Companies Think a Thousand Times Before Adding Employees…
There are many factors that hold companies back from recruiting new employees.
Real estate: High real estate values reduce employment. Employment laws demand at least 120 square feet area per employee. Considering the rental rates in cities and commercial hubs, it is too expensive to accommodate an additional employee.
Interest Rates: High bank interest rates reduce employment. When banks pay 10% interest on a risk-free fixed deposit, why should a company carry on with risky business and earn 7%? Rich companies deposit their money in banks, poor companies avoid taking loans. As long as money is in the bank, there is no investment on the ground - no new projects, no expansion, no initiatives.
Uncertain & Tough markets conditions: Cut throat competition reduces employment. When margins are under pressure, companies push less people to do more work and put recruitment plans on back burner.
Company Overheads: More employees means: more electricity expenses, more travels, more tea, more stationery, more computers etc.
Government Formalities: Statutory regulations reduce employment. Companies are forced to file about 10 to 20 reports/returns for each employee.
No wonder, companies limit their recruitments to essential categories, where they are sure about getting good returns.
At the same time, there is no other go, you must find a job. You studied over fifteen years for finding an employment. You have your educational qualifications. You created a grand resume. With full of confidence, you sent your resume to the company.
Still your resume could be one among the thousands, tens of thousands, or millions – based on the position you applied for. Just think, what is the probability of getting an interview call?
That said, when you get an interview call, can you take it lightly?