Over 6 in 10 Indian job seekers depressed over layoffs, not giving 100% in current jobs

About 65 per cent of jobseekers (more than 6 in 10) in India feel that the ongoing layoffs may hinder their willingness to go the extra mile in their jobs, a report showed on Thursday.

Given the market uncertainties and economic climate, jobseekers are hesitant in their current work, demotivated by layoffs and are not willing to fully commit to their current job as well, according to the survey by leading job portal Indeed.

More than half of the employees (57 per cent) are unenthusiastic or bored about their current jobs in India, with over 50 per cent of them preparing for new opportunities by reskilling/upskilling.

About 28 per cent of those looking for jobs said that they will prioritise happiness and flexibility and 19 per cent indicated that a good work life balance is a priority, the findings showed.

"Going into 2023, it is evident that employees are prioritising mental wellbeing and work life balance amidst the various fluctuations that are occurring in the world of work," said Sashi Kumar, Head of Sales, Indeed India.

As organisations wait to see how global movements affect the Indian jobs landscape, it'll be integral for them to also relook at workplace culture and the current sentiment at work, in order to retain talent," Kumar added.

Employers are, however, optimistic about their hiring activity during 2023, with 45 per cent of them foreseeing up to a 20 per cent increase in hiring.

Inflation (18 per cent of employers) and ongoing layoffs (15 per cent of employers) are things to be on the lookout for in 2023, respectively.

In the coming year, employers will also be keen to step up their hiring practices.

About 35 per cent of employers look forward to adopting AI/digital/social media for talent acquisition and 26 per cent plan to explore hyper-local/niche job boards, the findings showed.

This year, about two out of every three employers (64 per cent of those surveyed) hired between October to December.

This marks a significant dip (down from 78 per cent) and reflects a slower pace of hiring activity compared to the previous two quarters, likely caused by global economic shifts, said the report.