The hiring frenzy of last year is abated and the volume of hiring has gone down dramatically, according to S Pasupathi, Chief Operating Officer of HirePro, a recruitment technology and assessment solutions company. The simple logic is when the job market is bad, the joining ratios are good. So, companies are finding it less arduous to attract and retain talent. They don’t have to hire excessively to meet their demand like last year.
This is why IITs and other top engineering colleges are fairly insulated from job insecurity, says Pasupathi. “When companies have had a good experience at a college, they tend to continue to frequent the same campuses. No risks will be taken. Especially during times of crisis,” he says.
If you are entering the job market, prepare yourself for what’s coming and have patience, says Pasupathi. One of the major errors students commit is making long-term choices based on today’s conditions. “If you are passionate about software development and you are decent at it, but still unable to find a job, instead of making a hurried pivot or taking some drastic turns, just wait and keep at it. It gets better,” advises Pasupati.