Changes in Hiring patterns due to COVID-19

COVID-19 outbreak has not only been a medical concern throughout the world but has also caused a global economic slowdown. It seems to have a more significant impact lasting for a longer term than initially believed. The recruitment industry has naturally been affected by the pandemic and would need to make certain changes in it’s trends for the year. We shall discuss the patterns in hiring caused by the pandemic in this blog. 

The type of candidates being hired during and post COVID-19 has been different from before.The immediate reaction to the financial crisis, with funding being challenged constantly, has been companies cutting their costs. Companies are looking for ways to reduce their hiring and staffing costs and capital spent on salaries. One of the ways to do that is to outsource most tasks except the crucial core jobs that have a direct impact on the organization. Remote work has become the new norm and many companies are now re-evaluating an augmented workforce with gig workers and specialized freelancers. Hiring freelancers to perform short term specialized tasks has proved to be both for cost efficient and supplement critical technical skills. This has made it possible for companies to access world-class talent that they wouldn’t be considering to hire on a full-time basis. 

Organizations have come to favour unfixed salaries to take care of unexpected cuts during the tough times. This in turn means that contractual workers that have a mid-level experience will see mainstream adoption. Multi-skilled candidates that can effectively communicate will be given more preference.

As companies adopt new strategies and upgrade their digital methods to facilitate remote working, the demand for gig economy and freelancers is likely to see an upswing in the future.

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Recruitment trends for 2020