The current year has been the year of layoffs. As per the media reports, nearly 1 lakh employees lost their jobs in 2022.
According to a survey by Indeed, about 65 percent of job seekers (more than 6 in 10) in India feel that the ongoing layoffs may hinder their willingness to go the extra mile in their jobs.
The report has the following findings:
- More than half of the employees (57 per cent) are unenthusiastic or bored about their current jobs in India.
- Additionally, over 50 per cent of them preparing for new opportunities by reskilling/upskilling.
- Inflation (18 percent of employers) and ongoing layoffs (15 percent of employers) are things to be on the lookout for in 2023, respectively.
- About 35 percent of employers look forward to adopting AI/digital/social media for talent acquisition.
- Nearly, 26 percent plan to explore hyper-local/niche job boards, the findings showed.
- About 28 percent of those looking for jobs said that they will prioritize happiness and flexibility.
- About 19 percent indicated that a good work-life balance is a priority.
- This year, about two out of every three employers (64 percent of those surveyed) were hired between October to December.
Sashi Kumar, Head of Sales, Indeed India said, “Going into 2023, it is evident that employees are prioritizing mental well-being and work-life balance amidst the various fluctuations that are occurring in the world of work.”
“As organizations wait to see how global movements affect the Indian jobs landscape, it’ll be integral for them to also relook at workplace culture and the current sentiment at work, in order to retain talent,” Sashi Kumar added.
According to the survey by the leading job portal Indeed, given the market uncertainties and economic climate:-
- Job seekers are hesitant in their current work.
- Additionally, job seekers are demotivated by layoffs.
- The Job seekers are not willing to fully commit to their current job as well.
In the coming year, employers will also be keen to step up their hiring practices. Employers are optimistic about their hiring activity during 2023 with 45 percent of them foreseeing up to a 20 percent increase in hiring.
There is a significant dip (down from 78 percent) and reflects a slower pace of hiring activity compared to the previous two quarters, likely caused by global economic shifts.
