The situational crisis created by the Coronavirus pandemic took the World by a storm. Leading corporations in the World, including fortune-500 companies, were all over the news after firing a substantial workforce amidst the mayhem. As expected, the effect was not in a pattern at all and varied hugely among various sectors.
Coronavirus pandemic indirectly taught the World about the role of technology in the World and its importance. A sense of fear is still prevailing in most of the corporations.
Employees in all these corporations are still worried after reading reports and statistics of depleting operational funds due to the hit caused to revenue.
In this article, we will be discussing the current job market scenario and the possibilities in the coming months.
The first hint about the health of the technology sector came after the news of Zoom Company’s stock reaching record highs surfaced all over the World.
With the lockdown in place almost across the globe, every company started looking for work from home alternatives. Zoom was the first choice in this case, and the trend followed the rise of many other companies. Currently, the demand for work from home software and solutions is through the roof as organizations want to continue operations without any risk.
In the first phase, hiring across all Industries took a big hit, and scarcity of jobs prevailed in almost every sector.
This was not the case with the technology sector, which, unlike other sectors, saw an increase in employment.
Referring to the analysis done by the Association of Professional Staffing Companies (APSCo), 35% of jobs were tech jobs all over London compared to the usual average of 15%.
Demand to digitize companies and their operations lead to IT firms working round the clock to fulfill the requirements. Situations in India link to a mixed response.
Many IT firms in Pune and Mumbai fired numerous employees, citing the lack of customers. Mostly small IT firms and BPOs were among the ones firing the most employees due to the sudden decrease in customer demands.
Software development and niche-based companies however, were working as smoothly as before.
Marketing is another sector which saw an uprising in customer demand. Most of the offline businesses across various industries realized the importance of digital marketing and shifted their focus online. This saw a surge in demand for IT-related marketing professionals.
Saas based products are also on the rise for almost all the sectors. Restaurants that contribute a significant portion to the country’s GDP are shifting to online menus and contactless ordering and payment using Saas Products.
The same is the trend in E-Commerce delivery as more and more people hesitate to go out to buy anything.
This puts the same amount of stress on warehouses and company operations, which are then handled using enterprise solutions.
The conclusion and the prediction for the future of the jobs market is very evident. IT jobs are here to stay and will dominate the vacancy charts for a long time. Newer technologies, combined with more demand from offline sectors pursuing to shift operations online, is the most significant sign of the upcoming trend. It is indeed the best time to learn and equip yourself with IT knowledge to excel in any Industry!