COVID-19 – THE NEW NORMAL—INDUSTRY SCENARIO

The world is facing humanity’s biggest crisis since World War II. Almost every country has been affected by the devastating Coronavirus disease (COVID-19). Undoubtedly, this Coronavirus has put the world economy at a major risk. Businesses and individuals alike have had to adapt rapidly to cope with uncertainty and anxiety in a seemingly unending ordeal. The perseverance of businesses and people has led to the emergence of a new landscape- a ‘New Normal’ in which the global communities continue to survive.

There are several channels through which the COVID-19 outbreak has affected Indian economy. The disruption of supply chains is a major one. Job loss is on the rise along with the slowdown in manufacturing and services activities. Workers have come back to their home in faraway places, thereby leaving the upcoming harvest in a state of uncertainty. Lack of orders and initiatives has lead to massive trade contraction. Besides, there has also been a disruption in air travel, fall in travel and tourism, contraction in outdoor entertainment industries and rise in bankruptcy.

The following sectors have been adversely affected by the pandemic:

  1. Apparel & Textile Industry has seen a disruption in labour supply, raw material unavailability, working capital constraints and restricted demand due to limited movement of people and purchasing ability.
  2. Auto Sector(including automobile & auto parts)has been facing challenges on account of lack of demand, global recession and failing income levels.
    As per McKinsey & Company, global trends impacting the automotive sector are as follows:

    • Global supply chain disruption
    • Cautious demand outlook
    • Shift in mobility trends
    • A resilient aftermarket
    • A potential auto investment
    • Deal activity to grow
  3. Manufacturing Sector : India offers a strong manufacturing base. During the COVID-19 pandemic, it has announced some incentives to global firms that seek to set up new operations or expand their existing operations. While India offers a range of advantages as manufacturing destinations, capitalizing on these opportunities requires a multipronged strategic approach across three broad dimensions:
    • Understanding the local regulations
    • Getting the location right
    • Building an India-specific organization structure         
  4. Building & Construction are generally leveraged and they are burdened with high-interest payments and lack of sales.
  5. Aviation & Tourism Sector has also been deprived of direct Government intervention. Since lockdown, people have stopped travelling apart from very essential travel.
  6. The Paper Industry has almost been wiped out as the world looks to adopt more environmentally friendly ways to live. Digital is the new normal.

For many business organizations, technology is considered to           be a support function with it being used as a means to get to an end. Following the pandemic, this has changed as technology has become the frontline requirement in most organizations. It’s importance can be comparable to that of revenue-generating functions such as sales and business development.

The next 4-5 years are going to be the golden period for media & entertainment. 3D/4D chatrooms and conference rooms are going to emerge rapidly. The largest chunk of media spending will shift from television to digital. Print media will cease to exist.

Businesses will experience an increase in productivity due to reduced staff. Remote work will see an uptick. The burden on local transport will ease.

High End Technology with an uninterrupted high-speed internet powering the video lectures, online projects, etc is now no more an option for the students since physical classrooms are minimal and will be kept that way in post Covid 19 scenario as well.

Coming to the professional sector,  Remote Working and Work from Home seem to accelerate as  companies are giving more stress upon two factors-Health and Hygiene. In this way, productivity has risen since commuting time, expenses and energy are saved. However, to ensure all these, advanced technologies such as Artificial Intelligence, Machine Learning & Deep Learning , automation, robotics, augmented reality, Block-Chain and 5G will be the most coveted for all the industrial sectors as every industrial segment starting from BFSI, Information technology, Manufacturing, Health care, Supply Chain & Logistics, Power etc have to develop and adopt new business models.

To conclude, this is the time to rethink and reset everything. Never before has the world come to a standstill where one can pick apart the moving pieces. If we rethink everything properly, we can overcome the challenges faced by the people in this pandemic such as environmental change, disfigured lifestyle and inequality.

