Technology Job Market Situation in India

Remember the lockdown situation across globe. New orders on hold, new positions on hold, IT spend on hold, Innovations on hold, Onsite movement on hold and so on were the situations till last September (2021). And the job market changed almost overnight, Market started showing good old era. Millions of people got vaccinated, restrictions were lifted, states reopened and the trillions of dollars from government stimulus programs made its way into the economy. This dramatically improved the mood of the nation. This is indeed a beginning of a new age era. But do we all really think that the current situation is ideal to push forward the growth of Technology Industry?

Indeed, overall mood of the overall economy and the entire Industry has ricocheted from fear to excitement. Conversations switched to the booming stock and real estate markets and away from Covid-19. Not only that we all cant escape getting roped into discussing cryptocurrencies and NFTs. Enough of layoffs and hardships, it's time to talk about finding a new job or switching careers.

Yes, there will be a large number of people who will be on the job hunt, but it's not that simple. Historically, what I have experienced, once the winter starts, Christmas time approaches, hiring slows down. The reason is straightforward—people start to take their vacations. The hiring manager is away, then the human resources professional managing the interview process heads to the beach, followed by the comings and goings of other pivotal people needed to be involved. It's sometimes nearly impossible to get things done. In addition to the usual slowdown, the odds are high that this winter may be unusually hot with regards to hiring because of this new phenomenon.

But, please wait, the downside of this new changed scenario has not yet begun. I've noticed that companies haven't adapted to the new, post-pandemic environment. Many hiring personnel are still viewing the world as if it's back in March or April of 2020. They don't get that the economy is doing well and the job market has heated up. Candidates are negotiating their Salaries in the multiples of 3-4-5 times. Absconding cases are gearing up! Ethics, Values, honesty, Loyalty, these words are becoming a mere fancy words. So, where are we heading?

Some of the major side effects of Pandemic has paralyzed the entire onboarding process. The interview process continues to be very slow and clunky. With all of the talk about ghosting, it's shocking that companies and candidates still ignorance both ways too. There continues to be a lack of feedback and constructive criticism to help candidates perform better in the future. Offers are lackluster. Requirements are ridiculously high—nearly impossible to achieve. There are too many changes in the process. Decision by consensus, which is the new standard, paralyzes the process.

I feel about the Talent acquisition professionals suffer from the fear of losing candidates in wont of process, budget over-run and what not. This means that they’re afraid to make an offer, because in the back of their mind, they worry that there could possibly be someone even better if they wait long enough and keep interviewing dozens of?more candidates.?

There are a significant number of people in India who are holding off interviewing, even though they’re interested. There is the lingering fear of catching the virus. People are leery of what companies will do next. If they currently work from home and enjoy it, there is trepidation that if they move, they may be asked six months from now to come into the office on a daily basis. Anyone who has worked in the corporate world for two minutes knows that it wouldn’t be shocking for a manager to promise a hybrid or fully remote-work option, only to later change his mind.

As folks become fond of remote work, there’s not a big appetite to commute in a city like Bangalore or Pune to and from the office, wasting hours each day. A large percentage of job seekers are demanding a guaranteed remote-work option, along with a sizable increase in pay.

?My humble request all job seekers and aspirants to think of your career as a marathon—not a sprint. If you are happy where you are and feel well taken care of, it's rational to remain where you are. You could simultaneously keep your eyes open for new opportunities,?keep you relations with good recruiters?who will eventually let you know if a perfect role opens up and?keep networking on a regular basis.

If you feel it's time for a change, then start searching. Since we’re in a new type of era, you should ask a lot of questions during the interview process. Don’t be intimidated. Push to ensure that you have full understanding of the role and the way you’ll work. If you desire a remote role, be careful. You don’t want to get paid less compared to an in-office peer. It's smart to feel out if work-from-homers are discriminated against and treated like second-class citizens. Don't over demand on your salary package. Remember the day cloud weakens up and the Industry is flooded with Resumes, better options of candidates are in platters, budget starts sinking, you will be on Radar towards replacement and cost effective candidates will become the right fit. I predict that once the December holidays kick in, the job market becomes like summer and slows down again. Happy onboarding and happy job hunt.

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