The pandemic has created a volcanic rise in the unemployment rate in the country as businesses are cutting down on their budgets. all seems like bad news as LinkedIn pages seem like Facebook confessions – after professionals have started targeting their ex owners for the lay off. Most companies are not ready to offer jobs to new candidates and want to drop 30% of their employees. Due to lockdowns in every city – lesser demand has also lead to lesser production to otherwise everyday items that found its horsepower in the life’s of the customers. It has also impacted the supply and demand of the economy. Furthermore, this virus has caused a fall in the economy with many businesses and has affected the job candidates in a disheartening manner.
Losing an employee or a candidate with such dedication will be a great loss for the company. But as they say – necessity is the mother of invention. In recent times, there have been recruitment agencies – who have started providing training to the very resources that they outsource. Which has given the Employers a second option – to send the candidates back to their agencies, for further training, with a lesser pay – instead of a termination.
Though many companies are following pandemic policies and sending potential employees back home. Owning the training model might be the middle ground – where companies don’t have to lose capital, and at the same time retain talent.