Amidst the mass layoffs and sparse and competitive hiring, fresh university graduates need clarification about the dependability of their jobs. As the anxiety kicks in, young people have to find ways to cope.

My nosy relative and I are having a mindful conversation / Illustration by Meenakshi B.

I have always been advised to be reasonable, even in fear. People said you have to substantiate it to seem valid. But here, I looked up facts and figures to prove my angst wrong. Unfortunately, the data was also precariously anxiety-inducing. 

According to the data from the layoff monitoring website layoffs.fyi there will be an average of more than 1,600 tech employee downsizing every day in 2023 worldwide, including in India. The number of firing incidents has risen due to the global economic downturn and recession fears. In 2022, 15,433 employees were laid off by over 1000 enterprises.

After one round of discussions on my job between my mother and all my relatives finished, the second round of me questioning the dependability of this job started. That uncle who floods family groups with good morning messages was efficient enough to curate and send all YouTube videos, which cemented my apprehensions. After talking to a few friends about this, my most reasonable friend Roopa offered her TISS, Mumbai gyaan (wisdom), with facts and figures, which helped.

Compared to the July–December 2022 half-year, the intention to hire first-year students has increased by 3% for the current half-year (January–June 2023). Also, there is likely high demand for recent graduates as firms realise that recruiting lateral talent at a premium does not help them maximise their ROI (return on investment). So apparently, my job offer has a minimum guarantee.

Nonetheless, what intrigued me the most was the employers’ intention to mass hire on the one hand and lay off on the other. 

Anita Menon, the placement coordinator of the Madras School of Economics, put things in perspective: “To get a greater return on their investment and ensure long-term sustainability, corporations have shown a desire to hire first-year students and teach them on the job. As a result, even though we have heard a lot of layoff news, 67% of companies say they still want to hire new employees. Hence, recruiting attitudes for new employees remain positive.”

As wise people say, this is a chaotic time to live in. One way or the other, challenges are bound to come. It is hard to start your career in such a hit-and-miss situation, and the possibility of getting laid off will always be there. Our responsibility is to create new opportunities for ourselves under all circumstances while keeping our mental peace in check. If the Covid era gave me anything to hold on to, it is this mantra I keep saying to myself. ‘This too shall pass’.