The recently launched report “State of Talent Acquisition-2019” by Mercer-Mettl reveals that companies in India are expected to increase recruitment budgets 34 percent this year compared to those in 2018.
The report that surveyed 900 decision-makers across the country shared that finding and hiring the best candidates for various roles, especially those that involve in-demand skills, has become a more difficult, expensive and time-consuming process.
Ketan Kapoor, CEO, Mercer-Mettl shares, “While the competition to attract the ‘top’ talent is getting increasingly intense, the only way for companies to ensure their success is through the use of technology to augment these processes. Business leaders need to stay on top of evolving talent acquisition trends and technologies if they are to win the talent war.”
While the report suggests that 76 percent of respondents feel that talent acquisition will be a challenge for companies in 2019, still 86 percent believes that there is an improvement in the talent acquisition process.
When asked about the specific challenges in recruitment, 78% organizations said “attracting quality talent” is one of the biggest challenges for them while 38 percent said “managing hiring drives” is what they struggle with the most.
The challenges are most felt in smaller companies and the situation is better for larger organizations, as 67 percent of respondents from the category said that they face the least resistance in talent acquisition, although the challenge persists in certain aspects of the process.
The respondents also said that technology would be a critical driver for achieving better outcomes as well as for adapting to the rapid changes in the job market and the hiring environment.