Unique Facts About Recruiting Agency For Companies In India

According to a survey conducted a few years back, a recruiting agency for companies in India has become a blessing for companies of every size. An experienced recruiter is the best professional a company can approach to take care of their staffing needs. They have adequate and updated knowledge about the employment market. Even if a candidate is passive or selective, they leave no stone unturned in ensuring to select the best for your company. If you are also planning to take the aid of a recruitment agency in India, there are a few unique facts about them you should know.

Recruiting agency for companies in India

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Advantages of Availing Hr Consultancy Services

HR consulting services is not a new phenomenon in India. For many years now, specialized human resource agencies have been providing streamlined services to their clients. Many firms specializing in HR Consultancy is playing a pivotal role in this regard. HR consulting firms can have a positive impact on the bottom line of an organization, and so small to large size businesses are readily using its services. 

Advantages of Availing Hr Consultancy Services

Many companies are outsourcing their entire HR operations from payroll, training to benefits to give themselves more space to explore wider business opportunities. As businesses are focusing their energies on revenue maximization, outsourcing your HR division to vendors takes off the pressure from the noncore areas of operation. In this article, you be looking at some of the advantages HR consulting can provide to your business.

Performance Assessment

HR consultants are apt at assessing the performance of the employees. They can help you to implement training modules to skill your existing staff. Sometimes it becomes difficult to visualize things from a close perspective, and so an HR consultant can give you an outside view of a situation. A consultant agency can offer quality solutions to your problems.

Employment Process

A company needs an effective recruitment and hiring process to stay competitive. An effective HR policy consists of hiring the best talents to stay competitive in the market. An outside consultant can act address your employee hiring issues and hire the right people for the job. They can also provide you with top advice to retain your existing talents.  There is also less prejudice when you hire an outsider to do the job on your behalf.

Leveraging Smooth Communications

HR acts as the link between the top management and the employees. An outstanding firm can ensure an adequate flow of communication between the two tiers. They are experts at assessing employee satisfaction, behaviours, and empathy and pass effectively passes this on to the management. So, it becomes easier for the administration to shape their employee policies according to the advice provided by these firms.

Providing Sound Advice

Consultancy firms are experienced in dealing with HR issues. They have expert people on board to sell with any kind grievance and lend a sharp ear on management concerns as well. They ensure a smooth flow of daily operations and maintain the productivity level of the employees. Many small firms who can’t afford to keep a committed HR team within their organization can benefit immensely from these services. Most consultants work hard to upgrade their skills and are thus equipped to handle any issues.

Preparing a Plan of Action

Developing human capital is the courage of any consultancy firm. They will plan the workforce for your organization and devise plans to build your employee engagement strategies for you. In this way, they ensure that you have the best team working for you at all times.

Hiring an HR Consultancy in Ahmadabad saves you both time and effort. You can concentrate on growing your business prospects while the firm focuses on strengthening your employee base.

Know The Placement Process Followed In Indian B-Schools

Getting placement through an Indian business school is more complicated than you think as there are hundreds of students willing to get their offer letter from their dream employer.  You will be surprised to know that there are thousands of management students scattered all over the country. You can get the edge over your peers if you have some additional qualifications and are aware of the placement process.

Know The Placement Process Followed In Indian B-Schools

5 Steps To Follow If You Want To Get Placed Through B-Schools

  • Shortlist Your Employers

It is not just about the numerous management students but you also need to choose from numerous employers. The first thing you need to do is to make a list of all the employers you are willing to work with before ranking them according to your preferences. Make sure you place your favourite employer at rank 1 as you might not even get a chance to attend other placement interviews if you get selected by them, http://Pokerperception.com.

  • Invite Companies

The easiest way through which you can start contacting prospective buyers is by becoming a member of the student placement committee. If there is a relevant vacancy, ask them about the hiring process and the skills required. If the company visits the campus regularly, they might even share the total number of pre-placement offers. Generally, they prefer students who have completed an internship with the firm.

  • Get Ready For Interviews

If you want to face the interviews with confidence, get in touch with HR consultants in Ahmedabad and get prepared for the interview. Companies are usually divided depending on the sector they belong to. Try to attend as many sessions of corporate presentations you can if you want to get an idea about the company’s vision. These sessions help students get a perspective about the company they are willing to work with.

