Job market opportunities post pandemic
JOB MARKET POST COVID 19
The Coronavirus pandemic disrupted the job landscape. Job losses, pay cuts, uncertainty and fear loomed large as the economic shutdown eliminated some jobs and altered many more. As the vaccine rolls out and the dust of the pandemic settles, economies are slowly getting back on track. Offices and schools are reopening and lives are slowly getting back to the old normal. However, the fundamental question that remains is – will things actually get back to the pre-pandemic levels. With so many businesses shutting doors and thousands of people being rendered jobless, what will the job market look like in the post-pandemic era?
Well…let’s dig in…
Hiring Trend
According to a recent LinkedIn survey reported by Indian Express,the optimism in the job market is gradually returning. Businesses have learnt their lessons and are preparing to be more agile. Digital transformations are underway and this would undoubtedly create new opportunities for skilled professionals in times to come. This wave is set to create new jobs in technologies like Artificial Intelligence, Cloud, Cyber Security, Data management etc. That being said, Fresh graduates would have an edge as companies want to continue to be prepared for the time when the demand surges. As Director and CEO, CIEL HR Services shared with Business Standard, the jobs for junior and entry level positions are likely to see an uptick. In the view of optimizing costs, the demand for experienced and mid-level positions would be on need-basis and would take some time to recover.
Good News for some Sectors
COVID 19 was the period of doom and gloom sparking fears of the worst recession. It brought about major disruptions but just like every cloud has a silver lining, the pandemic too created many opportunities for change and brought about many positive transformations. While some sectors were hardest hit like Tourism, Hospitality and Real Estate, there was good news for digital technology, e-commerce, ed-tech sectors as people came to rely on technology for the simplest of tasks like shopping for grocery, entertainment during the health scare.
Healthcare – Virtual medical tourism, telehealth would see an exponential increase as they become more aware and concerned about their and their family’s health and safety. The pandemic laid bare the inadequacies of our healthcare system and has brought to light many new areas of improvement in terms of re-thinking processes, policies and adopting a more patient-centric approach for healthcare delivery. As businesses in the sector ramp up to respond to the changing market conditions and be more future-ready, it would undoubtedly see the rise of many new opportunities.
Technology- Demand for OTT services, online shopping and remote working software would certainly see an increase as people experience and realize the sheer convenience of accessing things from their smartphones or computer with just a few clicks. Further as remote and flexible working is set to become the ‘new’ normal as both employers and employees realize the benefits of it, areas like virtual project management software, communication tools and data security would continue to see increased demand.
Pharmaceutical & Biotechnology- As offices re-open; employee health and wellness take center stage, the demand for vaccines, medication, immunity-boosting supplements, sanitizers, disinfectants would only go up. People have become more aware and health conscious. They would continuously be on the lookout for new research and innovation around microbes and dealing with infections. Therefore professionals in the field would be in high demand for R&D activities.
Ed-Tech–COVID 19 forced schools and colleges to conduct online classes due to the lockdown. The demand for web courses, e-learning and online education continues to grow and is here to stay well after the pandemic subsides.
Online Gaming and OTT platforms –COVID 19 saw more and more people shifting to digital platforms as movie theatres, recreational hubs and gaming centers were banned. Online gaming and OTT platforms emerged to fill in the gap. It is expected that trends are here to stay as people become habituated to these and these are cost-effective, time-saving and on-demand. This is evident in a recent report by NDTV Gadgets which reported Netflix subscriber base topped 200 million in 2020 and that the company is witnessing a steady growth.
E-Commerce and E-retail–This one is no-brainer. In the face of nationwide lockdown and stringent social distancing norms, E-commerce and delivery based companies boomed as they offer a safe way to procure essential and non-essential services. Even after the restrictions have eased and marketplaces have re-opened people still prefer the convenience of online purchasing as opposed to crowding and queuing at billing desks. Therefore, the demand for e-commerce developers, digital marketing, technology professionals and delivery and logistics personnel would increase as companies hope to provide better offerings and superior customer experiences.
Growth of the ‘Gig Economy’
One of the by-products of the global health scare and disruption of the job landscape as we knew it has been the growth of the ‘gig economy’. The gig workers are mainly contractual/flexible workers who are hired by companies on contract or on-demand basis as and when required. With many jobs lost in the economy because of the crises, a large number of workers resorted to working on a freelance/contractual basis.
On the other hand, businesses world over, hard-pressed to continue operations in times of economic uncertainty are also perceptive to the idea as it helps them manage costs. It is win-win for both as businesses save money by saving on full-time hires as gig workers work on a pre-determined fee with no leaves, entitlement etc. while workers have the flexibility to work as and when it fits their schedule. It’s a win-win for both. Factory/warehouse workers, delivery agents and white collar jobs like content writing, digital marketing, designers etc. are the most common areas.
There is no denying the fact that the pandemic has left an indelible mark on the economy. It upended the job market completely changing jobs, careers and recruitment. With digitization and technological innovations shaping the changes there are likely to be new jobs, hunt for new talent and skills. It isn’t just the subject knowledge that is going to sustain but soft skills like adaptability, emotional intelligence, communication would become paramount as businesses would look for people who can understand and adapt to the rapidly changing times. 2020 wasn’t the best year of our lives professionally but industries are evolving not evaporating. The idea is to invest in skills and resources and 2021 would be yours to shape.
