Hiring budgets expected to grow in 2017: LinkedIn Survey
The annual India Recruiting Trends survey for 2017, conducted by LinkedIn, highlighted the increasing challenges of recruiting the right talent, and also gave a glimpse into the prerogative of the Indian employers, and how they are dealing with the same. The survey is based on the responses and answers of over 351 HR leaders across the country at the manager level or higher. The following are some of the important findings of the survey:
- 63% of the talent leaders in India are expecting an increase in hiring budgets, which is way higher than the global average of 37%. As compared to other countries, India seems to have an urgent requirement of talent.
- 90% of talent and HR leaders consider talent as the top priority in their company.
- 84% believed that a strong and attractive employer brand has a ‘significant impact’ on their ability to attract and hire quality talent. This figure was at 78% last year.
- Furthermore, for 39% of the talent leaders, their team is essentially responsible for building the employer brand.
- Indian organisations lead their global counterparts in using employee referrals for quality hires. Employee referrals were the highest source for quality hires, at 63%, up from 55% last year.
- On the subject of automation, Indian leaders favour the use of modern technology and tools in the process of recruiting. 38% of the leaders said that sourcing better tools would be an important investment in the future.
- Additionally, 42% of the talent leaders used innovative interviewing tools, and 36% relied in candidate relationship management tools for recruiting. This was higher for Indian leaders, as opposed to the global trend.
- The survey hinted to the increasing role of business development, sales, and engineering to drive effective recruitment strategies and customised employer branding content to attract the right talent.
Irfan Abdulla, LinkedIn India Director Talent Solutions, has been quoted saying,
While 2016 was a year of recruitment consolidation for many employers, 2017 is shaping up to be more optimistic for both employers and employees. Prioritising talent is now key for organisations and talent leaders are increasingly aware of the benefits of investing in employees.”
The survey adds to the ongoing discourse which talks about the need to overhaul the recruitment process in order for it to stay effective. However, one thing is clear, that the Indian corporate community not only prioritizes sourcing quality talent as a top concern, but is also gradually adapting in building a strong employer brand, integrating technology, and being more inclusive of other verticals of the organization in the recruitment process. The fact that Indian talent leaders are outperforming their global competition, in several parts of the study, like referrals or using technology, is encouraging, and also reflective of the many changes that the HR community in India is going through. The future of HR in India promises to be interesting, challenging, and enlightening at the same time, as organizations re-write rules embossed in golden, and go all out to attract the best talent.
But, how does one stay one step ahead of the competition? Irfan sums it up aptly, “... In today’s 'always-on' online culture, organizations that combine traditional recruitment approaches with new social media driven recruitment strategies are going to be able to future-proof their recruitment plans. Additionally, recruiters who implement talent-focused communication strategies and effective talent screening processes are likely to receive higher market value and revenue per employee in the long run.”