The devastating impact of COVID-19 on Indian workforce can be assessed from a survey which has revealed that one in 10 active job-seekers has been handed the pink slip.
Naukri.com rolled out the survey to 50,000 active job-seekers, seeking their views on the jobs market, career progression and increment expectations.
The survey revealed that of those laid-off, 15 percent were from the airlines and e-commerce industry each and around 14 percent were from the hospitality industry.
Here, around 13 percent of the laid-off employees were senior professionals with more than 11 years of work experience and were working in either sales (12 percent), HR & administration (12 percent), marketing (11 percent) or operations/supply chain (11 percent) roles.
The survey also noted that job-seekers from the IT, pharma, medical/healthcare and BFSI industries were less affected by layoffs and salary cuts compared to their counterparts from other sectors.
As far as job change is concerned, 70 percent of job-seekers are scouting for better career opportunities followed by 16 percent due to salary cuts and 14 percent due to the fear of being handed pink slips.
"While only 10 percent job-seekers confirmed that they have been laid-off as per the survey, almost 34 percent fear that a layoff is imminent. On the positive side it is heartening to see that more than 50 percent of jobseekers are focusing on upskilling for better career opportunities and that is a sure shot way of long-term career growth," said Pawan Goyal, Chief Business Officer, Naukri.com.
With respect to upskilling, data science & analytics courses (22 percent), followed by digital marketing (20 percent), and finance/risk management (16 percent) were amongst the top courses being picked up by job-seekers to brush up their skills.
What about imminent layoffs and salary cuts?
There is a mixed feeling around layoffs and salary cuts amongst job-seekers. About 41 percent of the job-seekers were positive that layoffs are not likely to happen in their organization. These jobseekers were mostly from the BFSI, IT and pharma industries suggesting a relatively higher job security sentiment in these industries.
On the other hand, 59 percent of the job-seekers, mostly from the airlines, hospitality, e-ccommerce and BPO/ITES industries, confirmed that the layoffs are either already announced or most likely to happen in the coming days.
On the salary cut front, one-third of job-seekers indicated that salary cuts have not yet been announced but are most likely in the near future. In the most impacted sectors such as airlines, hospitality, and e-commerce almost half of the job-seekers indicated that salary cuts have been announced in their companies.Follow our full coverage of the coronavirus outbreak here