The HR industry in India will follow the trends in human capital management in organizations. Although organizations will be willing to spend in recruiting, learning & development and performance management in the coming months, they’ll be seeking to invest in intelligent talent management. Given the current talent market conditions, employers understandably will be looking closely at workforce analytics and ways to implement ongoing talent management systems in their organizations.
Indian HR organizations are diverse in their maturity. While many organizations lag behind the curve, there are several organizations who are pioneers and early adopters of new concepts and paradigms. Traditionally, HR organizations in India have adopted a quantity-based approach towards HR services. This approach is now proving to be ineffective and there is a visible shift towards quality. Several organizations are looking to invest in services, which enable them to achieve targeted results. The need for proactive employer branding is very important in the Indian market and many organizations are doing pioneering work in this field.
LinkedIn’s India Recruiting Trends Survey 2013 reveals that the use of social professional networks will increase in importance in the future to impact the quality of hire. A reputed IT organization, for example, mentioned recently that 98 per cent of its key hires were recruited through social professional networks. Such a radical change in the approach enables the organization to achieve sizeable cost savings and time efficiencies.
The HR industry in India is growing and the market will be driven by three key trends. First of all, organizations will be looking to improve their employer brand in the market. LinkedIn’s survey shows that 84 per cent recruiters in India across industries believe that it will become a source of competitive advantage for them. Secondly, the importance of making data-driven decisions will increase. Most organizations will be looking to embed intelligence in their human capital decisions through the use of better data capture and analysis mechanisms. Thirdly, the nature of how services are delivered to organizations will change. Service organizations have to rework their delivery mechanisms to become talent advisors to the business. The SME space will be key to growth for HR services in the coming times. As technology and services become more accessible, they will contribute towards creating a level-playing field across the industry where small firms are competing with big firms for talent.
‘According to a survey by professional services network PwC commissioned by LinkedIn, if talent and opportunities were better matched, as much as INR 508bn in India could be unlocked in increased productivity. Technology will play an important role in helping HR leaders leverage this opportunity.’
As told to People Matters