Detail Insights

Shortage of Qualified Talent

Despite India's vast workforce, certain industries and specialized roles face a shortage of qualified talent. An increasing rate of economic growth makes the competition for key talent a challenge for hiring companies. 

As per a study by the National Federation of Independent Business, 87% of HR professionals stated few or no qualified candidates for the positions they were trying to recruit.

Unfortunately, this problem is most likely going to get worse and will be a serious obstacle to the company's growth.

Grab the Attention of an Ideal Candidate

In today's digital age, standing out in the sea of job opportunities is a formidable task. The job market is more saturated than in any recent time which makes it trickier and more challenging to grab the purple squirrel's attention through the noise of all the other 1,000 recruiters who are trying to snatch up the same candidate quicker.

Building an Impressive Employer Brand

Employer brand highly influences the acquisition of new talent in the market. 

As per LinkedIn, 75% of candidates consider an employer’s brand before applying for a job.

A positive employer brand can lead to increased applications from high-quality candidates, while a negative reputation may drive potential talent away.

As per other sources, 9 out of 10 candidates would apply for a job only if it’s from an employer brand that’s actively maintained and 50% of candidates say they wouldn’t work for an organization that does not keep up a good reputation – even if they are getting a hike.

Ensuring a Good Candidate Experience

Candidate experience is more critical than ever before. A positive candidate experience not only reflects well on the organization but also fosters a stronger talent pool.

According to a LinkedIn survey in India, an impressive 78% of candidates believe that their candidate experience is indicative of how the company treats its employees.

Negative experiences can harm a company's employer brand and discourage potential candidates from applying in the future.

Eliminating Bias in Hiring

A study by the Center for Talent Innovation (CTI) revealed that 41% of Indians feel they have experienced bias during the hiring process.

Companies often face the challenge of ensuring fairness and inclusivity in their hiring practices to attract diverse talent.

Ideal Candidates are Entertaining Multiple Offers at Once

With a 4.4% unemployment rate, the market has moved toward a candidate-driven market where candidates either have their pick or are fielding multiple offers simultaneously, making the recruitment landscape more competitive among employers.

Hiring Fast

In India's competitive job market, top talent is often quickly snapped up.

According to Glassdoor, the average interview process in India takes 23.7 days, which means a prolonged hiring process can result in the loss of valuable candidates. 

Hiring for Diversity and Inclusion

Promoting diversity and inclusion in the workforce is an ongoing challenge for larger companies.

Data from the Catalyst Census reveals that women constitute only 30.9% of the total labor force in India.

Larger companies face the responsibility of actively promoting diversity and inclusion in their workforce, which can be a demanding task.

Targeting GenZ and Millennials

As per the latest data from Statista, millennials and GenZ together make up approximately 60% of India's population.

Attracting and retaining these tech-savvy and socially conscious generations poses a unique challenge for companies.

Lack of Coordination Across Departments

Talent acquisition has moved from solely a recruitment team's effort to a multi-department endeavor. Lack of communication between employing managers and the recruitment teams results in increased hiring complexities and ends up recruiting the wrong candidates.

Lack of the Technical Knowledge Needed to Test the Candidate's Skill Set

Sometimes, not having adequate knowledge about the skills a recruiter is hiring becomes a challenge to test and interview candidates to determine if they are a perfect fit for the organization or not.

How to Overcome These Recruitment Challenges?

Overcoming recruitment challenges is of utmost importance for companies seeking to secure top talent in a fiercely competitive job market.

To effectively target the dynamic GenZ and Millennials, companies must adopt a candidate-centric approach, emphasizing purpose-driven work opportunities and work-life balance to resonate with the values and aspirations of these emerging generations.

Fostering diversity and inclusion demands proactive strategies, such as implementing unbiased evaluation criteria and cultivating an inclusive company culture. Building a diverse workforce not only promotes fairness and equity but also drives innovation and creativity, enhancing the overall organizational performance.

In the quest for agility and efficiency, companies must optimize their hiring processes by streamlining internal coordination, leveraging cutting-edge technology, and creatively sourcing talent through various digital platforms to attract candidates more efficiently. However, expediency should not compromise the thorough evaluation and selection process, ensuring the recruitment of the most suitable candidates for the organization.

Recognizing the value of strategic partnerships, companies benefit immensely by collaborating with top recruitment firms. These firms bring valuable industry expertise, expansive networks, and access to a broader talent pool, granting companies a distinct competitive edge. Leveraging their insights and guidance enhances recruitment strategies and facilitates the identification and acquisition of ideal candidates.

By implementing these strategies, companies can attract top talent, build a diverse and talented workforce, and thrive in the highly competitive job market. A well-rounded and proactive approach ensures that companies stay ahead in the recruitment game and remain well-positioned for long-term success.