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How will you survive the hiring slow-down of 2024?

G. Shrivastava

February 5, 2024

The job market, once a landscape of boundless opportunities, is now characterized by uncertainty. The IT sector, traditionally a stronghold of employment for engineering graduates, is undergoing a seismic shift, with the sector witnessing its lowest intake of fresh engineers in over two decades. The placement blues are here to stay.

📉 Dwindling Opportunities in the job market

According to a recent article in Economic Times, Indian software companies will hire a mere 70,000 to 80,000 fresh engineers this fiscal year, marking a stark decline from the record 600,000 freshers hired at the peak of the technology services boom in fiscal 2022. The decline is attributed to factors such as reduced demand for digitization post-Covid-19, geopolitical conflicts, and the changing nature of work in the wake of the AI boom, leading to a downsizing of fresher hiring to about 250,000 in fiscal 2023.

💼 The Challenging Road Ahead

Staffing companies estimate that less than 10% of the expected 1.5 million engineering graduates will secure job placements, signaling a challenging environment for young professionals entering the workforce. Key IT players like Infosys and Wipro are expected to skip campus placements for a second consecutive year, while Tata Consultancy Services (TCS) plans to hire fewer freshers and recalibrate lateral hiring.

What does this mean for you, as a job seeker, and how can you protect your future career?

In this era of uncertainty, it has never been more critical for individuals to make data-driven career decisions. The days of relying solely on traditional job search methods are fading, and a new approach is required to navigate the evolving job market. The current job market demands resilience and adaptability. Job seekers should diversify their skillset, stay informed about industry trends, and be open to exploring unconventional career paths.

The Adaptiv 6 month programme is a carefully planned journey that encompasses foundational learning, skill application, profile refinement, and job search readiness:

  1. Personalized Learning Journey: The programme kicks off with a two-month foundational learning phase, where you engage in daily micro-learning courses from the recipe generated for your chosen career path, ensuring a solid understanding of industry-specific skills.
  2. Skill Application and Refinement: Months three and four are dedicated to applying the acquired knowledge through a professional project, coupled with in-depth micro-learning modules focusing on soft skills like communication, creativity, critical thinking, and digital skills.
  3. Profile Enhancement: In the fifth month, you will start working on refining your resumes and cover letters with the help of an expert, ensuring that your professional profiles stand out in the competitive job market.
  4. Job Search Readiness: The sixth and final month is dedicated to interview preparation and comprehensive job search assistance. Users are equipped with the tools and strategies needed to navigate the job market successfully.

One of the most distinctive features of the programme is our unwavering commitment to your success. Backed by our job guarantee, we are confident that the skills, insights, and support provided throughout the programme will lead to tangible career opportunities. If, for any reason, you aren't able to secure a position within your chosen domain, we offer a full refund* – a testament to our confidence in the efficacy of the Premium Plan.

It's time to embrace innovation, stay resilient, and chart a course towards a successful and fulfilling career journey.