Continuing from where we left off in Article – The Next Frontiers in Recruitment Technology, there are a myriad forces that are shaping acquisition technology around the globe today. Every facet of the talent landscape is being impacted by technology tools- from talent acquisition to talent management. More now than ever because, if you look at the numbers, more than 20 percent of all workers change jobs every year, so looking for talent is almost a perennial activity for most organizations.
Gone are the days when hiring people meant taking out adverts in the newspapers and hoping for a good response.
For the last 10-15 years, certain technology-dependent recruitment practices that have been around but the recruitment-process environment hasn’t really changed all that much. Video-interviewing, satellite conference calls, social and business networking portals etc.
India’s workforce ethics, especially those revolving around the average length of an employee’s tenure have gone through a tumultuous change. About 30 years ago, it was common practice to be in the employ of a single organization for more than 15 years or even retire from it. Changing multiple employers was practically unheard of.
We as a generation of citizens of India have been really lucky. We saw the transformation of India from being a closed economy to the fastest growing one, from a manual job intensive market to the technology hub of the world and from being a dot in the global business world to the nation with the largest human potential.
Companies lose an average of 5% of revenue annually due to payroll process inefficiencies, errors and fraud. Out of this 5%, 99% of the errors are due to poor employee workforce administration.
Despite being an important aspect of a company’s payroll, workforce administration does not get the kind of attention it should.
As winter creeps in, India’s frosty job market, among the worst in the country’s history, finally seems to be warming up. Campus placements signal green shoots.
The turning tide is discernible on multiple counts: quantum of job offers, salary levels, diversity of recruiters, continental spread and the number of pre-placement offers (PPOs).
The Past decade can undisputedly be termed as the most defining decade in India for the Human Resources. Be it adoption of mature HR transformation practices or going digital, HR and HR Tech have come a long way. And for the first time since the inception of HR and HR Tech, the pace of growth and innovation in this field has been as fast as the global market.
For some it lasts for 45 minutes. Some are at it for an hour and few even do it for two. And for a few ‘lucky’ ones it’s a quickie – under 30 minutes. But only a 10 per cent say they are fully satisfied – with their commute. Our daily commute to work is almost an inevitability – much like Monday blues and Friday feeling.