Recruitment is one of the complicated segments of HR industry. It has multiple fragments offering various professional services as an external entity (HR or recruitment agency) or internal unit (in-house HR department) for business. Today’s market-size, increasing demand for talent, and business complexities have formed several professional services including recruiting as a leading HR department. It drives significant changes in the overall HR industry in India.
While we know HR is a big industry with approximately 20,000 players, it triggers several opportunities and threats. Despite the fact that HR is 20+ years old and such a fragmented industry, it is still far away from being called an established industry. While multiple HR transformations are crusading around, the following points would help you know the best-expected changes in the HR industry:
Adaptability & Budget
Many small recruitment companies operating under a single distribution pattern based on their connections will face the challenge to survive in the future. The primary reasons of this threat are advancements in technology, and on the other hand, the market has started favoring RPO (Recruitment Process Outsourcing) and managed services provided by the available HR facilities. Staffing agencies, which fail to adapt and re-adapt to market offerings will face the consequences to survive. India is a price-concerned country. Recruitment service providers must be aware that the companies are looking out for fresh talent, but they have limited budgets.
Besides the significant growth of many national players, there is also a considerable existence of the major international players. The fresh economic developments will push the alliance in the market. Owing to that, we may experience the arrival of a few more players with evident market shares. The current market conditions also reveal that small players with a restricted product may face some challenges to survive, and may eventually get acquired by bigger organizations.
Fresh Hiring Models
In India, the recruitment industry will see numerous innovative recruiting models. In the coming months, the gamification skills, hiring through referrals and crowdsourcing will progressively be utilized. Until last year, social recruiting was a new phenomenon has now crossed the threshold of conventional hiring practice. The disruptive technology expedites the small and middle level recruiting. Therefore, RPO and in-sourcing will become immense stimulator in the market.
Quality and Timeliness
Recruiting is India is a challenging affair. Organizations have slowly yet consistently started expecting outcome-based delivery rather than traditional procedures. The productivity is about recognizing the suitable profile of preferred jobseekers, some tolerable gaps between delivery and expectation, and the types of qualities to evaluate in an applicant. Therefore, the crux is the importance of timeliness and quality. More companies are looking at the substitutes for hiring, and temp staffs will play a crucial role by coming to the forefront in the coming months.
Recruiting industry has been on a tumultuous journey for the last two years. However, industry leaders hope that the Indian recruiting industry will take a shift to the positive side in the coming years. Innovative companies have already started capitalizing on talent which can assist them to adapt to the modern business requirement and empower them to develop and service new products. Many developing Indian and global recruitment companies are ready to recruit talent for both new businesses and operations.
Organizations are becoming more unprejudiced for hiring. They are growing accepting unbiased recruitment. Earlier companies discriminated candidates based on gender, region, etc. This new phenomenon is called ‘blind hiring’ which focuses on the required skills of the candidates, not where he/she belongs to or what his/her color is. Besides, blind-hiring strategy excludes hiring based on culture-fit and soft skills. The core focus is to recruit candidates with talent and competencies.
In India, the blind-hiring methodology is in its infancy stage, but companies are better utilizing this method to hire entry-level candidates. However, mid to senior level roles need a functional evaluation of culture fit candidates, and they wish for a direct meeting with their probable manager or boss.
What Experts Say about Blind-hiring?
According to TeamLease Services Vice- President, Ajay Shah,
“blind hiring will help in the development of skill-based recruitment, gender equality, workplace diversity, elimination of personal bias and unbiased selection in organizations.”
India is already facing a shortage in employable talent, and the cause may be the conventional methodologies and outlooks. Blind hiring will bring a positive change in different perspective and will escalate the possibility of the talent pool in the country.
According to Anshul Lodha, Michael Page India Director,
“the blind-hiring concept will do well for large business establishments in India and large financial services companies.”
Moreover, this method will work well for any company, which is looking to recruit a large volume of mid-level employees. For instance, in campus recruitments, it is essential to consider the educational backdrop of the candidates rather their social backgrounds.
According to Sunil Goel, GlobalHunt Managing Director,
“this technique has already been in the existence where companies hire contractual staffs to have a skilled workforce for achieving productivity with specific skills.”
The blind-hiring trend will be more evident in new-age organizations and technology targeting those sections, which do not need long-term adherence with the company.
The current scenario of the recruitment industry in India reveals that the following months will be quite confident. Even though there are new market challenges, companies, which can adapt to the new market situations will grow. Businesses have to offer tools, which can help varied industries. They should also understand and take actions for expanding their competency level with the intention to provide a better service to the clients. Reformations to the services offered, technology investments, and discovering fresh opportunities in the market will be crucial to recruitment facilities.