In the current scenario, the nature of work is rapidly changing. In an economy as vast and varied as India, companies face many challenges in talent acquisition of skilled employees. Most Indian companies these days prefer to entrust the task of talent recruitment in the hands of professional recruitment agencies. Studies show that though social media platforms and numerous job sites are still the key hiring channels, an increasing number of organizations prefer to relieve themselves of this time consuming task. A study by CIEL HR services revealed companies all across are looking to hire right from juniors to mid and several high level staff too from these recruiting agencies.
In the past few years, as the Indian economy had seen a considerable growth, there was a rise in the direct talent demand across the various job sectors. This in turn saw an increase in job opportunities although hiring skilled employees remained a challenge during the period between December 2019 to January 2020. This was the view put forth upon a study covering more than 200 senior to mid level executives across sectors.
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Recruitment and talent acquisition of skilled workers is quite a time consuming process for all major firms. So in order to decrease the amount of effort required to hire candidates, most big organizations are gradually shifting towards recruiting companies with talent acquisition strategies to fulfil their skilled worker needs.
With almost 50% Indian population in the age group between 20 to 25 years, the entry level vacancies are easily filled in a span of less than thirty days, the mid-level roles take about sixty days or so. Hiring managers takes a little longer and the positions are eventually filled in around 180 days.
The key factors that attracted candidates and retained them at the junior level were the remuneration and professional growth. The mid-level trend was dominated by designation, job security and personal growth within the company. At the senior-level, the key factors that drove employee hiring and retention were centered on the role within the organisation and the variable pay. Other major factors that influence senior-level job recruitment include financial health of the company, work culture, employer brand and long term vision of the organization.
India is at a critical juncture in its journey as a nation. The economic growth and the human workforce are presenting an appealing opportunity for us in the future. With the world facing a shortage of talent, corporate India faces the challenge of matching the appropriate talent to the job and has accepted this challenge with open arms.
You might also be interested to read: ‘Talent Acquisition Can Change The Shape Of The Organization’ – S V Nathan, Partner and Chief Talent Officer, Deloitte India
References:
- “India Inc shifting to recruiting firms for talent acquisition” Report | Business Standard | March 1, 2020
- “The evolving world of talent acquisition” | Taggd by People Strong | August 26, 2019
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