Companies may resume hiring activity by January 2021: Report

Campus hiring is expected to remain subdued, as 27 percent of companies stated they had no plans to resume the activity, while another 39 percent said they are unsure

Moneycontrol News

July 09, 2020 / 13:06 IST

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Companies have indicated that hiring across the board, with the exception of campus recruitments, will resume by January 2021, a report by Career Net Consulting found.

In fact, 43 percent of companies that halted hiring due to the coronavirus pandemic said that they have already begun "selectively filling" positions that would become active in six months, The Economic Times reported.

"This seems to be a 15-16 month cycle and momentum should touch pre-COVID-19 levels by April 2020, at a lower base due to downsizing over the last six months," Anshuman Das, co-founder of Career Net told the paper.

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Close to 34 percent of Human Resource (HR) and talent acquisition team heads said they would hire this year. However, campus hiring is expected to remain subdued as 27 percent of companies stated they had no plans to resume the activity, while another 39 percent said they are unsure.

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A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

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