Last year and this rocked with big layoffs. Ironically, in May, Microsoft-owned job search network LinkedIn cut 716 jobs, shutting down its China-focused job application. But has come out of these difficult times?
Some people say that these big layoffs have led to a new wave of startups. According to a study by BizReport, which looked into the LinkedIn profiles of layoff victims to find the answer, for every 100 people who lost their jobs, 13 started their own companies.
Read more: Tech still rules Indian job market
The study also says that Meta generates the most startups from recent layoffs. One out of every three former workers in Meta start their own business. Also, after being laid off, software engineers are most likely to start their own companies. Nine out of one hundred startups are established by former software engineers.
Staying Where They Are
Another trend emerging in the aftermath of the layoffs is that a majority of Indian jobseekers (47%) are not looking to switch jobs in 2023 according to jobsite Indeed. In what was being called the era of the great resignation, the site says employees are bucking the trend by choosing to stay put in their current organizations, with over 37% of all jobseekers looking to prioritize their career growth in 2023. The survey further reveals a considerable dip in hiring.
Post-pandemic spike in demand for customer service reps
The pandemic has created the need for more virtual customer service representatives, an exponentially rising demand for quick-commerce platforms, and growth of the app economy. Data from job site Indeed revealed an exponential surge in demand from jobseekers for call centre and remote customer service jobs over the past four years. While job postings too have witnessed a moderate rise of 16.2%, a dramatic increase of 432.80% in clicks per million has been observed since 2019.
Bangalore leads job postings in this segment by a large margin, contributing to 19.14% of total jobs. This is followed by Delhi (9.33%), Mumbai (9.11%), Chennai (8.33%) and Hyderabad (6.31%).
The data reveals that there was an elevated demand for call centre and remote customer service jobs in the period from Jan 2020-2021, with a 498.40% increase in job postings and a tremendous increase in jobseeker interest (1405% increase in clicks per million).
The overall rise in call center and customer support jobs over the past five years indicates that businesses are recognising the rising importance of improving customer experienceSashi Kumar, Head of Sales, Indeed India
Sashi Kumar, Head of Sales, Indeed India said, “The overall rise in call center and customer support jobs over the past five years indicates that businesses are recognising the rising importance of improving customer experience.
“Especially in a post pandemic world, there is definitely a growing need for professionals who can manage customer interactions with empathy and efficiency, while also possessing the technical expertise to work with emerging technologies like AI and machine learning. It is also heartening to see that the country is a preferred destination for call centers and customer support outsourcing due to its large pool of skilled workers, lower operating costs, and proficiency in English.”
In the wake of significant layoffs, a surprising trend emerges. Amid adversity, a surge of startups takes root. Contrary to expectations, a majority of Indian jobseekers opt to remain in their current roles, prioritizing stability and growth. Simultaneously, the pandemic fuels a steep demand for virtual customer service representatives, with Bangalore as a focal point. In a changing landscape, resilience and adaptability shine.