Recruitment Industry in India
Today the industry is a 6 billion dollar industry. The recruitment market has not only grown but had evolved into a very mature market. Here are certain trends that we see will influence the Recruitment Industry and the demand for niche recruiters.
Between 2016 and 2019, the demand for recruiters grew by 63%. This means that top tier recruiters will now be able to take their pick among the best companies in 2020, making recruitment among the most valuable skills an HR professional could have.
1. Shorter tenures and multiple job opportunities at mid an senior-level have led to an increase in job creation and demand for recruiters.
2. The increase in demand for niche skills and the shortage of talent with skills has given a rise to the need for specialists recruiters.
3. Positions are open longer and the entire hiring process becomes highly time consuming, expensive and frustrating for hiring managers.
4. Corporate hiring managers do not have the time and in-depth sector knowledge to find the right candidates and more crucially, the exceptional talent that a company is looking for may not be looking for new opportunities at the time.
5. Niche recruiters constantly reach out to candidates who are not on a job board or actively looking for a job – in our terms a “Passive Candidate”.
6. With the war-for-talent continuing to be severe for niche skills, HR focus would sharpen on talent engagement and retention. Work-from-home, hiring diversity, longer maternity/paternity leaves, part-time jobs/contract jobs and other employee engagement processes would become the norm of the day.
7. Although our world is becoming increasingly automated, some things still require a personal touch. That’s where recruiters come into the picture.
8. The premium on qualified and skilled talent is set to increase and organizations are competing for acquiring the best Indian talent for their global needs.
9. Traditional Applicant Tracking Systems have evolved into intelligent software providing real-time predictive analytics with the ability to weigh data points and shortlist the best-fit candidates for a position, thus eliminating the element of bias and intuition.
10. Organizations are transitioning from hiring through job-boards to actively hiring through social media. Campus-hiring will be the norm to build talent pipelines in organizations.