8 impacts of the COVID-19 on your career change in Japan
Dramatic change in the job market.
The global coronavirus pandemic has led to multiple questions regarding the future of employment of thousands, if not millions of people in Japan.
So, what impacts are the new coronavirus having on the job market as well as your hiring chances?
8 impacts of the COVID-19 on your career change.
① Decline in selection ratio: The selection ratio has declined continuously since December 2019 to its lowest rate at 1.39 in March, making the job market more competitive for new job hunters which includes many foreign nationals.
② Decline in job listings: The number of job openings also fell off as a result of the economic downturn that leads companies to hold off on new hiring activities to reduce staffing costs. Foreign new graduates are also likely to be put in a tougher competition with native Japanese graduates.
③ Increase in redundancies and restructuring: The number of fully unemployed as of March 2020 was approximately 1.76 million, not to mention a far more higher number of employees who were requested to take a temporary leave.
④ Not only small and medium sized enterprises (SMEs) but also leading corporations facing bankruptcy, particularly those in travel and tourism industries. Corporate bankruptcy is not limited to small and medium-sized enterprises. Even large companies can quickly find themselves in a situation where they are unable to continue their business such as First Cabin and WBF Group.
⑤ Other industries are in high demand of workforce: In contrast, several industries are also in higher demand for workers such as health care and delivery workers.
⑥ Online job interviews: Face-to-face interviews are moved to online interviews to prevent human transmission. Although online interviews have many advantages such as: easy to adjust schedules, more relaxed conversations and commute time-saving; some certain disadvantages can not be overlooked.
⑦ Fewer job openings for young and inexperienced job seekers: Companies will have to cut staffing costs as they will no longer have the capacity to train newbies. Therefore, high skill and hands-on experience will make you one more step closer to success.
⑧ Economic crisis on a global scale: Industries that rely on foreign countries, trading, for example, are highly likely to suffer.
So, what is your chance and what should you do?
If you are considering whether switching job during this sensitive time is good for you, go to our article HERE: 3 tips for a successful career change in Japan amid the coronavirus
Source: Career theory