India decoupled from global recession, best of employment yet to come: Quess Corp founder

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According to Ajit, founder and non-executive chairman of business services provider Quess Corp, India has largely insulated from the recessionary prospect of the rest of the world and current hiring trends indicate that the country will have a strong job market in a few years. There is a possibility of seeing an employment growth rate. Isaac.

“India is reasonably isolated from the rest of the world in terms of the potential for recession. We will continue to see growth in India, maybe not at 8%, but we will see growth… We saw a great period of growth in employment between 2000 and 2007. GDP grew from $470 billion in 2000 to $1.2 trillion in 2007. Speaking at an event in Bengaluru on Wednesday to announce the rebranding of job discovery portal Monster India, Isaac said, “If current trends are any indication going forward, we will be able to see that rate of growth in a few years.” ” in SE Asia & Middle East talent platform ‘Foundit’ to offer a range of services to job seekers and hiring managers.

Quess Corp acquired Monster Worldwide’s APAC and ME businesses in 2018 as a strategic investment to strengthen its HR services portfolio, and has expanded to India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, United Operating in Arab Emirates and Saudi Arabia. ,

Isaac said the tech sector and the internet economy, which is seeing massive layoffs, are likely to experience pain for the next two quarters, but he allayed concerns by saying that the IT industry employs 5 million people directly. Employs directly and another 5 million indirectly. “So, all the noise you hear about change in the IT industry is much more than the jobs that exist in the IT industry. We should look at the economic landscape rather than IT alone.

He elaborated that BFSI and manufacturing saw the biggest job growth among the segments tracked by Quess’ own database. More and more hiring is happening in the core sector, which is a good sign for India. However, technology itself will impact employment in India through greater connectivity, digitization and 5G services, which will enable more of the workforce, especially women, to work from home and boost the economy.”

Isaac also spoke about the much-discussed issue of moonlighting, saying that employers are winning the issue but only in a limited way, but only till the rules and framework are in place. “People’s desire to do more, work more and earn more cannot be suppressed. Therefore, companies are tempted to absorb it without finding out that their own IP is being compromised or security is being breached. Have to find a way to. Moonlighting isn’t going away, but the systems to manage it will get better and faster.

Monster, which serves over 70 million job seekers and 10,000 customers across 18 countries, said it is rebranding itself to talent management platform Foundit, especially as the pandemic has changed the talent and hiring process . The company plans to use artificial intelligence (AI), data and analytics to personalize offerings such as mock interviews, learning resources and more mock interviews, prep materials, etc.

“The platform of the future needs to meet the changing expectations from a highly dynamic job market, skill-based recruiting and careers. We are excited to unveil a new direction for Monster that will only facilitate job and candidate search. To create better talent management is to enable results.”

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