2021 has been uncertain in most aspects. With all the uncertainty and not to forget the global pandemic, forecasting hiring trends is a bit of a challenge. But with the vaccination drive in full swing and the potential of new normal, 2021 will be a big comeback year for some of the major industries.
The unemployment rate in 2019 was 3.5% which meant 2020 was an important year for the job market. However, with the pandemic in March, unemployment rose to a whopping 14.4% in April. In order to reduce the costs, companies adopted the conservative approach to keep their boats afloat by reducing their headcounts and freezing new hiring. But in 2021, recruiters expect a surplus of candidates.
Across the country, 68% of e-commerce businesses expect a 12% increment in headcount. Development in e-commerce has likewise prompted the development of more tech-empowered stages in coordination and warehousing. This has pushed up the interest in real-estate also as the requirement for office space has increased. Around 44% of property and development organizations in India hope to grow the labor force by 10% in 2021.
Companies in supply chain/logistics have started thriving and are hiring, including warehouse, distribution, and manufacturing. Retail, call centers, and healthcare providers also continue to grow. About 53 percent of Indian companies are planning to hire, as compared to 42 percent APAC (Asian-Pacific countries) businesses, this year says the Talent Trends Report 2021. According to Michael page global survey, 6 in 10 companies intend to hand out increments, 55 percent are planning to give bonuses, which will cover roughly 660 employees and 4600 professionals in India.
Emerging Hiring trends of 2021
- Candidates with the correct combination of work experience and soft skills will be hired at high salaries
The 21st century has seen a massive requirement of soft skills in the employees. With the major industries focusing less on the degrees and more on the skill set, experience in the desired field related to the job profile gets preferences to the candidate. Add to it the list of soft skills which can add to the company’s growth and good working environment, the candidate already has the hiring manager’s attention.
- Contract-based workers are expected to receive more job opportunities
With all the uncertainty as the companies are hesitant to open offices and recruit permanent employees, there has been an increase in the hiring requirements of freelances or gig workers. They usually are experienced professionals who are looking to have versatile experiences under their belts. Gig workers consider salary, flexibility, and fair treatment when looking for which companies they want to work with. With the new changes approaching the working industry, this is a win-win for both the employers and employees.
- Soft skills such as leadership, teamwork, relationship management, and communication will help employers hire a great pool of talent onboard
The ongoing pandemic has made it more than essential to understand that hiring a talented individual doesn’t just include the required qualification. The importance of leadership, teamwork, communication, and maintaining an individual relationship within the team has been highlighted in the hiring trends due to the high work-life balance suggestion.
- Cultural fit, growth potential, and evaluating soft skills will become more important concerning growth opportunities
Diversity, equity, and inclusion in the workplace are important to the companies and the employees. With the rise in the demands of human rights and gender-inclusive language and promoting growth potential among the team has been an important factor looked at by the employees when decided on their choice of the company, they want to work for.
- Remote Work is here to stay
COVID-19 has essentially forced companies to do the impossible: manage a remote working environment. It was successful, which proved that the work can still get done even without a tiresome office commute and presence. Even when things return to normal, there’s a high chance that many employees will prefer to continue working remotely. It’s a shame that remote work can only apply to selected skill segments but for those segments, it’s an essential benefit. While it’s important for hiring managers to learn how to interview remotely, looking at work samples might help too.
Companies will be looking at a dynamic working culture along with competitive compensation packages and benefits packages to attract talent. 2021 is going to change the way of hiring with a futuristic approach and this will be a year to learn from!