Sep 03, 2015
The overall job market in India looks optimistic in 2015 with companies gearing up for large-scale recruitments
The job race has begun. Organisations are busy streamlining their hiring strategies and job seekers are anxious about what’s in store for them in 2015.The good news is – there’s good news for everyone! The overall job market in India looks optimistic in 2015 as the hiring mode is on and organisations are all set for aggressive recruitments. With India Inc. planning to create nearly 10 lakh new jobs and dish out performance linked pay hikes up to 40% in 2015, the job market platter certainly has a lot to offer this year. With an improving economy, initiatives such as 'Make in India', and plans to create 100 smart cities are likely to further stimulate job growth. The Indian job scenario is slated to witness more stability, especially in sectors such as manufacturing and automation.
Increasing emphasis on social professional networks
Social professional networks have developed over the last four years and are now the number one source of quality hires for Indian staffing firms. Social networking has evolved to become a vital source for quality placements in the country, followed by job boards. Referral programs are also reappearing in the hiring market. Online professional networks are the most preferred channels today for promoting a firm’s brand. Indian staffing leaders are of the opinion that brand is a priority as organisations can surge ahead by having a proactive brand strategy in place and measuring its success using qualified metrics. Leveraging social networking and social media more effectively will be vital to stay ahead, for both organisations and job seekers.
Calculated increase in placement budgets
A whopping 81% of Indian staffing leaders plan on increasing their placement budgets. This is good news for HR recruiters and job seekers as the gap between hiring volumes and recruitment budgets is gradually narrowing. Additionally, the most significant metric for Indian staffing firms is the number of placements, followed by client satisfaction, quality of placements, and pipeline of qualified candidates.
Large number of passive recruitments
A majority of staffing firms are recruiting passive candidates, with India at a global average of 87%. The recruitment of passive candidates is a trend that will not be fading out any time soon and organisations are looking at improving methods to source passive candidates.
Passive candidates are those who:
a) Reach out to personal networks
b) Are open to talking to a recruiter
c) Are completely satisfied and
d) Don’t want to move.
On the other hand active candidates are those:
a) Actively looking for a job
b) Casually looking to work a few times per week.
While the hiring momentum continues to scale up, job seekers and recruiters alike can make the most of available opportunities. Tapping the right channels will be crucial this year. Indian masses are also looking forward to the upcoming Union Budget 2015 and all that it has to offer in the employment generation category. The government has myriad plans to open up job opportunities, including promoting digital entrepreneurship and creating career opportunities in this sector.2015 is the year that has set expectations high and many will be seen taking the plunge in the job arena."