Understanding the Paradox of Employer–Employee Relationship Using Text Analytics
摘要
Indian companies have recently paid exorbitant salaries to acquire and retain the country’s top digital professionals. However, when Russia invaded Ukraine in February 2022, the scenario changed. The global economy’s impact of geopolitical uncertainty, as well as poor markets, high inflation, and the fear of a long-term global recession, has tempered the fresh zeal in startup land in India and elsewhere. The paradigm has evolved from “growth at any cost” to “profit at any cost” for both large and small firms, as investors’ fear of missing out (FOMO) has given way to traditional belt-tightening. The year of “loud” layoffs has arrived, and the devastation is likely to last until 2023. This leads to the employer–employee relationship paradox: despite massive layoffs, hiring is still a concern. An unsupervised statistical method, Topic Modelling, is used to find “themes” that exist inside a collection of documents in order to understand and evaluate hidden trends utilizing annotated data and specified topics. As a result, four topics were generated that give the overall summary of the articles, i.e., “Corporate Reorganization”, “Impact of Macroeconomic Condition on Hiring”, “Unethical Retrenchments”, and “Government Intervention on Industrial Revolution “. There is a path to recovery, but no dates have been specified. However, thousands of employees may lose their jobs in upcoming years, and there might be no quick recovery.