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“Preference For The Young Workforce With 72% Employers Preferring To Hire Candidates In The Age Below 30years And Below” According to the ‘India Skills Report’ 2015

May 18, 2016
“Preference For The Young Workforce With 72% Employers Preferring To Hire Candidates In The Age Below 30years And Below” According to the ‘India Skills Report’ 2015

Mumbai, 10th November 2014: With the PM Modi’s vision on Youth and focus on Skill Development, second India Skills Report 2015 echoes the same sentiment where about 72% employers preferring to hire candidates in the age 30 years and below. This preference for the young workforce is good news wherein 60% of population is going to belong to the working age by 2020. This is one of the major findings of the India Skills Report 2015 launched today in the CII – 6th Global Summit on Skill Development. India Skills Report is a joint initiative by Wheebox, Global Talent Assessment Company, PeopleStrong, India’s leading platform based multi-process HR Outsourcing and Recruitment Company and Linkedin, World’s largest professional network in Collaboration with Confederation of Indian Industry. The report is an effort to form the basis of an effective collaboration between the two ends of the Talent Supply Chain.

The 2nd India Skills Report shows an upward trend in hiring spread across 29 states & 7 UTs. The top states with employable skill pool include Rajasthan, Andhra Pradesh, Haryana, Kerala & Karnataka which have held their positions from last year, and U.P, Tamil Nadu, West Bengal & Orissa are the new entrants. An overall increase of about 23% expected in the hiring numbers per month, the job outlook confirms with the expectation of a growing market in the coming year for India.
Out of about 11 sectors surveyed, Hospitality and travel lead the way followed by BFSI and Core sectors which will see major increase in hiring with more than 25% hiring to be expected and other manufacturing (excluding Auto, Consumer goods & durables,), Pharma& Healthcare and Telecom and allied , there is an increase of more than 10% in monthly hiring.
The report also brings out a general trend amongst the employers while looking for candidate prefer Internal Referrals followed by Job portal and social media. The trend of choosing candidate with the use of social media has increased from 6% last year to 12% this year. One of the notable highlight of the Wheebox-PeopleStrong-Linkedin study has been the challenge of Corporate for maintaining gender diversity. Though the numbers have improved from last year, it is the male employees who still are in majority. In comparison with last year’s report the number of women employees across industries has increased to 38% females last year this number was reported at 34%.
This and many more such insights are part of the first India Skills Report, which is an effort to form the basis of an effective collaboration between the two ends of the Talent Supply Chain. On one hand, it aims to equip the students with information to access the job pool in the market, while on the other, to provide the employers an access to the skill reservoir of the country. The study tries to bring in a more realistic, holistic view of the skill and talent landscape in India.
Assessing over 3,00,000 students amongst 29 states & 7 UT’s across the length and breadth of country using Wheebox Workforce Skills Test, India Skills Report has helped to create an agenda that can function to solve the talent supply-demand challenge the country is facing.
The Report was released by MrSarabanandaSonowal, Minister for Skills, Youth Affairs, Entrepreneurship & Sports, Government of India in the presence of Mr Sunil Arora, Secretary , Department for Skills & Entrepreneurship; MrPramodMahajan, Chairman – CII National Committee on Skill Development; Mr Ajay Shriram – President CII and MrChandrajit Banerjee –Director General CII Mr. Nirmal Singh, Founder and CEO of Wheebox said, “We are delighted to yet again bring the supply and demand sides of talent on the same platform. It was heartening to receive such support from both sides for this study.It also resonates with Wheebox’s vision to bring talent demand and supply together using validated assessments and impact economic development of the country and with recent steps that are being taken by the Government, we are confident that all this information would help in transforming the skill landscape of India.”
