Posted in Human Resources Articles, Total Reads: 984
, Published on 24 December 2015
Rightly said, “Employees are a company’s greatest assets”. They have the potential to make or break the company in the long run. It is very essential to hire the proper candidate or the “right fit”, who is conducive to creating a positive work culture and environment in line with the company’s goals and values. Today, hiring is not just about qualifications and skills but about a less tangible factor that makes for people to succeed at workplace and makes the organization as a whole, more productive. This factor may be a combination of various elements such as attitude, personality, emotional quotient, adaptability, confidence, leadership skills etc.
Now, the question is how to find a right fit in an organization with the desirable proportion of all these elements along with the requisite skill-set and qualifications for a particular job as well as how to attract and retain them in the organization in a scenario that is changing so rapidly. Over the past century, we have seen tremendous and rapid changes in the social, economic and technological spheres. This has led to an equally drastic impact on employment needs and processes. In the scenario of changing employment patterns, there have emerged changed trends in the recruitment process. This change is dictated by how the millennials or the gen Y think, behave and respond to various circumstances. Today over 50% of the work force comprise of millennials and it is expected to grow to 75% by the year 2025. This demands a tremendous change in the recruitment strategy on the part of the companies in order for them to remain visible in the job market and attract and retain the best talent. There is a need for looking at recruitment from a “fresh perspective” or from the perspective of gen Y. The millennials are nothing like the traditional workforce. They are individualistic, ambitious, open-minded, success driven and tech-savvy. They have a completely different set of values, understanding and attitude than their predecessors. Thus, being a “recruiter of choice” and attracting young talent has by and large emerged as a big challenge for the employers.
One of the most prominent recruitment trends catching up among the recruiters these days is “campus engagements”. These activities create an impression about the company on the minds of prospective employees and are designed in a way to make them feel excited about the company. Real time contests such as Deloitte’s Maverick, Mahindra’s War Room, Godrej Loud, and HUL’s L.I.M.E etc help the company engage with young people about to enter the workforce. Also, companies gauge candidates’ potential and talent through these contests. Their view point is that selection of candidates needs to be based beyond GDs and interviews. The various campus engagement activities such as leadership talks, live projects and contests, distribution of free goodies, sponsorship of campus activities etc help create “brand awareness” and fulfill their need to be constantly on the minds of the students.
Also, Companies are coming up with innovative ideas to attract youth’s attention and strike their emotional chord. These include social awareness drives, “go green” campaigns, committedness to worthy causes etc. These initiatives help companies to emerge as “responsible brands” that not just care about profits but also have a strong value system. These evolve strong feelings among the youth since they believe in creating a positive impact on the society and, at the same time, a desire to be associated with the brand. Many initiatives are being taken by companies to transform the workplace culture and environment to attract the youth such as providing a greater flexibility, work-life balance, varied and multiple experiences, maternity benefits for women employees, holiday trips, bonuses, creating an ergonomic work environment etc.
The companies make the use of major social media platforms to create a presence among the youth. They have facebook, twitter and linkedin pages where they constantly post on their products, events, achievements, milestones, values, initiatives etc which helps them connect with the youth better and fosters their brand value and image. Now-a-days companies tend to provide an unprecedented level of transparency and clarity about the company’s culture and job expectations mainly through social media which allows candidates to make better decision regarding the choice of jobs. The candidate gets a clear picture about the job and the organization’s culture and he can decide if his aspirations are complemented by what is offered by the company. The trend of posting realistic previews about the job and the experience of working with the organization is called “job previews” which helps attract the right talent and thus less time and resources are spent on the recruitment process. Since gen Y expects an honest, transparent and collaborative culture, this is a great way of building an employer brand as it sends a message about being open and transparent. Platforms such as linkedin, monster.com etc help bridge the gap between employer and employees and have emerged to be one of the most sought out sources for recruiting employees. Also tools such as video interviewing, video resumes, online assessments, mobile recruiting, recruitment process outsourcing etc are gaining ground in the corporate recruitment process.
Another recruitment trend that is picking up rapidly is the use of talent screeners. Talent screeners are situational tests based on experiences that a candidate is likely to encounter during the job. These are a great way for an organization to filter in genuine talent for interview. Apart from talent screeners, today, behavioral profiling and psychometric assessments have become an integral part of every organization’s talent acquisition program because companies now look for measures beyond academic qualifications.
The above trends define the way companies have reacted to the changing dynamics of job market with respect to social, economic and technological evolutions in the recent era. Companies have been trying to harness all possible options and opportunities to thrive as a successful brand in the job market. They are dynamically changing and are persistently coming up with new ideas in order to source the best talent from the job market.
This article has been authored by Swati Suravi from XIMB
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