  • Enhance Your Soft Skills

A majority of the Indian business schools nowadays prefer candidates who have both the professional qualifications and soft skills necessary. If you are a part of a renowned B-school, they might set up an internal aptitude test mechanism before sharing the results with the employers. As far as soft skills training is concerned, you should have good body language, answer hypothetical questions properly and dress for the interview professionally.

  • Get Shortlisted For The Interview

Know the date your preferred employer will visit the campus and keep the aptitude test scores and necessary documents ready. How long will the company take to process the applications is dependent on various factors. If you have the necessary academic qualifications and a strong resume, there are higher chances for you to get shortlisted for the interview.

  • Selection And Joining

The employment letter is sent once you are selected by a company. You won’t be able to sit for other interviews if you accept the job offer. Once you have signed the selection and acceptance letter, you will be given a joining date. Get in touch with the company HR if you don’t get a joining date if three months have passed since you have signed the acceptance letter.

Time to follow the steps stated above and getting your dream job through your business school will become easier.

5 Latest Recruitment Trends Recruiters Must Implement In 2019

Do you wish to increase the number of qualified candidates in your company’s talent pipeline? Planning to improve your recruiting strategy for attracting skilled candidates? But, are you perplexed about how to set yourself apart from competitors? Well, expert HR consultants in Ahmedabad advise you to take advantage of the newest recruitment trends. 

5 Latest Recruitment Trends Recruiters Must Implement In 2019

Currently, the job market is 90% candidate-driven. Recruiters are struggling to attract qualified candidates from the large pool of unskilled applications for filling their open job positions. Gone are the days when traditional recruiting strategies were enough since organisations today face tough competition to attract competent candidates. Owing to technological advancements, start-ups are now competing with MNCs for the same talent. Moreover, digital disruptive technologies are gradually changing the way the recruitment exercise is approached by HR.

Here’re the latest trends which recruiters need to take advantage of!

From The Best HR Consultants In Ahmedabad: New Recruiting Trends You Must Use To Attract Top Talent

  1. Artificial Intelligence (AI)

Using Artificial Intelligence (AI) is one recruitment trend which everyone loves. Gradually taking a foothold in the recruitment process, AI is the secret workhorse of every good talent and acquisition manager now. This new technology will take care of your usual repetitive tasks like searching for candidates, CV screening, etc. AI technologies like Chatbots even help you respond to the questions of different candidates.

  1. Social Media Recruitment

In the current job market, searching as well as recruiting candidates through social media is rapidly increasing. Even though finding eligible candidates by using social networking sites like LinkedIn, Facebook and Twitter aren’t new, the disruptive force of change is forcing most job searches to various social media sites. Moreover, with the features of these sites improving constantly, social media sites find it to be the better place to find talented candidates.

  1. Big Data Analysis

Most talent acquisition managers believe that data analysis is driving the new recruitment trends which impact on how companies appoint new talent. Though the concept of utilising data for talent acquisition isn’t new, the increased volume of data being churned out by businesses makes it a very valuable tool for recruiters. Considered as the new superpower of recruiters, data provides insights which help to recruit managers to make informed decisions. Currently, managers are using data for making strategic decisions.

  1. Recruiting Software & Applicant Tracking Systems (ATS)

More and more recruiters are now turning to recruit software so that they can increase the efficiency of their recruiting process. Almost 70% of recruiting companies are currently using some kind of applicant tracking systems. When it comes to talent acquisition, there are numerous benefits for the ubiquity of this software. ATS helps in documenting employee records and the related recruitment history and activity.

  1. Video Interviews

No matter whether you are an MNC or a start-up, you can easily tap on the talent pool worldwide. Thanks to the technological advancements, geographical distances are no longer a boundary for hiring top talent. Teleconferencing is one of the newest advancements which has enabled and encouraged telecommuting.  A majority of companies are even turning to video interviews for face-to-face interviews- the first round of screening candidates.

Time to put your innovative gears on for hiring top talent!