MUMBAI : Job seekers downplay their skills and experience to match the required role, even if it means accepting lower appointments and pay, at a time when the job market is getting tougher. Several executives from recruiting firms say candidates in the junior and mid-range positions in the IT, banking and retail sectors are diluting their resumes and skillset for jobs in manufacturing and related industries.
“Managers are willing to step in as individual contributors and not ask for a team leader position, quoted salaries are equal or even reduced, and even appointments are negotiable,” said Anshuman Das, chief executive officer (CEO) and co-founder of Careernet, a talent solutions provider.
Das notes that it’s especially those in the IT sector that are diluting resumes. “A sector that saw skills inflation, compensation and work done during the hiring frenzy is now experiencing deflation.”
During the frenetic hiring days, a candidate can do so by meeting the minimum requirements for the role. According to recruiters, higher-skilled workers are now ready to work in lower-end jobs, while digital banking is seeing applications from team leaders in technology companies for profiles that require less skills.
“About 20% of candidates who are actively looking for work are diluting their resume. These are junior to mid-level executives who have worked in the IT and BFSI sales profile and insurance sectors,” said Sunil Chemmankotil, CEO of staffing firm TeamLease Digital.
The banking sector, which has experienced a hiring rush during the pandemic, is seeing many experienced employees seek a lower profile. Sales divisions in insurance and banking have seen a sharp decline since an aggressive sales push after lockdown restrictions were lifted sparked a poaching.
Upasana Agarwal, director of national practice at recruitment firm ABC Consultants, said executives with experience in compliance and legal are now only accepting compliance roles. “There is a lack of expertise in compliance roles, and candidates are willing not to demonstrate their experience in other skill sets. And although an individual may transition into a compliance role with a hike, those currently being recruited in digital banking are holding many senior positions in the IT sector,” said Agarwal.
This trend is seen in tier 2 and 3 cities which have seen a 40% cut in hiring mandates.
“An engineer is ready to work as a sales person because there are fewer vacancies, and moving to a bigger metro has no cost advantage. Factories and companies located in these places have also stopped hiring,” said Aditya Narayan Mishra, CEO of CIEL HR Services.
Recruitment executives say this dilution is only seen in profiles of active job seekers who are in the market or need to make a quick jump.
Passive job seekers testing available roles or being courted by recruiters do not make any changes to their profile.
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Updated: Jun 15, 2023, 12:25 PM IST
