Economy
Candidates dilute resumes as job market tightens
Summary
Candidates in the junior and middle order in IT, banking, and retail sectors are diluting their resumes and skill sets for jobs in manufacturing and allied industries
MUMBAI : Job hunters are playing down their skills and experience to match the required role, even if it means accepting lower designation and pay, at a time the job market is turning tight. Multiple executives from recruitment firms said candidates in the junior and middle order in IT, banking, and retail sectors are diluting their resumes and skill sets for jobs in manufacturing and allied industries.
“Managers are willing to move in as individual contributors and not ask for a team lead position, salaries quoted are at par or even reduced, and even the designations are negotiable," said Anshuman Das, the chief executive officer (CEO) and co-founder of Careernet, a talent solutions provider.
Das noted that it is mainly those in the IT sector who are diluting resumes. “The sector that saw inflation of skill sets, compensation, and work done during the hiring frenzy is now going through deflation."
During the days of frenetic hiring, a candidate could make it by meeting the bare minimum requirement for the role. According to recruiters, workers with higher skills are now ready to work in lower-rung jobs, while digital banking is seeing applications from team leaders in tech firms for profiles that need fewer skills.
“About 20% of candidates who are actively looking for jobs are diluting their resumes. These are junior to middle-level executives who have worked in IT and sales profiles of BFSI and insurance sector," said Sunil Chemmankotil, the CEO of staffing firm TeamLease Digital.
The banking sector, which saw a flurry of hiring during the pandemic, is seeing many experienced employees looking for lower profiles. Sales divisions in insurance and banking had seen severe attrition since an aggressive sales push after lockdown curbs were lifted fuelled poaching.
Upasana Agarwal, national practice director at recruitment firm ABC Consultants, said experienced executives in compliance and legal are now settling for merely compliance roles. “There is a skill-set shortage in compliance roles, and candidates are willing to not show their experience in other skill sets. And although one can move to a compliance role with a hike, those who are now getting recruited in digital banking held many senior roles in the IT sector," Agarwal said.
The trend is pronounced in tier 2 and 3 cities which have seen a 40% cut in hiring mandates.
“An engineer is ready to work as a sales staff because there are fewer vacancies, and moving to larger metros does not have a cost advantage. Factories and companies that are located in these places also have stopped hiring," said Aditya Narayan Mishra, chief executive of CIEL HR Services.
Recruitment executives say this dilution is seen only in profiles of active job seekers who are in the market or need to make a quick jump.
Passive job-seekers who are testing the roles available or getting wooed by recruiters are not making any changes to their profiles.
