India Hiring: Reflections - 2014 & Untangling knotty talent acquisition in 2015
Author:
ResearchFox Consulting
- January 13, 2015
- Category Hiring or Recruitment
- Comments
We have seen extremely positive vibes in 2014 where there are four broad factors contributing significantly to a reinvigorated hiring scenario. These are:
A Stable global economy
Much of the western markets are in a GDP growth mode and business and hiring sentiments are bullish globally. The incremental, but steady, job creation this is resulting in is particularly visible in the IT and Outsourcing sectors that are seen to be getting back to the table with signings in the US, certain countries in Europe and MEA region.
Domestic consumer demand
Normal monsoon and cooling down of oil prices have given a fillip to the already resurgent consumer demand in India. This is combined with previously unseen rates in adoption of mobile-internet and internet commerce. Ecommerce businesses, on an overdrive in acquiring both customers and talent, are expanding the demand envelope for the FMCD and FMCG sectors as well.
Organizational maturity in hiring for skills at scale
An indirect fallout of the consumerization of technology has been the enthusiastic adoption of newer, and more scientific, modes of talent acquisition. Talent engagement tools that include Social recruitment, gamification and crowd sourcing are enabling right-skill acquisition at scale.
Technology services moving up the value chain
Technology firms are aggressively investing in the SMAC [Social-Mobile-Analytics-Cloud] domain and developing new-age solutions that they expect enormous global demand.SMAC is symbolic of a next wave of outsourcing tech firms are hiring superior technological expertise for the common theme that is emerging for the coming half year is globalization and consumer technology. Indian employers are looking at a paradigm shift in the way their businesses are going to be run and the profile of talent they would be acquiring.
We at Han Digital have always understood and appreciated our customers' needs and capabilities in the areas of resource addition and deployment. During 2014, we continued to work towards deepening our engagement and relationship with our valued customers. Our strong customer orientation has helped us to focus on products which will add value in the following areas which matter most:
1. Research inputs for hiring by providing incisive insights on
- Availability of skills by organization & geography
- Compensation levels
- Landscaping of competition for specific skills
2. Manage talent acquisition ability in an elastic and dynamic fashion
3. Manage Costs of hiring
With these key tenets, we have continued to develop and refine our product offerings, which will make your recruiting experience even more convenient, timely and rewarding.
We have introduced a new product "Talent Intelligence Store" which provides skill specific inputs on availability and compensation by location and organization. This product has unique features like organization specific and location specific comparisons for any skill to take effective decisions in talent acquisition and compensation fixing.
We further introduced service offerings that complement our clients' need for support in talent acquisition by moving away from a traditional recruiting agency model. Some key initiatives in these areas have been
Candidate Research
Our sourcing expertise helps organizations scout for talent without investments in job boards, social networks and experienced recruiting headcount.
Generic Skills on Tap (gSOT)
A model to shortlist and offer candidates possessing generic skills with a lead time of 2 - 3 weeks based on skill complexity.
Talent Specific Universe Mapping(tSUM)
Services to identify (predict) indicative candidate numbers by skill who may be interested in a near term career move to a client organization after assessment of skills,experience, compensation match with the client's pay grids and candidate willingness to choose the client as their next employer
Managed Recruitment Services
Services for smaller organizations which do not see a business need to make investments in a full-fledged recruiting function.
Yet another achievement has been the development and going live of Emergingcitiez.com our off the shelf product for talent availability by skill and city to compare talent supply potential of Tier II and lower cities of India. This product gives the user an edge to view and compare potentials of cities in talent supply with a comprehensive view of Company, Colleges & Training institutes. In 2015, we plan to ramp up this offering to more than 100 cities in India and an equal number of leading cities of the world which are turning into investment destinations.
