Retail, banking, IT is India’s key industries and they have grown exponentially as a result of our country’s continual focus on innovation. This has caused positive changes in the Indian economy. There has been a demand for talent in various sectors to deliver sustained and rapid growth. Recruiters face significant challenges in hiring and retaining potential employees. This could be a crucial time for the recruitment industry to grow and advance as quickly as possible. Following are the latest happenings taking place in the industry and some strategic remedies that can be adopted by recruiters to reach greater heights.
Integration of talent analytics and key hiring decisions is becoming a major priority as big data has entered enterprises of all sizes and become the basis of growth and competition. Companies now hire employees particularly for data analytics, talent assessments, and technology. Taking this into consideration, there are a lot of companies who lack the knowledge to effectively crunch data. There is vast majority of companies yet to discover the potential of data as a strategic asset in talent acquisition. Recruiting executives need to educate themselves on best practices, tools, and techniques so that they gain the capability to drive data-based hiring. They must learn the metrics that are really essential. The quality of hires, influence over hires and retention should serve as a great start.
Employees are used as brand ambassadors to carry out the employee referrals process. The size of employee referral process has significantly grown in India, especially in the past couple of years. Cutting down cost and getting access to potential talent that would not be available otherwise while recruiting. A LinkedIn survey concluded that putting faith in such recruitment techniques actually lead to a great outcome globally. If you have still not experimented with this you surely need to get your hands on this technique as it is becoming a key trend in the Indian recruitment business. Although these programs are capable of drastically improving candidate quality, quality of hire and employee retention, recruiters may face challenges in the initial stage. Interact openly with employees regarding what they should expect from your employee referral program.
There is an increased demand for potential talent for many sectors in India. Recruiters are beginning to understand the impact of evenly communicated and well-defined branding. This can lead to attractive and competent candidates. This trend has started to grow as a major priority in the recruitment industry.
The need for the hour demands recruiters to build a cross-functional relationship particularly marketing to create brand awareness and make way through the enormous competition which is only growing by the day. Social media is the biggest advantage to popularize employer branding tools. Using employees as brand ambassadors to display an eminent employer brand is also gaining popularity.
One of the many priorities of the Indian recruiter for the near future is to optimize the quality of hire. Experts believe that quality is the most effective tool to measure performance metric and track down productivity. The quality of hire remains the supreme strategic performance indicator for recruiters. The interviewing capabilities of recruiting managers can be built using these techniques.
HUGE GAP BETWEEN HIRING VOLUME AND BUDGET
This simply indicates that recruiters must do more with less and invest wisely. This finding has made it more difficult for recruiters to overcome the obstacles associated with attracting potential candidates from popular talent sources. The enormous gap between volume and budget draws a conclusion that recruiters need to adopt creative and cost-effective measures to fulfill their goals. Some of the trends are good evidence that focusing on less costly channels can be more beneficial for the present as well as the long run success of the company.
Previously where the candidate’s resume was the only way to gauge his qualification and potential, currently the recruitment market has a different face altogether. The internet and social media have made it easier to find, pitch, and hire candidates that best suit the desired work profile. More and more companies are trying their hands on this method to seek best talents available for hiring.
WORK FROM HOME
Research suggests that people who are given the flexibility to work from the comfort of their house are more productive in comparison to regular office going employees. Work from home is a more convenient option as it not just saves your travel expenses and time but also allows you to be more liberal. Some big companies have started offering this service to their employees as it is a great tool to keep them connected, engaged and most importantly retain them for the future.
For many, the full time working environment does not seem appealing at all. Such people are more likely to enjoy their own space and work as per their own convenience and comfort level. Initially, it used to be very challenging for such people to cope with the full time working concept. However, with the emergence of freelancing, they have breathed a sigh of relief. Freelancing is also beneficial to short tempered employees who often lose their cool and get into small tussles with their colleagues. Moreover, it will allow you to work from anywhere, anyplace and anytime which is what most people wish for.
Based on the current trends and the way they are being successfully adopted and implemented makes us believe that the recruitment industry will flourish immensely in the years to come. All of these research-driven and calculated strategies will result into a greater number of opportunities thereby benefitting all the parties involved in the recruitment process i.e. the job seeker, the employer and the recruiter.