Deciphering the Job Paradox

Deciphering the Job Paradox

Candidates can’t find Jobs &

Employers can’t fill openings

 

Fact 1 – Larsen & Toubro fires 14,000 employees.

Fact 2 – 48% of the employers in India can’t fill their vacancies.

Foxed!? Lets delve into details –

Larsen & Toubro, India’s biggest engineering firm, has shed 14,000 employees, or 11.2% of its total workforce, in one of the biggest corporate retrenchment exercises in recent times. “Record Layoffs!” cried some media headlines.

Manpower Group just shared the results of its Manpower Shortage Survey 2016-17 recently:

  • 40% of the employers have difficulty filling openings – global average.
  • This is the worst shortage since 2007 (at least).
  • In India, the shortage is a staggering 48%.

The 8 most difficult to fill jobs in India are:

  • IT Personnel
  • Accounting & finance staff
  • Project Managers
  • Sales Managers
  • Customer Service Representatives & Customer Support
  • Technicians
  • Quality Controllers
  • Buying & Procurement staff

Job Vacancies - Manpower Shortage in India and the World

Surprising, and counter-intuitive, isn’t it? Not entirely.

Digitization, automation and process optimisation – every corporate, big or small, is looking for means to streamline operations, improve margins and reduce fixed costs.

The Outcome –

Core business functions are vested in select high-quality employees.

Demand is specific

Corporates are not able to find the right talent, to fill up the “openings” they have – which demands specific skill-sets – management capabilities, energy, drive, experience and industry know-how coupled with sharp business acumen.

Supply is not ready

On the other hand, the supply of employees is often dominated by an ocean of undifferentiated profiles. If you have been recruiting in the recent years, you surely have experienced the deluge of people on the lookout, yet may have faced difficulty in finding the right match.

There is a sharp need for job-seekers to upskill themselves, to get ready to take on the high-profile roles on offer. Much of this is not possible under the circumstances of their current jobs. Freshers are finding it more difficult to make a mark on the recruiters’ minds these days – there is just so much competition.

 

The 4-step MentorYes Solution for candidates

#1 – Self-evaluate – Identify where you really stand – an unbiased, unemotional, realistic assessment. If it is difficult, find a trusted elder / mentor to help you and ask the right questions.

#2 – Define your Aspirations – Figure out what you love doing, what you are good at doing, what will pay you well and what are the opportunities available. Note that these are four very different parameters and the convergence of these options yields the optimal solution.

#3 – Figure out what you need to do to achieve “that aspirational job” – Speak to suitable potential employers, industry experts, research as much as you can about it, understand what the role entails – and compare it with your current capabilities.

#4 – Plan and do “what it takes” to get the job – Work on the goal with a singular purpose, with a smart productive approach. Up-skill where you need to, meet the right people to put in feelers in the market, tie up with the right agencies, build a winning CV and get all set for interviewing!

 

MentorYes provides mentors for career guidance and planning. If you interested in seeking or offering mentorship, visit us at mentoryes.com.

Find your Right Mentor at MentorYes.

I would love to hear from you – write to me at deepak@mentoryes.com.

Deepak Hariharan is the Co-Founder and CEO of MentorYes.

(All views and opinions expressed in this article are those of the author and do not necessarily represent MentorYes’s viewpoint or recommendations. Readers are advised to consider and evaluate the views presented here before implementing them in their preparation or otherwise.)
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