Decoding Hiring Trends in India: Aon Hewitt Hiring Study
2015 will be a year of growth, but employers must match the pace
The Shift in India's Recruitment Strategy
The demand for talent is abundant. The supply of diverse talent is available. However, the strategy for assessing and selecting the right person for the right job to optimize results is undergoing a massive transformation.
While India's talent pool has evolved substantially in the recent times, this has not necessarily translated into employable talent. Industry has reached a stage where it has become essential to shift from traditional hiring strategies to more innovative methods backed by fresh measures to track the effectiveness of hiring. The aim, of course, is to leverage prospective talent emerging from diverse backgrounds. With a positive political outlook bringing stability to the economy, industry in India indicates a 70% increase in hiring volume this year. This reveals the potential for new jobs and requirements of diversified skill sets.
Talent Sourcing
Average of four sourcing channels used at every level; with the mix differing across levels
Employing efficient methods to acquire such talent is one of the top five challenges of most organizations today. Adapting to change, business leaders are increasingly engaging with recruitment teams for sourcing, selection, employer branding, onboarding, compensation package design and positioning. Synergy of critical skills and talent supply are key areas where recruitment leaders are helping to fuel businesses. These leaders collaborate with business units to structure hiring teams, identify skill requirements, improve hiring effectiveness and provide robust talent supply. While some large organizations are indulging in specialized teams for campus recruitments, a smaller niche, specifically in the IT industry, is spending on adopting hybrid team structures such as RPO methods. On the employee side, with a social media outbreak, companies are deploying more resources towards employer branding to attract and engage active and passive talent. Employers are scaling up budgets to stand out as employers of choice. Their top priorities for the coming year have been chalked out in four major areas:
1) Social media engagement
2) Online assessments
3) Building the employer brand
4) Technology
More than 60% of organizations plan to increase their budget allocation for employer branding to gain a competitive advantage in the crucial war for talent. To track their return on investment and measure the success of these branding strategies, organizations are relying on outcomes such as candidates applied and candidates hired. A leader in the pharmaceutical industry has been leveraging the brand pull of the organization to drive hiring, maintaining talent supply, and increasing direct applications. This company has expanded its branding at a junior level through campus connect programs and uses social media platforms such as Facebook and Twitter to engage with active and passive talent. On the other hand, a leading FMCG giant believes in leveraging social professional networks and direct mailers to increase outreach and visibility in the talent pool. This company showcases female leaders in the organization via employee testimonials and social ads that help attract female talent. On the employer side, organizations are reconsidering the use of simplistic screening methods. Hiring teams feel the need to deploy multiple assessments at each level, including a mix of aptitude and competency tools to assess candidates on role fitment as well as culture fitment in the organization.
|