In fact, shrinking talent pool, increasing skill gap, and soaring customer demand have forced staffing agencies to search for relevant candidates amidst the dwindling supply.
However, with the adoption of new trends like the ones given below, you can adapt to talent shortage and hire efficient and skilled employees.
Let’s dive in and see how these 5 trends are imacting:
Increase in Contingent Workers
The All India Council for Technical Education recently revealed that approximately 60% of 8 lakh graduating engineers stay unemployed.
Contrary to this, 39% of recruiters believe that finding skilled employees is a challenge. It is almost a herculean task to look for the right set of people and help them find work immediately.
This gap in the industry is due to the lack of vocational training which results in candidates not being job-ready.
As a result, the staffing industry in India is moving towards contingent staffing, or people who are employed on a project basis. This helps organizations address the dearth of talent and the skill gap.
Increase in Digital Recruitment
There’s been an increase in digital staffing portals due to a rise in contingent workers or project-based employees.
Due to the rise of the gig economy and the demand for top talent, many digital staffing platforms have emerged to meet the talent demands of businesses and individuals. And by the look of things this route has been cost-effective so far. No wonder why the number of such platforms keeps increasing every year.
While digitalisation of staffing has its benefits, it’s also a threat for traditional staffing agencies.
Traditional staffing agencies in India have to compete with players who already have an online presence. On the flipside, digitalisation accelerates access, reach, and scale and can also lead to mergers and acquisitions.
Rise of Candidate Experience
With all the other employment trends in India taking a front seat, candidate experience is leading this revolution and here’s why we believe this:
According to data released by MRINetwork Recruiter Sentiment Survey in 2015, the recruitment market is driven by the candidate. You don’t choose the talent; the talent selects you!
Can you relate?
The situation is relevant even today. In fact, it has increased. If you wish to hire talented people for your company, you need to offer them benefits. Not in terms of money, but a complete package that includes experience, exposure, training, good work culture, job flexibility, meals, off-site relocation, and more.
Automation of Recruitment Process
Increasingly, a lot of organizations are adopting recruitment tools like ATS (applicant tracking system), HRMS, recruitment marketing software, attendance management tools, etc.
These tools are helpful in prospecting, sourcing, onboarding and managing the right applicants.
Another thing that is in demand is the ability to integrate these different tools and processes to improve collaborative and simple functioning.
Flexible Working Environment
With contingent workers, organizations are also willing to aid their full-time employees. 9-to-5 jobs are now old news. Every enterprise is now considering a flexible environment which aids a healthy work-life balance. This directly improves employee satisfaction, retention and performance.
The complexity of the employment market is increasing as we speak. In a situation like this, trends like flexible working, candidate experience, and recruitment tools are taking the front seat. Moving towards these strategies can empower staffing and adapt to the changing market needs.