Recruitment Trends in India – What Employers and Job Seekers areLooking For

Like any other industry, the recruitment “industry” is cyclical. IT followsthe cycles of other industries to a large extent. But the recruitment industryhas a significant advantage because of the “products” it promotes – skilledmanpower. For any organization, in any kind of economy, skilled manpower isabsolutely essential.

In a booming economy, companies in India were offering high salaries andattractive incentive packages to attract the best talent to their payroll.However, as the economic downturn hit countries around the world, Indiancompanies suffered too. Lay-offs, salary cuts and deferred payments becamecommonplace. A vast pool of skilled, un-employed candidates was created duringthis recession.During this period, hiring was extremely limited and companiescould cherry-pick from the cream of the crop.

Now that the economy, atleast in India, seems to have stabilised and startedclawing back to what is was in 2008, some striking trends are being observed inthe recruitment industry. These trends have their roots in the recession andit’s effects on job seekers and recruiters. Some of the key trends have beendiscussed below.

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Contract Hiring Many companies that cut back to bare bonesstaff during the worst of the recession are now beginning to hire contractworkers. Contract hiring makes sense when the economic situation is stillvolatile and a company does not want to commit its financial resources to afull-time permanent hire. Also, contract employees are usually brought on boardwith the idea of handling one set project or providing a select skill set. Sothe process of hiring a contract employee is usually a little more streamlinedas well.

Just-In-Time Hiring Today, the key focus of talentacquisition teams has changed from hiring generic skilled resources asstrategic buffers to meet future ramp-ups to hiring just-in-time based onbusiness demand. This ensures that lead times are reduced for new employees andcosts are reduced for the company since they are not maintaining a bench.Just-in-time hiring is fast becoming the watch word in many companies and is abeneficial trend that is set to embed itself firmly into the recruitmentindustry.

Consulting / Freelancing Becoming a freelancer requires agreat deal of domain experience, commitment, integrity, flexibility andconfidence. Though the going might be tough initially, returns can be very goodprovided a freelancer is good at the job and enterprising enough. To become andindependent consultant, a person has to have a command over his field ofexperience and a relatively good network in the industry. Freelancing andconsulting may form a small percentage of the recruitments in India, but recent trends showmore professionals inclined towards them

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