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.
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"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