Negative growth in Popular Jobs Makes Thousands Register with Placement Consultants

NEW DELHI - July 12, 2017 - PRLog -- First demonetization, then the closing of the financial year and now the introduction of GST has hit the job market hard. Most multinationals and even startups have quickly resorted to consolidation and restructuring to trim costs down. And this has meant layoffs in thousands.

According to a survey by the labour bureau of India, manufacturing contracted for the first time in seven years, from a growth rate of 12.9% in 2009-10 to just -3.7% in 2015-16.

Similar fate was seen for aspirants in software, banking and telecom which have always been considered extremely essential sectors in the Indian subcontinent. While jobs in telecom have taken centerstage for long, with the merger of Idea cellular and Vodafone India, the hope for getting a job in these mega multinationals has disappeared quickly.

"The thought of such a steep fall in jobs despite the rapid increase in India's workforce is scary. But there is high demand in sectors like marketing, retail, and automobile. We still get heavy requests from these areas," says Paras S., lead recruiter at Primo Hiring Solutions, aplacement consultant agency. Their company matches candidates with the queries for employees they receive from MNCs, startups and non-profit organisations.

Registration of aspirants with such manpower agencies has more than tripled now, with positive results for most. According to Paras of Primo Hiring, decline in one area has spurred rise in others as roles like growth hackers, relationship therapists and SEO analysts have expanded to absorb more employees.

Evidence also suggests that this decline may have partly been due to bad hiring decisions that may have resulted in losses to the company, revenue or image wise, like in the case of Uber. Surprisingly, dissatisfaction and stress among people who consider their job the worst of all, often opt to quit, fueling resistance on the part of the employers to switch to capital intensive work style. The services of recruitment consultants like Primo have also helped candidates find the right job as they rely on career counselling and psychometric tests to figure out whether a candidate is the best match for a job profile to rule out any bad hires and loss in revenue. They have quickly expanded operation in Delhi as the job market in Delhi has still remained buoyant, absorbing employees by the lot.

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