The Global Economic Crisis of 2008 saw a lot of job losses and a complete stop in hiring activities by many firms. While recruitment activity returned to normal after a few months, the job loss numbers have been multiplying manifold and we see many folks at middle and senior management being laid off or struggling to get back to a job after a break taken voluntarily or due to compelling circumstances.
The magnitude of this Job Crisis is expected to only increase with time due to factors like: –
- The dynamics of the rapidly changing Political & Economic Global Scenario which is making some sectors unviable or reducing profit margins drastically for others leading to manpower rationalization.
- Venture Capital Funding Bubble that propped up large organizations that failed to become profitable or give adequate returns to investors and hence went bust leading to them shutting down leaving large numbers jobless.
- Rapidly advancing/changing Technology scenario with developments like Artificial Intelligence, Viable Solar Power, Electric Vehicles etc. which is going to again lead to upheavals, organizational restructuring, the reworking of business plans again impacting jobs directly.
- The tightening tax regime and a digital economy that has reduced scope of widespread evasions making some sectors like real estate go through a massive churn. Though beneficial in the long term for the country and the economy, the short-term pain is mostly in the form of job losses.
Hence the direct impact of these factors has been that a large number of people today are in-between jobs and the struggle to get one is increasing by the day.
I typically get around 100 Linkedin connection requests in a day, of which almost 50% are looking for a change in job and out of this at least 50% are the ones who are in between jobs and presently not working.
As a Search Firm, our clients have very specific mandates and it’s rare that we are able to match a senior resource in desperate need of a job with an existing opening. Some of these people are in such dire need of a job as they are the sole earning members of their families and one does feel helpless at times, as although we are in the business of jobs, we can’t do much to help.
To overcome this, a couple of months back I decided to leverage my 16000+ connections on Linkedin and share the basics of the profile of a few persons looking to get back to work after a layoff/break. In some cases, I even tagged the person if they were comfortable with it. I then asked my network to let me know if they had any openings which could fit that profile, and I would be glad to share the resumes and they could directly connect with the candidates and assess to see fitment. This whole exercise was pro bono.
Since a lot of my connections were at CXO levels / HR Heads, it was heartening to see people responding to help and offering to see if the person fit in with their existing roles. I am glad to inform that some people started getting jobs through this effort.
Although I would want to do this exercise on a continuous basis I would definitely need ongoing support from Corporates, Start-Ups, CXO’s, HR Heads and even other Recruitment Firms.
I am looking from my network for suggestions on how this small effort to help can be scaled up or improved upon, so it can help more people in need. At present, I am not even in a position to read all the requests I get every day from people looking for a job urgently since the numbers are large and typically I do this referral activity in my spare time. Also, not all candidates that I put out there get sufficient response. Some do and some don’t.
A couple of requests to my network that can help for now-
- For a lot of senior roles Corporates have defined Job Descriptions with well-defined candidate profiles needed for that role and typically there is not much scope for deviations here, especially when they hire a search firm to fill this role. However if any positions are there where they are flexible on any role in terms of the candidates they can take (without constraints like prior experience in that sector, location, age etc.), then if they can share those positions with me on my mail id firstname.lastname@example.org, I would happy to share any candidates if available looking for help.
- They can follow such posts where I promote a candidate looking out for a job on my LinkedIn and let us know the moment they feel a person fits any of their openings. Alternately they may occasionally share an opening for which they want candidates pro bono and we would share if we have anyone at that point who fits in and is in need of a job.
Looking forward to hearing from as many folks on how together we can help every person who has lost his / her job and wants to get back to work.
Job Crisis & How we Can Help – Published on Linkedin by Shantanu Saha (Oct 2017).