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The current state of jobs: What should India expect from 2023?

Its already August, Let us have a look on what 2023 has in store for all the job seekers.

Despite fears surrounding the economic slowdown and resulting layoffs, employers continue to be optimistic about hiring in 2023.

Today, changing employee demands have made attracting, retaining and engaging talent a challenge for HR professionals.

It is equally crucial for employers to cater to the needs of the post-pandemic workplace, and for job seekers to stay on top of the curve in a competitive job market, 2022 trends like moonlighting and quiet quitting have demonstrated that employee well-being and flexibility are key demands for employees and is likely to continue in 2023 as well.

A competitive salary is no longer enough to attract top talent, and employers must evaluate these trends to relook at their current workplace policies and hiring strategies.

Additionally, employees are also prioritizing opportunities for learning and upskilling, especially within the fast-evolving digital skill sets. Our survey revealed that 50% of employees are preparing for new opportunities by reskilling/upskilling.

Overall, it appears to be clear that the job market will continue to see growth in 2023. Government proposals to streamline tax administration and minimize compliance burdens on taxpayers are expected to provide a boost to the business environment and attract more companies to India, resulting in further job growth across sectors.

The strong focus on job-creation will drive macroeconomic growth, improve the standard of living, and contribute to a more equitable distribution of income, helping to navigate the impact of layoffs and recession in the job market.

By staying abreast of trends in the jobs ecosystem, understanding the needs and demands of the workforce and creating proactive strategies to address the challenges brought in 2022, both employers and jobseekers can make the most of these developments.

Image by Ivan Gromov


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