Emerging trends in Recruitment industry
“Great vision without great people is irrelevant.”
Getting the right person on-board is indispensable for growth of an organization. Staffing industry is getting increasingly dynamic and transactional in recent times for solutions like providing corporate training, pay-roll processing, recruitment process outsourcing.
With Elimination of obsolete laws, regulations and administrative structures, Opening up of new sector like Aviation and retail etc for FDI, The Indian success story has just began.
As the economy will grow, companies will face an increasing challenge of hiring the right talent. Coupled with the shrinking HR budgets the HR managers and business owners will find it more and more difficult to hire the right talent without loosing focus on their core strategic function.
With a huge focus on “Make in India” by our Prime Minister Mr. Modi attracting the right talent and cultivating it becomes imperative for manufacturing companies. As beautifully stated by Ashley Salvador in one of her blog “After all, who needs quality, qualified employees more than industries with complex and technical products”
Business leaders believe that where on one hand they need to focus toward attracting the talent toward the organization as an employer of choice, they also need to stay focused on their core objective of providing their customers and client the best product and services. In recent times we’ve observed that the outsourcing certain monotonous and time can resource consuming transactional HR process are driven by the top management.
Recruitment Process outsourcing (RPO) specialists are increasingly making use of social media and analytics to deliver both efficiency and experience to their clients. RPO companies specialising in certain niche sector like Pharma, Publication and Media, Fashion and apparel have a huge network and deep conncetion with the active and passive job seekers, since they are industry specific, they are in a better position to provide the job seeker a better matchning position based on his/her proirities and on the other hand they help employers hire a candidates whos preferences are in line with them thus creating a better retension and a win win situation to all.
Employee Referrals will grow and companies will rely more and more toward recruiting new hires through employee referrals. This enables companies to hire talent who are better aligned with the on job expectations, it also help company source passive job seekers who otherwise will never be available in the talent pool through the conventional recruiting process.
Data will drive recruitment. Like all other business decision, companies will effectively use data analysis to track the most effective and efficient sourcing and selection methods. With the help of Big Data, it will become possible for the employers to target, may be the right company, a particular location, or an experience level to get the best out of their sourcing efforts. Effective use of data will add another dimension to the recruitment strategy which was previously un know to the HR manager.
Automation of certain recruitment process will increase. With the disruptive technologies like Chatbot (which as per Mya can automate 75% of recruitment processes) Asynchronous Video conferencing, Online assessments, Applicant tracking systems etc. will help the Talent acquisition teams to consolidate and focus on more intelligent tasks.