The Covid-19 pandemic has turned a lot of what we know to be the norm upside down. For a number of industries from IT to fintech, the need to digitise and make their portals more work from home-friendly has skewed power away from the employers to prospective employees.
According to a report by The Economic Times, the shortage in supply (and surge in demand) for modern technologists is seeing 55-57 per cent of prospects turning down a deal from one company while also taking up another elsewhere. This figure stood at 10-12 per cent before the pandemic.
Citing information from staffing company Xpheno, the report added that the proportion of deal failures is highest among front-end and full-stack developers.
Many of these modern and niche technologists are also lapping up offers from US and Europe-based firms which are willing to pay the prospects the same income they may have earned abroad. Startups are enticing prospects with bikes and Apple devices.
"They have the power to work out; request the very best as well as obtain the very best,” Razorpay President Harshil Mathur told the publication.
At 50 per cent, IT solutions firms are suffering the highest deal proportion failure, the story stated.