He further added, “ This year Wheebox’s partnership with LinkedIn has also helped the reach and build our network immensely. I am confident that the demand for talent will take immense pace in subsequent quarters and employers would benefit from the access of skilled profile on India Skills Report.” MrChandrajit Banerjee, Director General, Confederation of Indian Industry said” With India metamorphosing into one of the fastest growing economies, job creation and skilling seem to be natural tools to ensure sustainable growth. Realising the urgent need to provide accurate analysis, we have partnered with Wheebox, PeopleStrong and LinkedIn to bring out the India Skills Report which is a conscious one of a kind effort to provide an insight into the hiring trends of the market well understanding the needs of the job seeker and organizations. I am confident that this initiative will give a clear understanding and enable bridging of the talent demand and supply in the country.”
NishantRao, Country Manager (India) Linkedin said on their association with India Skills Report , “ The India Skills Report is an extremely important benchmark to help us measure and evaluate progress against this challenge because if we can’t measure it, we can’t fix it! It’s been great to see the momentum building over the last year with positive changes in national skill policy, clearer ownership & accountability for skills development, and the accelerated adoption of digital technology. At LinkedIn, we are always striving to create a more relevant experience for Indian graduates and young professionals to help them be more productive & successful. And given the unique visibility we have into each of their distinct needs, we believe we can make a meaningful difference to helping the ecosystem deliver this impact at scale.”
Mr. PankajBansal, Co founder and CEO of PeopleStrong, said” It is good to see Government, Academia, and Corporation come together for Candidate & Jobs as their focus. We hope that with this new edition of India Skills Report will contribute to the talent matchmaking leading to better skills and jobs”
About Wheebox:
Wheebox is a leading international online talent assessment firm with office locations in 3 countries. It partners leading companies on talent sourcing, assessment and predictive analytics. Our mission is to bring talent demand and supply together to help our clients make smart hiring and bring substantial improvements in their business to build a great firm that is able to attract, develop and retain exceptional people.
Wheebox offers standardized and validated assessments for employability testing and recruitment, talent analytics and talent sourcing solutions to employers that are being used by hundreds of employers in sectors like IT, ITES, BFSI, Telecom, Retail and Manufacturing. Wheebox also works with more than 2,000 institutions across the country for deploying Wheebox “Workforce Skills Test” for final year graduates every year. Wheebox has a range of standardised, adaptive, cognitive, functional and behavioural assessments. Wheebox Workforce Skills Test its flagship solution, is an employability assessment tool that measures language, cognitive, domain and behavioural skills. Employers get predictive analytics on the suitability of a candidate for a given job, improving their hiring efficiency. Candidates get detailed feedback about their skill gaps and employability in different jobs along with India wide rankings and benchmark across top percentiles. Wheebox partners LinkedIn, World’s largest Professional network to bring undergrads and Post grads from Institutions and employers together using Wheebox Workforce Skills Test. Wheebox also partners NSDC to bring sector wise skilled and certified candidates and Employers from Small and Medium Enterprises together using its innovative talent sourcing platform. For more information: Log onto: www.wheebox.com About PeopleStrong:
PeopleStrong is a leading platform based mpHRO (Multi-process HR Outsourcing) and Technology company, headquartered out of Gurgaon in India. It enables Business Leaders and CEO’s in transforming their people agenda. Having implemented some of the largest HR Service Centres in Asia Pacific PeopleStrong delivers employee services across regions and time zones for more than 300,000 employees and have hired more than 40,000 employees through a unique technology interface coupled with high end decision making Tools for people data. It is the first company in the space to be successfully assessed on SSAE16. For more information: Log onto: www.peoplestrong.com/aboutus
About Linkedin : Founded in 2003, LinkedIn connects the world’s professionals to make them more productive and successful. With more than 313 million members worldwide, including executives from every Fortune 500 company, LinkedIn is the world’s largest professional network on the Internet. The company has a diversified business model with revenue coming from Talent Solutions, Marketing Solutions and Premium Subscriptions products. Headquartered in Silicon Valley, LinkedIn has offices across the globe.
For securing a copy of complete report or accessing the pool of talent please visit www.peoplestrong.com , www.wheebox.com or www.IndiaSkillsReport.com

 

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