Organizations will evaluate recruitment partners based on the robustness of their delivery engine, quality of talent acquisition, customer commitment and how they manage their staff
There is a trend rapidly picking pace in the Indian market, the trend of variabilising talent acquisition. Organizations are keen to change the composition of their core workforce and alter their talent acquisition model to accommodate as much variable manpower as possible. The trend to hire temporary and contractual workforce has arrived in India in a big way. While this model was brought forth and pioneered in India by the retail, manufacturing and customer service industries, most other industries are rapidly picking up this model if it makes more sense for them from an efficiency standpoint. The talent pool retained by organizations in its core roles will undergo a significant shift in its composition. It is a great opportunity for talent acquisition service companies to expand in this variabilised skills space.
Hiring activity will pick up
In terms of generic skills, the Indian market is increasingly showing demand for niche skills, and people with multi-country and multi-client knowledge and experience. Companies are looking for recruitment partners who have a good knowledge of the talent marketplace and can help them make selection decisions faster and more efficiently. The election of the new government has powered expectations in the industry and automatically hiring activity will likely pick up in the coming times. The industry will undoubtedly see a boost in the coming times.
Technology is viewed as an important and necessary channel to speed up the hiring process. The influence of social media is especially remarkable because it opens up the prospect pool by a large margin compared to traditional database-dependent sourcing models. Another key impact of social media is that available skills in the talent market is updated voluntarily by the potential professional and therefore, the entire talent market can now be considered active. Talent acquisition has thus moved from not just looking at an applicant, but also an applicant’s network. The data that an applicant maintains on an online basis speaks volumes of his/her professional network.
Banking, pharma, customer care and retail will be the leaders in hiring this year. Hiring may not be very aggressive in telecom because the industry is undergoing a phase of consolidation. Infrastructure, energy and manufacturing will also see some hectic hiring activity in the coming months. One of the prominent changes in the hiring landscape will be in the IT sector. IT industry went a little slow on fresh talent in the last couple of years due to uncertain global market demands. Analysts predict the IT market in Europe and the US to revive toward the end of the year, and the same trend should automatically reflect in India. IT industry will focus vigorously on reskilling its core workforce into high end skills and supplement commodity / BAU skills from the variabilised talent pool.
Drive and encourage partnerships
An organization has to get several things in place to make the partnership with a talent acquisition service company more effective. The first step in the process is ensuring the right choice of a recruitment partner. A partner’s choice depends on several factors, including core competency, reach in the market, fulfilment efficiency, and fetish for legal compliance. A key to making a partnership effective is ensuring that the organization and the recruitment partner are like-minded and share the same vision. The involvement of an organization’s leadership during recruitment partner selection is, therefore, very important. A strong partnership will also ensure better planning and special focus from both organizations going the extra mile to ensure that candidate onboarding is smooth, beside the fact that the candidate can start providing value from the time they join. In future, recruitment arrangements will work best if partnership behaviour is encouraged.
The talent acquisition market is growing and maturing. Organizations will evaluate recruitment partners based on the robustness of their delivery engine, quality of talent acquisition, customer commitment, and how they manage their staff. At the same time, while candidates will be evaluated by their core competencies, what will be assessed more closely will be their soft skills, mobility, agility, and flexibility to learn new skills in the ever changing business environment.