How Recruitment Dynamics Will Change in Fast Growing Economy Like India
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While layoffs in the IT industry are making headlines, economists have predicted that the Indian job market will overcome the gloom in the next two quarters, despite patches of depression in IT, start-ups, telecom and BPO sectors.
Recruitments will start on a positive note, but disruption by automation will slow down entry and middle-level hiring. Senior-level and CXO recruitment will continue to grow.
It is expected to become difficult for Indian recruitment teams to overcome obstacles and connect top-skilled candidates with high-demand talent pools.
Entrepreneur India got in touch with Priyanshu Singh, Country Manager and Managing Director, Adecco Group India, to understand the dynamics of recruitment with respect to the changed market scenario and the economic reality in India.
Difficult to Attract and Retain Top Talents
“With an increasing demand for skilled manpower, Indian recruiters will face a challenge in attracting and retaining top talent. That said, organizations with a strong brand, user friendly website, engaging social/ professional networks and innovative digital tools can generate the requisite awareness and excitement among prospective candidates and guide them to get desired jobs,” added Singh.
Think Different and Follow Emerging Trends
India is one of the fastest growing economies in the world, said Singh and added, “The country is witnessing an increased demand for new jobs as a consequence of the growth. To stay ahead in the game, recruiters need to change the way they scout for talents — think unique and follow emerging trends.”
“Focus on interactive interviews with candidates that help in understanding their strengths. Organizations across sectors evolve. Expectations from candidates also change, a higher benchmark is set. Recruiters should be mindful of this while on their talent hunt mission. Shortage of requisite skills is an increasing concern and a major threat to productivity of businesses — making the selection of the right talent even more critical,” he added.
Recruitment Landscape Has Changed Dramatically
“The recruitment landscape has changed dramatically in this increasingly competitive and mobile global business environment. It is no secret that there is a dearth of good/ skilled candidates in the market with the demand far outstripping supply in several industries. This is making the job of recruiters difficult and crucial at the same time. It is important for companies to place their trust in players who can deliver under all circumstances even if at a higher price,” Singh added.
‘Quality of Hire’ the Key Performance Indicator
“Quality is the cornerstone on which business reputations are built,” asserted Singh, adding, “Manpower is the most important contributor towards any sort of output of any business entity, which makes the job of recruiters critical towards achieving the objectives of any organisation. Urgency to fill roles at the lowest possible cost creates a situation that has a negative impact on the product and services in the long term.”
“Often, it is too long before an entity realises this. Companies should effectively and continuously measure the quality of their hires with productivity evaluation, feedback from hiring managers, employee retention. Employee referral programmes should also be encouraged as they are a key source of quality hires.”
‘Employer Branding’ Crucial for Hiring
Singh strongly vouched for employer branding, calling it an important criterion that all candidates consider as they make their decisions. “As the market gets more competitive in trying to attract the best talent from a relatively small pool, it is imperative that the employers send out the right messages to their prospective employees. This cannot be achieved overnight, and takes a sustained effort from all existing employees to create. For this, of course, the right sort of environment needs to be created at the workplace. However, if managed well, it creates many brand ambassadors for the organisation and makes it easy for them to attract the best people to their fold,” he suggested.