When a country grows at a GDP growth of a 8.6%, and posts the fastest ever growth in six months (in quarter ending March 2010 ), expectations of the standard of living doing a pole-vault is usually a given . But what does that do to the job market?
What happens when an economy comes out of a recession and announces its return to the global scene, piggybacking on the success of industrial advancement, government reforms and bullish capital markets? Does the job market become buyer driven or does it give the baton of control to those seeking jobs?
Usually, India has always been witness to traditional job cycles that run in sync with the economic growth cycles. Although the job market gets relatively insulated by the swings in the capital markets due to certain industries stabilizing the average number of existing career opportunities, they are highly susceptible to employer sentiment.
But this time around, the Indian employment scene has shown a curious trend, something that we haven’t seen before as a recurring trend- that we are now guessing, it will become. The employers have started watching their pennies !!
Innumerable instances in manufacturing, insurance, the consumer industry and even the supercilious Investment Banking sector have shown that employers are no longer willing to yield to the unreasonable –and sometimes ludicrous- demands of potential employees who have no qualms in asking for them.
What has made companies recalibrate their expectations and their willingness to stretch for getting good talent? Its certainly not the case that there is surplus talent and that organizations are getting their pick of the lot. Neither is there a dearth of opportunities for job seekers. But increasingly, organizations and potential employers have had a collective awakening to the fact that if they don’t control the market, the market will control you.
If not globally, at least in India, the inclination is progressively towards opportunistic hiring. Companies that have accomplished hiring today what they need tomorrow, will always be on the sunny side of their pockets. Those who didn’t anticipate skill-demand will be forced to fork out a premium to attract the best talent.
We at Positive Moves, help you gauge the talent market by constantly networking with industry professionals, understanding the pulse of strong executive talent, and by providing access to such industry leaders. With two decades of unparalleled experience in the field of Executive Search, Positive Moves has built its strength around exceptional client management and a strong Value Added platform.
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