Do you realize the importance of recruiting agencies? You are aware of what’s coming but how well are you prepared for it? The future of recruitment beholds some good news and some bad. You have thought of ways to tackle the bad news, but have you thought about on how to engage the good news?
At a contemporary stage of such degree of competition, we have a boatload of competitors falling on the opportunities to reap out the benefits. One could only imagine what it would be a decade later.
India will consist 1/4th of the Global workforce by the year 2022. Also, by the year 2026, 64.8% of India’s working population will fall in the age group of 15-64 years. India will then have the youngest workforce in the world.
But isn’t that a good thing to happen? Yes but, it is presumed that there will be a lack of talent in the midst of the rising population of the workforce. The demand won’t be met completely by the supply. Now imagine having The First Hiring Hunger Games. According to UN, over the next 10 years, India’s workforce is estimated to increase by 120 million which is quite close to the current population of Mexico. Also, millions of laborers migrating from rural to urban areas is bound to provide low-cost labor.
So how is an employer going to increase the scope of its talent hunt in the midst of expanding cities and pandemonium-filled-recruitment activities taking place? Let us assume that not all companies have the sources or employees to get this job done efficiently or effectively. Now who do we turn to?
This industry regardless of the stiff competition it faces from online job boards, social networking sites and companies’ internal recruitment teams, continues to advance. It provides a very crucial means of reaping out the best talent from the vast ocean of workforce.
"16% of the employers still prefer placement consultants as a channel of recruiting the best talent." - India Skill Report
The employers need a complete watch in the job market and the staffing firms provide such services by becoming their eyes and ears out in there. While other sources of recruitment soar through the market, the placement consultants are in the field interacting one-on-one, hunting for the best suitable candidate. With the changing trend and fluctuations, there is a requirement for professionals who are solely focused and specialized in this work. These professionals carry years of experience and market intelligence which is required to get the job done with utmost perfection.
The Annual Talent Shortage Survey, conducted by Manpower Group, mentions that 48% of the Indian employers face difficulty in today’s time in discovering talent, in contrast to a global average of 40%. As the rate of globalization and opportunities popping up rises in different parts of the world, a staggering number of Indians would migrate abroad for work. Assuming these numbers consist of a good figure of employable talents, the shortage keeps accumulating annually. It is therefore possible that in the future - talent could become one of the rarest resources in the planet.
The software could only do so much when you look for sourcing Talent through the cloud. A human on the other hand caters to the need through In-depth screening, Develops interest & handles preliminary objections to prepare the candidates. Placement agencies and Individuals may not to be completely relied upon, but they shouldn’t be completely neglected as well.
So here's why having an expert staffing consultant by your side is critical for your war for Talent: -
Your eyes on the ground: As mentioned earlier, recruiting agencies possess the required Market Intelligence to carry out the work. They are well aware of the coming fluctuations and opportunities and they are well researched and prepared for it. They are proved to be excellent placement advisors in this field.
Value for money: Looking at the amount of financial investments and Employee life time value (LTV), Accurate recruitment is worth a lot of money. You are provided with a quality hire that is Worth the money and goes a long way in performance.
Employer branding: With all the past experiences in the field of recruiting and you age-long relationship with the agency, they assist in Employer branding as well as the first virtual custodians. Candidate outreach, Briefing about the company & role, Developing interest levels, managing expectations and handling objections; the company's image is driven from this experience. Staffing firms act as an extenion of the company with a direct impact of its image and hence prove to be a sustainable solution for the long-term.
Immediate support: With the rising employment turnover and temporary suspension, there is constant needed of a new employee to fill in the gap for a short period of time. At such short notice, the job consultants provide you with quick short term placements. So you wouldn’t have to worry about looking for a new employee to fill in the gap in the midst of a peak time.
Passive candidate pool: The job consultants are very well connected with other employers as well as a pool of pre-qualified talents. They have a pool of candidates ready for disposal when needed and they can get you your desired candidate depending on your specific needs. Their vast networking enables them to pull off such services.
Money is safe: If you aren’t satisfied with the current hire or if the employee ends up leaving in a few months of joining, the placement agencies then guarantee a replacement. You do not need to worry about going through the whole process of sourcing again rather than focusing on other priorities.
Screening & Productivity: The primary benefit of working with an agency or an individual broker consists of not having the need to go through the whole process of end-to-end recruiting. You as an employer could avoid the process of screening. All you have to do is to give your needs to the agency or individual consultant and at the end just select from a shortlisted number of candidates presented by the agency.
Humanisation: Finally, it’s not necessary that the entire talent pool can be found in the cloud, connected to the online job boards. Some have no access to the internet and prefer to access the offline advertisement. This is where the recruiting expert comes in connecting with those potential candidates. They have the grass-root level reach that no other channel of recruiting could possibly offer.
"It's changing out there…just like last time. There's a storm coming, Harry. We all best be ready when she does." - Harry Potter and the Order of the Phoenix
The future scenario of Talent supply somewhat matches the scene of the above quote. An upcoming storm full of opportunities but with a dark hue. Recruiters could hear the storm rumbling on the horizon, the chilling rush of air brushing across the skin. So like the protagonist Harry Potter in the movie, you need people by your side to win this war - Trusted & Specialized. The concept then transitions into Hunger Games when the storm is upon you.
You still need real People by your side - talented, Specialized & trusted. Not just machines! Are you prepared?
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