Decoding Hiring Trends in India: Aon Hewitt Hiring Study
Talent Selection
More than 60% organizations rely on perception-based measures (e.g. manager feedback, 180-day performance) to track effectiveness of selection process
Employer Branding
More than 60% are going to increase hiring budgets for employer branding
At present, functional interviews and background checks are most prevalent across levels, whereas more than 50% of organizations use aptitude and skill-based assessments for entry level hiring. More than 55% of organizations assess for competency and culture fitment for mid and senior level hiring. Further, more than 60% of organizations rely on perception-based measures (e.g. manager feedback, 180-day per formance) to track effectiveness of the selection process. Organizations increasingly feel the need to buffer aptitude tests with competency and culture fitment assessments to select suitable candidates who are a good fit for the role at hand.
One of the leading firms in the technology industry believes in deploying multiple selection rounds that assess candidates on key functional skills and leadership behaviors. This organization also suggests that technical assessments are needed at junior levels and psychometric assessments at senior levels. These identify the competence of candidates and predict their value-add to the organization's culture. To improve this process, competency-based interviews conducted by trained hiring managers can be added to the mix.
While there is a visible gap in the availability of support for talent development, this is the next step for the industry. Overall, employer attitudes and employment tactics are shifting form as skill and knowledge of potential employees find further definition. As the war for talent continues to heat up, 2015 promises to bring transformations in the way India Inc. stabilizes the attraction and selection of key talent and how businesses partner with talent acquisition leaders to attract key talent.
Hiring Outlook for 2015
This year promises an increase in hiring with a focus on filling gaps in existing recruitment practices.
The second quarter of the year will soon come to an end, but not before setting the scene for hiring trends in the coming months. So what can we expect to see in the world of talent acquisition? If we begin with the bigger picture, the overall trend is largely optimistic. Most organizations about 70% are gung-ho about hiring. Stable political and macroeconomic conditions are helping fuel this sentiment. More than 70% of open positions will be filled at entry levels. This is essentially good news. It means that new jobs are being created, plus organizations are opening up to diverse skill requirements. 66% of open positions have been marked out for growth hiring. Unfortunately, the mid and senior levels won't get to see much fresh blood, with less than 40% of open positions available.
But not every organization is going all out. Almost 51% of companies are only somewhat increasing hiring in 2015. Nevertheless, with the overall hiring graph moving up, attracting and retaining talent is going to get a lot of attention. Filling in gaps in current recruitment seems to be the obvious first step. A majority of CEOs now recognize that people issues are the biggest hurdle in an organization's path to success. It's no surprise that pulling in the right talent, at the right time, is emerging as one of the top 5 challenges in Indian organizations. There is a strong desire to hire. But how is India Inc. planning to entice meatier talent? Recruitment teams are increasingly being roped in to function as hiring lifelines. But there is a roadmap! First up, expect to see organizations exploring a mix of sourcing channels. Currently, online job portals are still considered the most effective for frontline, junior and mid level hiring, whereas recruitment firms help fill in senior positions. As of now, less than 15%
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