April-2020 Forward to a Friend

Munish Kumar
Board Member
Indian Staffing Federation

(CEO- InnovSource, A Firstmeridian Group Company)
    Future of staffing and its impact in 2020 (including the time of Covid19)

The staffing industry has been impacted by the COVID-19 pandemic with lockdowns being implemented on national and international scale. Many sectors are witnessing a slowdown, with job interviews either getting cancelled or delayed and positions being put on hold, especially in the services sector. Front-line hiring in BFSI, Retail and logistics have also come to a temporary halt.

On a broader scale, the world economy is under stress, and developing countries are sure to be impacted. While the UN and the G20 association are putting together a rescue package of trillions of US dollars as a lifeline for these economies, India and China might be exceptions amidst a global recession that is likely to hit this year. It is important to see how soon India is able to flatten the curve and go back to business as usual. China has done it and I see no reason why we won’t be able to do that.

Knowing very well the resilience of Indian Industries, employers across all sectors in India are bound to overcome these challenges and come out as stronger industry leaders. More companies will seek to hire young talent through apprenticeship programs like National Apprentice Promotion Scheme (NAPS). We will also see a strong surge in E-Commerce, FMCG, Pharma, ITES and Healthcare sectors.

I personally feel that opportunities are abound for the staffing industry regardless of the limitations posed by the pandemic and the global economic crisis that is staring at us. It is important for us to demonstrate patience and cautious optimism as we traverse through these uncertain times. I see this as a golden opportunity to learn, innovate and evolve into a better, stronger industry leaders with powerful business strategies including Tech enabled managed services that will lead to change in the recruitment sector.

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