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Pandemic Outbreak – Why is the Post-Pandemic Market Demand for the Contractual Workers expected to Increase

Somewhere behind the huge retrenchments, and gloomy market downfalls, the pandemic is expected to bring along humongous prospects for contractual workers.

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The COVID-19 pandemic outbreak has heavily bruised the lives of both the employers and the employees. Also, the post-pandemic phase is not at all going to be easy for anyone of us.

Amidst all the grave concerns of unemployment, huge losses, and no job-vacancies, the post-pandemic phase is also expected to bring along an increased market demand for the contractual workers.

Some of the reasons which support the large increase are discussed below.

  1. Economic Downfall

Before anyone could predict the outbreak of such a demon, the economists were all busy praising the increasing Indian economy growth rate. A healthy growth rate of 6-6.5% was predicted for FY’21 before the unfortunate coronavirus toll, which is likely to fall to 5% for the present fiscal year.

The downfall in the economy will affect every job landscape, resulting in expelling out of many employees by the companies, in an attempt to cut down all the extra expenses. But the businesses have to be carried forward, and so, the worker demand would not cease.

How can the companies choose a mid-way between expelling out and recruiting? The answer lies with the contractual workers.

The companies are expected to show a huge interest in hiring contractual workers, freeing themselves from providing fixed monthly wages and perks to the permanent employees. The contractual workers charge only for the work they have done, or the hours they were committed with the employer, saving the employers from investing unnecessary budget.

  • Resolving Huge Work-Burden

The employers’ efforts to limit their workforces will lead to many eliminations and closed vacancies. Owing to this, the remaining employees would get burdened down with immense work pressure. The chances for the employees to lose productivity, creativity, and enthusiasm to work is extremely high in this scenario.

Hiring contractual workers can help in distributing the workload. During the surge project duration, the companies can bring in contractual employees, and lessen the workforces’ burden while restoring their creativity and zeal to work. Again, the increase in market demand for contractual workers is visible after the pandemic period gets over.

  • Inclination Towards Working from Home Culture

The experts are forecasting a heavy inclination towards working from home culture, as the social distancing practice is here to stay for a prolonged period. But what can be done to continue such businesses or processes which demand the physical presence of the employees?

These cases would promote the companies into looking at the contractual employee pool, and filter out some experts who ask only for pay-as-you-go commitment from the employers, as and when the physical presence is demanded in the workplace.

Conclusion:

To conclude, it can be said that the post-pandemic phase will require reframing the business strategies, and work in a direction where the investments are least. All such scenarios would hike up the contractual working landscape, and the future of such workers can be seen shining like the stars.

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