Layoffs in 2023 have become common in many industries due to the ongoing global pandemic and its economic impact. The COVID pandemic has caused widespread disruption and economic uncertainty, leading many companies to reduce their workforce to cut costs and remain financially stable.
In addition to the pandemic, other factors contribute to the trend of layoffs in 2023. The rapid pace of technological advancement has led to the automation and digitization of many tasks, making some jobs redundant. This has resulted in companies having to downsize their workforce to remain. These companies are not willingly removing these employees. Their hands are also closed due to market scenarios.Â
On the other hand, people are uncertain about their jobs and lives. One day they wake up and see if they can log in to the systems or if they also became a victim of the layoffs wave. Daily on LinkedIn, they come across many posts that mention “CFBR” and ignore the post but imagine their lives and the struggle they would get in if they don’t get a new job.Â
While working, Vikas came across many real-life problems, and he got inspired to solve one such problem and left the job and started working on making skilled talent affordable for SMBs. It becomes challenging for SMBs to hire such talent as they are short on budget and can’t afford such resources; based on this, he came up with a solution of employees working with two companies on a timesharing basis to make sure the companies get the required skills, and the employees get extra pay compared to a regular salary.Â
While working on this in the medical domain, he realized it’s challenging to get scalability and profitability here, and parallelly COVID started impacting our regular lives. He came across new issues in the IT domain. Companies could not afford their permanent employees and started laying off their employees for cost-cutting, so he came up with the idea of sharing these employees with the companies hiring to avoid layoffs. Using this, they helped a company serving in Aviation Industry save â‚ą3 Crore in the first COVID wave and prevent layoffs of more than 60 employees. Recently in October 2022, a company from Indore was not getting projects, and they were not even able to pay salaries to the employees. Vikas helped them to get their employees hired by some of his clients to avoid layoffs so they could run their business.Â
As the Co-founder and COO at Sharedpro, Vikas offers solutions to help companies avoid layoffs by providing more cost-effective and flexible workforce solutions. Sharedpro’s platform allows companies to access a pool of skilled and full-time contract workers who can be hired from three to 12 months on a particular tenure. This model will enable companies to match their workforce needs with the demands of their business, reducing the need for layoffs in times of slow growth or economic uncertainty. By using a flexible workforce, companies can adjust the size of their workforce based on changing business needs without having to make permanent cuts to their staff. In the current market condition, Vikas knows how difficult it is for SMBs to survive. Currently, they are partnering with 1000+ SMBs in India to help them deploy their internal talent across different clients so they can maintain working capital and don’t have to lay off their employees.
