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Industry Overview & Policies

To truly influence business decisions, you need to understand where the industry is going. This extract of Linkedin report of 2016 uncovers recruiting trends in India that will move your organization forward, and help position yourself as a strategic business partner. What’s more interesting is a renewed emphasis on relationships, which is a critical factor in talent acquisition. Learn how this theme ties into the top priorities, upcoming challenges and opportunities ahead in 2016 and beyond.

Most Important trends: With growing business optimism in India, business leaders are looking for quality talent to deliver rapid and sustainable growth. It comes as no surprise, that talent leaders use quality of hire tops as the most valuable performance metric. To attract quality hires, organizations are heavily using employee referral programs. Companies are also putting more focus on employer brand, making it a shared responsibility between talent acquisition and cross-functional partners. And since talent leaders want to keep the talent they worked so hard to recruit, employee retention has emerged as a top priority.

NATIONAL EMPLOYMENT POLICY

The multi-pronged policy is expected to outline a comprehensive road map for creation of quality jobs across sectors through economic, social and labour policy interventions. Significantly, it will reportedly also introduce reforms to attract enterprises and help medium and small scale industries, which are major job providers. The move is aimed at addressing the crucial issue of job creation in the country.

The idea is to address the twin issues of providing quality jobs to over 10 million youth being added to the country’s workforce every year and ensuring that more of these are created in the formal sector

FOCUS ON SKILL DEVELOPMENT

At any event organised by NITI Aayog employment was one of the key subjects discussed.

BOOSTING EMPLOYMENT-INTRINSIC SECTORS

In his Independence Day speech Modi had said ``We are nurturing our youngsters to be job creators and not job-seekers. Incentivised medium enterprises and micro, small and medium enterprises (SMEs and MSMEs) to successfully create more jobs
BIGGEST CHALLENGES

BIGGEST CHALLENGES

The gap between hiring volume and budget has significantly widened this past year. While hiring volumes remain stagnant, the budget for recruiting solutions has dropped. This means that talent leaders have to do more with less.
EMPLOYEE REFERRALS ON THE RISE

EMPLOYEE REFERRALS ON THE RISE

Employee referrals re-emerges as the top source of quality hires. Social professional networks continue to stay steady. Not only do talent leaders see employee referrals and social networks as top sources of quality hires, they also see them as long-lasting trends.
EMPLOYEE RETENTION AS A TOP PRIORITY

EMPLOYEE RETENTION AS A TOP PRIORITY

Employee retention is top of mind with talent leaders. However, internal hiring (which helps address employee retention) is significantly lower on the priority scale. Furthermore, less than one-quarter aren’t recruiting internally at all. Leaders who are truly concerned about retention will start to prioritize internal recruiting.