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Are temporary jobs on the rise?

With the widespread of coronavirus, there seems a lot of disruption in the software industry. Post lockdown, more companies are looking to hire people for temporary positions. Are temporary jobs on the rise?

Most of the companies including small and medium-sized firms are looking to hire temporary employees. This is to handle the costs. The demand for temporary jobs has increased by three-four percent. HR consultants expect this trend to continue for 12-18 more months. Companies will hire for temporary positions.

At any other time, these companies might lookout to hire employees for permanent positions. But now, in 2020, the companies can afford only can afford to hire temp employees.

Are temporary jobs on the rise?

Which jobs might see an increase?

The demand for job positions like CRM, Data mining, artificial intelligence, remote cyber management has increased since past few months. Especially for filling the temporary job positions. Most of the companies are looking to hire on project basis. This is the only option affordable by the companies if they are to hire new talent

More articles: Increase in expenses during WFH: TCS

Also hiring for temporary positions will not cost much in the longer term which lets the core teams of the company focus on product development instead of budgeting the costs.

The companies looking to hire on a temporary basis are relying on temporary hiring agencies. With the help of these hiring agencies, companies are able to support their upcoming projects, meet seasonal requirements, and are able to reduce the workforce during the slow phases accordingly. This all made temporary jobs rise in demand.

The regional director at Michael Page, Anshul Lodha said that there is a clear growth in contractual hiring. Especially sectors like IT, Legal, Finance. They are hiring temporary employees for a period of 6-12 months. Small-sized and medium-sized firms follow this trend. The large-scale firms cannot work with temporary hires.

For the last few months, most of the company’s clients are instructing them to hire a temporary CTO and also a temporary legal team for 6-12 months, Mr. Anshul Lodha added.

The companies are also planning to hire temporary medical professionals to provide psychological support to their employees. Especially sectors like banking, financial services, IT, and back-end operations are especially looking out to hire the medical team.

Was it observed before?

This trend was observed back in 2008-09 period. But for the bottom end of the work pyramid. Now, the companies are looking to add more towards the senior members in the firms.

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