[CAJobPortal Insights] 2022 in review

While 2022 saw us have a return to some semblance of normality, the scare of the new virus is in our midst yet again.

For us in the recruitment business at CAJobPortal.com, 2022 was the year of backouts – we missed a Billable CTC of INR 5 crores due to candidates backing out after the offer stage. In the past decade, we have never seen such a bull market in recruitment. Candidates were simply not in a mood to honour commitments – to attend interviews, to accept offers and to join. They were spoiled for choice. It was like – you will not give me an opportunity – there are 4 consultants waiting.

Also, when it came to interviews, it was a pain to have candidates agree to attend in person – why not MS Teams – was the standard question. “The company wants a look and feel of you” – just would not cut ice.

In fact, we had a fraud case, when Mr. X took the interview, got the offer letter, and eventually Mr. Y joined the company, who was lacklustre in communication– ‘red flags’ were raised – Mr. Y admitted to the fraud, returned the laptop.

Again, candidates were searching for WFH and companies were searching for WFO. 

We also see an increasing number of companies adopting flexi-work policies.  With hybrid work, casual leaves and sick leaves have become mostly obsolete – you can simply choose to work from home instead of working from home. Accordingly, companies have dispensed with policies like encashment of medical leave.

Metaverse that it is a “more authentic” kind of remote work. How much HR makes use of metaverse: virtual reality (VR), augmented reality (AR), AI, digital currency, and social media. Not only do HR leaders have access to the necessary tools and know-how to implement this change but they also need to ensure the future of work is designed with people in mind. For instance, people can wear VR goggles and extend their limbs, so they can shake hands with a colleague. They can “walk” over to another part of the virtual room to have a private conversation.

It also remains to be seen how 2023 will be for us. Recession on the cards?