India Hiring Outlook for 2013 - Bullish or Bearish?
What exactly are HR leaders, practitioners, consultants, service-providers and professionals expecting from hiring 2013?
Moving into a new calendar year, looking back to plan ahead is the norm. India Hiring Outlook 2013 is a People Matters initiative to prepare for future hiring through lessons learnt from the past.
Considering India’s second quarter GDP was at 5.3% as compared to the 6.7% figure a year ago, the economy seems to be showing signs of being weaker, though the hiring scenario bustles with energy nonetheless. While some companies might have cut jobs in 2012 and earlier, most companies are focusing on selective hiring in 2013 to achieve higher productivity and performance. Amid the economic uncertainty and uncertain outlook, companies are cautious about their hiring and do not want to go overboard.
However, surveys conducted by Monster, Firstnaukri, TeamLease et al, definitely suggest that companies will still continue to hire, though probably lower numbers when compared to earlier years.
So what exactly are HR leaders, practitioners, consultants, service-providers and professionals expecting from hiring 2013? Are they bullish or is it now time for bears to roam the hiring streets? Here are some views:
CEO as CTO to now CPMO – The CEO brigade surely added the talent management dimension to their ‘KRAs’ and are often seen engaging with people from every level of the corporate hierarchy. Sanjay Modi of Monster India insists that since people are going to be your differentiators in the sluggish economy, the CEO needs to now don the hat of the CPMO – Chief People Marketing Officer. This role would include sustaining people engagement through branding employee base, measuring how this is moving profitability and hire accordingly.
Method to the Madness – Since there is so much organization coming into play within the entire industrial setup, the hiring sector is also spearheaded in the same direction. Pankaj Bansal of PeopleStrong illustrated one such advancement that is bound to come forth – the Recruitment Shared Services Center. This would be an end-to-end recruitment platform that would differentiate the source and the channels, harness the power of social media in the field, and also bring method to the madness through exhaustive analytics.
Employee: the Brand Ambassador – To have the right person at the right time in the right place at the right cost is easier said than done. Companies are realizing that the branding strategy must now be built around its people strategy. Ramesh Ranjan of Schnieder Electric suggests, “The change would come through hiring the best in class by innovating in hiring methodologies, and this talent will come only if the HR brands its company well”. Extending this further, P Dwarakanath of the Max Group believes that better exit management is required at companies, so that the ex-talent pool also takes pride in having been associated with the brand.
Though there were definitely more take-aways, it is clear that the HR industry stalwarts are throwing caution to the winds and looking at a year of customized and strategic hiring with a clear-cut focus on raising the bottom as well as the top line until cabinet elections of 2014.