Corporate Hiring under COVID-19

61 Pages Posted: 11 May 2020 Last revised: 20 Jul 2021

See all articles by Murillo Campello

Murillo Campello

Cornell University - Samuel Curtis Johnson Graduate School of Management; National Bureau of Economic Research (NBER)

Gaurav Kankanhalli

University of Pittsburgh - Katz Graduate School of Business

Pradeep Muthukrishnan

Cornell University, Samuel Curtis Johnson Graduate School of Management, Department of Finance

Multiple version iconThere are 2 versions of this paper

Date Written: May 8, 2020

Abstract

Big data on job vacancy postings reveal multiple dimensions of the impact of Covid-19 on corporate hiring. Firms disproportionately cut hiring for high-skill jobs (within-firm downskilling). Financially-constrained firms scaled back high-skill hiring most, as did firms with workforces more adaptable to "working-from-home." Applying machine learning to job-ad texts, we show that firms have skewed hiring towards operationally-core positions. New positions take longer to fill, displaying greater flexibility regarding schedules, tasks, and requirements. Financing constraints amplify pandemic-induced changes to the nature of positions firms seek to fill, with constrained firms' new hires witnessing larger adjustments to job roles and employment arrangements.

Keywords: Covid-19, Machine learning, Corporate hiring, Human capital, Financing constraints, Work from home

JEL Classification: E24, J23, G31, G38, G39

Suggested Citation

Campello, Murillo and Kankanhalli, Gaurav and Muthukrishnan, Pradeep, Corporate Hiring under COVID-19 (May 8, 2020). Available at SSRN: https://ssrn.com/abstract=3596655 or http://dx.doi.org/10.2139/ssrn.3596655

Murillo Campello

Cornell University - Samuel Curtis Johnson Graduate School of Management ( email )

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369 Sage Hall
Ithaca, NY 14853
United States

HOME PAGE: http://www.johnson.cornell.edu/Faculty-And-Research/Profile.aspx?id=mnc35

National Bureau of Economic Research (NBER) ( email )

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Cambridge, MA 02138

Gaurav Kankanhalli (Contact Author)

University of Pittsburgh - Katz Graduate School of Business ( email )

Pittsburgh, PA 15260
United States

Pradeep Muthukrishnan

Cornell University, Samuel Curtis Johnson Graduate School of Management, Department of Finance ( email )

Ithaca, NY
United States

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