Recruiting companies have emerged as the main channel for hiring across India Inc in 2019
Chennai, 27th February 2020:A recent study by CIEL HR Services titled CIELWorks: Latest Trends in Indian Talent Market 2020 has found that India Inc now relies on recruiting agencies to hire candidates across junior, mid and senior-levels. The study found that while social media platforms and job sites were still relevant at hiring candidates, an increasing number of companies now prefer to go though employment agencies. Currently the biggest challenge that India Inc. faces in talent acquisition is the availability of quality candidates. Job markets remain robust with entry-level roles getting filled within 30 days or less. The CIELWorks Study is an annual industry report that tracks the talent market trends across industry sectors in the country.
According to CIELWorks 2020, during 2019, India Inc saw a gradual change in the talent acquisition strategy and shifts in the talent sourcing mix. The overall push and pull factors that influenced employees to stick on to or change their jobs remained more or less the same. While 2018 saw talent acquisition becoming a board room topic, the trend strengthened in 2019 with over 79% of respondents saying that senior management were concerned about the quality, speed, and cost of hiring new talent. Over 70% of recruiters took steps to deliver a positive favorable candidate experience with a realistic picture of the roles, work environment and expected career growth. More than half of these recruiters focused on sustaining candidate interest till onboarding – a critical part of their acquisition strategy. India Inc remains focused to attract millennials and revamped work environment and policies to make it attractive to the future workforce.
The study showed that talent acquisition channels saw a shift from social media recruiting to India Inc preferring to go through recruiting companies for quality talent to fill junior to mid and senior level positions. Facebook remained a source of candidates for entry level jobs, while Linkedin became a channel to recruit not just senior level candidates but candidates from across levels as well. The availability of jobs were generally robust but securing quality talent remained a challenge during the year. Entry level roles were filled in less than 30 days, mid-level in less than 60 days while senior level jobs roles saw positions fill in more slowly at around 180 days. The study showed that the important factors that attracted candidates and retained them at the junior level were salaries and career development. At the mid-level, the trend was dominated by factors such as designation, job security, salary and development opportunities. At the senior level, the key factors that drove employee hiring and retention were centered on the role within the organization, the variable pay. The financial health of the company, work culture, employer brand and long term vision of the company also played a major role at influencing hiring trends at the senior level. Commenting on the study, Aditya Narayan Mishra of CIEL HR Services said, “CIELWorks 2020 highlights the changing landscape of employer-employee relationships in the country. Nowadays, employer loyalty and benchmarks are getting redefined. Today’s candidates are dynamic and employers have to walk the extra mile to retain good talent in an otherwise quality-starved talent market. Recruiters have to convey the career progression opportunities right from the time they start contacting a potential candidate. India Inc. will retain employees longer if the line managers deliver a growth experience to the members of their team.”