Skilling Becomes Employer's Key Priority: LinkedIn Report
Around 93 per cent of the companies in India are looking to fill open roles internally in the post-COVID era, the report said
California-based business and employment-oriented online service LinkedIn on Wednesday launched the first edition of the Future of Talent Report 2021, which looked at the evolving role of HR in India, and how talent is hired, engaged with and developed in the new business environment.
According to the report, upskilling will be core to the talent strategy, and trends such as internal mobility, data-led hiring decisions, and improving employee experience will be in focus for employers in 2021.
In 2020, the rate of attrition increased 1.5 times in India as employees battled long shifts while working remotely. As signals of a second wave accentuate India's remote working needs, the report shows that HR will play an even bigger role in determining the future of talent as 9 in 10 companies agree that HR will now play a key role in helping organizations streamline their business, shape their strategy, and hire more efficiently, even beyond COVID-19.
LinkedIn claims to have the vision to create economic opportunity for every member of the global workforce through the ongoing development of the world's first Economic Graph. LinkedIn has nearly 740 million members and has offices around the globe.
Internal mobility, upskilling, and data-led hiring become workforce priorities in India for 2021
The pandemic has introduced significant internal shifts within companies. This, coupled with India's historically competitive talent market, is fuelling the rise of internal mobility across companies today. According to LinkedIn's Future of Talent report, 93 per cent of the companies in India are looking to fill open roles internally in the post-COVID era.
Diving deeper into the reasons for this surge in internal hiring, the report shows that seven in ten companies in India hire internally to gain an insider's perspective or a sense of progress. The report also states that when hiring internally, the top three skills that companies in India look for are good communication, problem-solving skills, and time management.
To keep pace with today's rapidly digitizing business needs, companies are also keen to upgrade the capabilities of their workforce. Taking cue, 95 per cent of companies in India have dedicated L&D programs to help employees learn new skills and prepare for the future, according to the Future of Talent 2021 report.
While skills take the centre stage, many companies in India are also leaning on data analytics to tap into relevant talent pools when hiring today. LinkedIn's research shows that 91 per cent of the companies in India use data to make informed talent-hiring decisions while 53 per cent of them frequently use data to map skills with open position requirements. To make remote hiring even more efficient, 9 in 10 companies are also merging roles to reduce talent acquisition costs today.
"As remote work continues to disrupt the way we work, HR will play a greater role in helping companies absorb new hiring trends to build the future of talent. In 2021, India will see more companies merge roles, upskill their employees, and hire internally to maximize business growth without expanding operational costs. Data-led hiring practices will also play a critical role in helping companies engage with their employees, attract the right talent, and hire more effectively in 2021. It's evident that companies today are realizing that businesses succeed when their people succeed," remarked Ruchee Anand, director of talent and learning solutions, India, Linkedin.