Overall Demand for Jobs in 2020 Would Be 14 lakhs in 2020: Report
COVID Impact: total job losses estimated at over 10 lakhs, income loss pegged at Rs 2467 crore per month
India’s tech platform for Blue-collar workforce management, Betterplace has launched its yearly blue-collar jobs report for the second consecutive year. The report which is based on data from the past 5 years, 1000+ companies, 20,000 pin codes, 80 Lakh employees & millions of data points gives insights into the ground realities, pandemic impact concluding with the path to recovery.
The paradigm & reality shift that is poised to sweep across the blue-collar ecosystem is the expectations of the job seekers and its impact on their employers. The migrant workforce returning to work due to the necessity of sustaining a livelihood expects a healthy, safe & stable work environment. Visibility of guaranteed income and healthcare insurance cover is uppermost in the minds of the migrant workforce.
Key findings of the report:
● Overall demand for jobs in 2020 would be 14 lakhs
● The gig economy will lead 80% of overall demand
● Demand is at 70% of 2019 levels
● Demand in Q2 2020 dropped by 80% of Q1 2020
● Q4 2020 likely to close at 90% of Q1 2020
The Betterplace Job Report 2020 indicates that as the economy is beginning its recovery, sectors like delivery and healthcare will surpass pre-COVID levels and job opportunities will see massive growth in tier 2 and 3 cities. Bangalore and the 4 metros will generate 70% of demand pre-COVID levels.
Pravin Agarwala, Co-founder CEO, Betterplace, says, “The COVID outbreak in India impacted the blue-collar sector more than any other. Lakhs of migrants walking back to their villages which led to their absence in industry and our daily lives demonstrated how urban India is dependent on this workforce. With the onset of the festive season across the country, it is heartening to see Governments and private sector employers rising to this challenge because they expect the festive season to pave the way for the recovery. Based on our report, we are already seeing green shoots appear in demand generation in cities like Bangalore, Hyderabad, Mumbai and Delhi. This report reinforces the fact that the jobs pipeline on the ground is robust. With the application of AI-based technology which matches skills and Jobs, both the job seekers and employers will be winners. As a result, our country and economy wins.”
The migrant workforce is expected to return in search of jobs as the fear of pandemic subsides and the need for earnings will drive them back. The employers who would provide them with a stable, safe and healthy work environment would attract a majority of the returning crowd.
Saurabh Tandon, Co-founder COO, Betterplace, says, “We believe that demand generation will be faster in tier 1, 2 3 cities like Hyderabad, Pune, Noida, Gurgaon. As per the Job report 2020, reasons for recovery will be driven by factors like the critical need to rebuild support systems for essential goods, continuity of businesses, better understanding and infrastructure to fight the Pandemic. As the report indicates that safety and health are now of paramount concerns on both sides of the aisle, the Blue-collar segment will embrace digital transformation at every level - right from digital onboarding, payroll, attendance and flexible hours. Large employers have already taken a lead in this direction, we expect mid-size companies in security and facility also to embrace digitalization across their distributed workforce management verticals.”