The COVID-19 pandemic laid a devastating path in its wake. It continues to drastically hinder peoples’ lives and is successful in adversely affecting millions. The worst people facing the paralyzing impact on the virus is the student community. The pandemic effect on placements industries is one of the worst situations the whole world is facing right now.
The students who were looking forward to graduating or completing their courses in 2020 were brought to an unprecedented standstill due to this pandemic. They were preparing to get a kick start on their careers but, in these trying times, most of them are awaiting their final examinations.
As stated by All India Survey on Higher Education, more than 23 million students opt for undergraduate courses and programs in colleges and universities all over India.
According to the guidelines set by the University Grants Commission (UGC) for Central Universities, some students will be graduating by August 2020, while some states are still deciding over their exam schedules due to pandemic effect.
Companies Face Diverse Pandemic Effect
The pandemic effect has cornered thousands of companies into tight spaces as revenues decreased and the stock market suffered. Companies like Tourism, Hospitality, Agriculture, and such have suffered heavy losses and have been freezing their hiring process especially for freshers.
The hiring situation in India will need a notable amount of time to battle with the adverse effects the virus has thrown at them. there will be 60-65% interviews getting delayed, mostly in the services sector and industries will follow suit with a significant slowdown overall.
Team Lease Services Business Head said, “Since the outbreak of COVID-19, companies have been cancelling interviews. It is expected that 60-65% interviews will be dropped or delayed as there is lockdown in many parts of the country and people are encouraged to stay at home to curtail the spread of the Covid-19 virus.”
The CIEL HR Services Chief Executive Officer Aditya Narayan Mishra, echoing the Team Lease Services Business Head said that the coronavirus has proved to be a global challenge and that, “this is going to push many critical projects to slow track and impact revenues and profitability. As a result, companies will delay their hiring plans.”
Campus Placements Rendered Helpless In The Face
Pandemic effect on placements has been devastating. Campus placements witnessed companies reducing the hiring rate to nearly 44-50%. Students are understandably perturbed for their career and future professions as the job sector has arrived at a finite halt. organizations have frozen their hiring for new employees and are in the process of realigning their business processes.
However, every cloud has a silver lining. Some universities and colleges are successful at coming up with solutions for the advantage of the students and job aspirants in the current pandemic effect situations.
A Silver Lining Among The Darkest Of Clouds
Mammoth companies like TCS, Accenture, and Cap Gemini have adapted themselves to turn completely virtual in the face of the cruel nature of the pandemic. They have been hiring freshers for work-from-home jobs that benefit everyone.
In the banking, logistics, and exports sectors, the companies have reached milestones in the COVID-19 by opting to go virtual.
Digital marketing and digital payments, online shopping platforms, and ecommerce have seen a significant rise as the world started turning virtual instead of face to face.
Students have a better chance in getting an assured job in these sectors more than the others who operate on field work more.
While the entire world has gone virtual, this has led to technology getting better, and with better technology, interviews are made convenient and fast. Companies and industries are opting for Skype interviews rather than face-to-face interviews.
Industries and companies, instead of hiring experienced employees, have decided to hire double the number of freshers.
This has a win-win situation for both the student and the company. A fresher would be offered half the salary from that of an experienced employee.
Incidentally, a Sales company could hire more freshers in place of one experienced employee. More employees would bring in more revenue and be advantageous to the Sales company. And inexperienced students would also be given a chance for employment.
Institutes have quickly adapted measures in lieu of current situations and are providing solutions to their students and being beacons to the entire education industry. The country can progress only when the future of these students is secured.