JhaMobi searched the internet for the Indian job market for freshers and discovered that only 10% of the 1.5 million engineers graduating this year are expected to find work as businesses struggle with the global economic downturn. IT companies reduce fresher hiring by 35-40% compared to the previous fiscal year. IITB began a new round of placements across the country, with an average of 30%-35% of students still to be placed. The hiring pace has been a little slower than last year, but most campuses have reopened counters for new companies looking to hire talent.
Companies today prefer to hire mid-level professionals with seven to twelve years of experience over recent graduates who need at least six months of training. The attrition rate has dropped to an average of 16-18%, reducing the demand for new employees. Instead of hiring, major tech companies have laid off a large number of domestic employees.
This year, only about 45 percent of all engineering graduates meet market criteria, so skill proficiency will be critical. Companies are seeking talent with a blend of technical proficiency in programming languages, software development methodologies, cloud computing, and data analytics, along with soft skills like communication, problem-solving, teamwork, and emotional intelligence, due to the always changing nature of the workforce.
According to JhaMobi, by concentrating on continuous learning and upskilling in fields like data science, AI & machine learning, and cybersecurity, freshers can increase their chances of landing a job.
JhaMobi (An EdTech Startup) solves this problem by providing an online internship program for Higher Education students at an affordable cost. It bridges the skills gap between academics and industry, transforming students into job-ready professionals and increasing employability. This venture has started under the brand name JOIP which is JhaMobi Online Internship Program. It is an ecosystem of Online Internship networks across India.