Due to outbreak of ‘COVID-19’, there is lockdown in the entire country. Everyone is talking about slowdown in the economy due to reduction in demand, lower income levels, job cuts & consequently fall in GDP figures. There is lot of uncertainty how businesses can survive. ‘Uncertainty’ refers to situations involving imperfect or unknown information. It applies to predictions of future events which are the unknown. Future may be uncertain, but one should never lose hope, as tomorrow can be the day, you have been waiting for. ‘Hope’ is being able to see that there is light despite all of the darkness, as Stars can’t shine without darkness. Once you choose Hope, everything is possible.
According to recent report by World Bank, Lockdown has impacted nearly 40 million internal migrants. Governments would do well to consider short, medium and long-term interventions to support stranded migrants, remittance infrastructure, loss of subsistence income for families back home, and access to health, housing, education, and jobs for migrant workers in host/transit countries and their families back home.
Considering this much impact on migrated labour, importance of companies dealing in HR management, Job & Recruitment consultancy is going to increase manifold post lockdown. Following areas may be useful for HR & Job consultancy companies.
1. Supply of Unskilled & Semi Skilled labour: Many manufacturing & construction companies’ workers have moved to their home villages & there is lot of uncertainty regarding their return back to work. HR Company can be a bridge to this type of labour requirement/manpower supply in bulk as per industry requirements.
√ You can tie up with Political leaders of small villages across country & along with related industries having requirement for said labour.
√ You can also have arrangements with Government officials, because their agenda as well is to provide employment opportunities for village residents
√ You need to build marketing teams from various villages providing you information regarding no. of workers in their villages, their existing skills & to motivate them to work again. These marketing teams can provide you relevant workers as per requirement of your client industries.
√ Do research from Government records/announcements, how many labour migrated, what skills they possess & which industries are impacted
√ Build databases of employees, marketing teams & Industries/companies
√ Modify your website/apps/marketing campaigns of advertisements accordingly
2. Skilled & Educated Employees (White Collar): Most of companies may be going to cut down salaries of their staff as well as cutting down their staff incentives. These employees would be switching to another companies having different scale of operations, who can afford to pay them similar to existing salaries. Further their old companies would be requiring their replacements. Hence HR Consultants can have double edge benefits.
e.g. Company XYZ Ltd is paying Rs.1,00,000 p.m. salary to their Production Head Mr. Ram (Experience 7 Years) . Company PQR Ltd is paying Rs.70,000 p.m. salary to their Production Head Mr. Sham (Experience 4-5 years). Post lockdown, there can be job lose/salary cut in both companies. Hence you can bridge the Gap by switching employee Mr. Sham of Company PQR Ltd to Company XYZ Ltd at salary of around Rs.70,000 to Rs.80,000. Further similar model can be adopted for switching employee Mr. Ram of Company XYZ Ltd to another company having larger operations, who can afford to pay higher package and also recruiting someone at Company PQR Ltd at lower package.
√ Main task in this work would be to do research & build databases.
√ Read good newspapers, trade journals & government announcements.
√ Think out of the box ideas.
3. International Markets:Don’t restrict yourself to only India. You have access to information relating to impact of Covid-19 across all the countries of the globe. Hence you can set up some platforms (online like your website/app) to bridge employment related requirement as discussed in this article.
4. Tie up with Immigration Companies: Employees, who lose their jobs due to Covid Impact on their employer’s business and not getting suitable jobs in their home countries would be looking for migration to different countries having appropriate requirement. You can help them to provide suitable job opportunities.
5. Free lancers: Most of the companies required skilled persons, but only for limited assignment or for particular season time. Further there being lot of persons offering these types of services on Free-lancing basis. You can be a verified & trusted channelfor this gap.
Kindly focus on each and every aspect of news these days, think out of the box & have patience. COVID-19 can be ‘Reset Button’ for everyone. Thinking of setting up Start-Ups in the area of market research, manpower supply, HR consultancy, data base management, Training & Orientation managers and payroll management can be game changer post lockdown. Best of the luck for your all future endeavors.
Kindly note that above views are personal opinion & actual scenario may be entirely different from whatever is stated above. Kindly do your own research before acting. Author of the article can be reached at email: firstname.lastname@example.org (CA Sagar Gambhir) for queries & recommendations relating to article.
Article Contributed by: CA. Sagar Gambhir, FCA , DISA (ICAI), Ludhiana
Keywords:- Business Ideas, COVID-19, Start Up Ideas, HR Consultancy, Migrated Labour, Employment