14% of the business in India is run by women as per an earlier NSSO economic survey conducted a few years ago and a recent Bain and Co report revealed that 20% of the enterprises in India are women-owned.

An Indeed study conducted between January and February 2022 on ‘Women rejoining work post-Covid-19’ revealed that the pandemic has enabled more favorable conditions for women to re-enter the workforce. The primary reason for this is the rise in remote/hybrid work and companies being open to flexible hours. 44% of the employers surveyed claimed to have extended flexible work while 32% provided work-from-home/ hybrid work arrangements.

Attrition is still a problem. How can it be tackled?

37% of all job seekers looked for a job or a job change during the Apr-Jun quarter, as compared to 46% during Jan-Mar, FY 2022-23. The definition of work has changed post the pandemic. Companies too have realized this change and have started to invest more in people, creating upskilling initiatives, personalising talent programs, and bringing in progressive workplace policies to engage and retain talent. Therefore, the onus is now on employers to curb attrition. In fact, job seekers we surveyed said that they would prioritize mental wellness, work-life balance, and salaries equally. More importantly, over half of the employees surveyed credited employer Vision and Mission to be important, suggesting that purpose-driven work matters while shifting jobs.

Sashi Kumar

Head of Sales, Indeed India

aanchalg@cybermedia.co.in