Industry TrendsMentor's Perspective

Will the Job Market Flourish post Covid-19: an HR Perspective – Part II

With a brief insight on how Covid-19 has impacted the job market, Mr. Parin Chheda further talks about how as an individual you can upskill yourself taking into consideration the challenges that organizations are likely to face during the recovery time.

Post-Pandemic Skill Sets

Being well-versed with the use of Digital and IT platforms and generally being tech-savvy, which was a good-to-have skill, over and above the required functional skillsets for a job, is slowly but steadily becoming a necessary skill set that employers seek out in potential employees.

The ability to learn and unlearn, adaptability and the ability to deal with ambiguity are important competencies that employers will naturally look for in their people in a dynamic and ever-changing business scenario. Self-starters who show initiative on the job, take ownership and go above and beyond their defined job role will be preferred. For middle management and senior leaders in important roles, the ability to see critical projects through to completion and prudence with the allocation of budgets and usage of funds will be a necessary skill set as we head towards an uncertain economic scenario for the next few years.

Effect on Salaries

Salary growth will be muted in most sectors, though there will be exceptions. Organizations will have to take tough decisions around rationalizing operations, conserving cash and ensuring liquidity and health of the business. These are measures to ensure that business is sustainable over the longer term. Many organizations will be forced to re-think and re-align their Human Capital strategy in the new normal. On the brighter side, many organizations are re-evaluating their employee well-being policies; for example, how they can better cover employees and their families with more holistic healthcare/insurance schemes. Few organizations have started extending Mediclaim benefits to cover parents of employees which was not the norm before.

Post Covid-19 Challenges for some Industries

Owing to weaker demand for their products/services, organizations may resort to cost-cutting measures for short to medium term. The focus will be on core business and cutting down flab. There will be a renewed emphasis on innovation. Service sector companies will drive a sharp focus on becoming more and more customer-centric and getting rid of unnecessary layers.

Advantage Lockdown: Time to Upskill

While it may seem never-ending, the lockdown will come to an end at some point in time and further down the line, things will gradually return to normalcy. Individuals who continue to upgrade themselves and acquire newer soft and hard skills will have a competitive advantage over their peers. Skills that are in high demand should be identified and acquired, and the current situation presents a unique opportunity to do so. The delta of time saved by not commuting to and from work and other similar activities in the current situation should be utilized to differentiate yourself by upskilling and acquiring unique skill sets and experiences that increase your employability and add value to yourself as an individual. Imagine having to compete for a job with someone who passes out the next year – One needs to ask themselves ‘What value do I bring to the table which someone else with the same qualifications does not?’ Learn that new skill, get that certification you toyed with, offer to work on a project and deliver demonstrable results. It will help you differentiate yourself in an already crowded job market.

Article by – Rajasi Gawande

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