Seeing very solid demand for freshers in the market: TeamLease Edtech COO

62% of the employers have given a very positive indication for hiring freshers. By and large these demands are coming in from sectors like IT, telecom, BFSI, FMCG, digital oriented businesses and any consumer facing businesses. There will be the cycles that will happen and freshers need to maintain a positive outlook, maybe the hiring session will be delayed by a few weeks or readjusted, but by and large there is plenty of demand, says Jaideep Kewalramani, Head of Employability Business & COO, TeamLease Edtech

How should the freshers look at hiring going on side by side with large-scale layoffs?
There is always going to be rebalancing of talent within organisations. Most organisations, that are growth-oriented, will add talent in anticipation of business that is coming in but there might be certain global headwinds that might want them to readjust that. By and large, our domestic growth story remains extremely strong. There are some global headwinds which one or two sectors are facing but we are seeing a very strong demand for freshers and we recently released our career outlook report where 62% of the employers have given a very positive indication for hiring freshers.

By and large these demands are coming in from sectors like IT, telecom, BFSI, FMCG, digital oriented businesses and any consumer facing businesses. There will be the cycles that will happen and freshers need to maintain a positive outlook, maybe the hiring session will be delayed by a few weeks or readjusted, but by and large there is plenty of demand. It might be delayed but there is enough and more demand to absorb all the talent that is coming off. They need to focus on making sure they have the right skills and acquire those skills during the waiting period so that they become relevant to the hiring companies.

The report that you just mentioned being released, what kind of layoffs in terms of management levels are we talking about? Also, the hiring pattern that we were seeing in February in a lot of sectors, is close to around 10%, especially in the IT sector. Can we call it a revival mode that is also starting which is at a very base level right now? Is hiring on just for freshers or is it taking off all across?
It is too early to call it a solid revival. Obviously there are some global headwinds which Indian businesses want to be very cautious about. There is some softness in the market at certain levels but we are seeing a very solid demand for freshers at least. As that firms up, obviously the organization pyramid would want to be strong and demand for mid and top management should also come back. To your other question in terms of the kind of timelines that we are looking at, this could be anywhere from one to next three quarters given how certain events are shaping up like obviously last week everyone was spooked because of the banking crisis in the US, which seems to have kind of managed for now. Once those fears go away I do not think organizations have any reason to hold back their hiring.

Accenture is going to cut almost 2.5% of their workforce and this actually translates into 19000 job losses globally. Would you say this was expected ?
Yes, 2.5% and 19,000 jobs seem like a lot. But I would like to add a perspective. The natural attrition any organization goes through is somewhere around the same percentage points. And also, there will be an opportunity for organizations to look at underperforming talent and let go of them. So, while 19,000 seems like a huge number, if you put things into context of the attrition that the organization faces and how they want to rebalance their performers versus non-performers, it is not a really big worrisome number. Of course, if this goes beyond and they have to recast the numbers, then one might want to say it is a little worrisome. So, we would not want to call all the red flags out right now.

You mentioned rebalancing the talent. How exactly are IT firms trying to let go of the talent pool, which is not so great and trying to work out a balancing structure in this environment, which is full of chaos right now?
First of all, it is very difficult for anyone who gets laid off to handle the news and prepare for the transition period from the current organization to finding an opportunity because you never plan for such things that happens and then you kind of get into the activity part of it. But organizations, when they look at letting go of talent, usually look at opportunities to let go of non-performing talent or opportunities where they might have had excess staffing. They try and rebalance that within the organization itself because there are some pockets which have open positions and some pockets where there is excess talent.

This process is called internal job posting within a lot of organizations and they may use this opportunity to move talent around. A lot of organizations also lay emphasis on fungibility of the talent pool. There are certain basic skill sets that every talent possesses and that could be a good base for them to assess whether the talent is fungible across different processes, across different businesses. Geography, talent mobility and cost of talent becomes some limiting factor; while there might be a demand within certain groups, within the organization, they may not necessarily have the budget or the positions within the right geography.

Multiple factors kick in when you are looking at rebalancing. But by and large, it is a process that most organizations that have a scaled talent pool have mastered since the great 2008 global financial crisis. They know how to run these processes.

Taking this point ahead, because when you talk about softer skill communication, cognitive flexibility and emotional intelligence, this plays a very important role and not only for freshers, this should be even for people who are from the mid-management level or maybe even those who have laid off and want to start their second inning in a different way. What do you say?
For mid-level and senior managers, what is more important is their ability to reinvent themselves. Lifelong learning is a great skill. One must not shy away from acquiring new certificates, courses, or even sign up for higher degrees when they are faced with such a situation. It gives a very positive signal to the next employer that you are willing to invest in yourself and willing to reinvent yourself.

Decision-making, data analytics are also additional skill sets that one must continuously hone because at mid and senior management, you are faced with challenges where you need to give direction to the teams under you. Having skills that allow you to manage data, interpret the data, and arrive at decisions, or at least produce alternatives for the leadership is a great skill to have.

How can one prepare for their first ever interview?
The first ever interview is always the best, and it is always memorable. Try and get help from people within your network. Talk to your coaches. You obviously have family members or mentors who can help you prepare. Go with the top five questions. More importantly, why do you want this job, or what makes you suitable for this job is a question that one must be ready for.