Recruitment Market

‘The Indian recruitment and placement industry has been rapidly growing at a astounding pace of 21% Y-O-Y for the past 5 years.’ The sole cause for this speedy increase includes the coming of FDI into basic segments like Retail, Insurance and Aviation. The Indian hiring managers and the corporate houses are also largely dependent on recruitment and placement agencies to source and attract the best talent, especially for niche positions in all sectors. It is advisable and much easier to outsource the mandate to professional executive search consultants like Career Placements India.

It is observed that for the past four years the mindset towards the process of attracting and sourcing manpower is significantly changing. There are numerous of openings in the industry and recruiters believe hiring managers in India can capitalize the full of both active and passive job seekers only by portraying the hiring companies’ best image, and also by making on-boarding a stress-free process for both the prospective candidates as well as the firm.

The significant differentiator’s that make a recruitment stand out from its competition is an engaging and an interactive responsive website of the recruitment/placement agency. The websites template’s look and feel should portray its high level of professionalism. Websites that are exquisite and simple to explore, quick to open commonly pull in more traffic of job seekers, which in the long run implies more business for the organization.

In addition to the points on the website the recruiters of the recruitment agency must possess the under mentioned traits.

•  Personality Traits: Self-motivated and of a patient nature. Must be able to take NO for an answer with initiative and entrepreneurial spirit.
•  Intellectual abilities: Should be a good reader of Body Language, Expert in MS Office and Internet Recruitment Techniques, Should be unbiased while evaluating facts and figures, proactive approach & original thinking, good inductive & deductive reasoning.
•  Should possess the ability to comprehend, convince, influence and work with clients from all industry sectors.
•  High in ethics and personal integrity with a good value system.

The candidate expectations in the current job market are ever increasing. They expect the recruitment agencies fulfilling their requirements of the right job as off yesterday? Recruitment / placement agencies definitely need to exceed the expectations laid out by both the job seekers and the corporates. The key aspects that a job seeker usually expects from a recruitment organization, besides just a job, are provision, supervision, and information which helps them keep alive the hope of achieving their dream profession. We at Career Placements too offer free support, guidance and professional assistance to those who seek our help. It is the trust that career seeking applicants have in us, that helps us shape a strong brand image.

At Career Placements India we have taken major steps to make the recruitment placement experience easier for the candidates and the hiring managers; Firstly, we generate a detailed job description that clearly spells out the job tasks, duties and responsibilities, KRA’s and KPI’s, required skills and preferred skill from the companies stand point. This minimises miscommunication between both the candidate and the company right from inception stage. Besides this we use job postings on various online job portals, we constantly refresh the posting until we close the positions, this ensures that we have a healthy flow of active candidates and also we ensure it from expiring or getting buried under latest job postings from our placement consultants.

The general belief is that recruitment and placement agencies/consultants always play an important role in helping Corporate HR departments fulfill their manpower related targets. The hiring managers avoid sieving through scores of applications to save time and energy. The hiring company would ideally like to interview only a few matching & relevant candidates and close the manpower mandates. This enables them to focus on other important tasks. Recruitment agencies simplify the entire placement process by pre-screening the prospective candidates and filtering them for the company, and they also add value to the candidate by saving him/her from embarrassment of rejection and the trouble of going through the interview process and by saving his/her time. To sum it up recruitment and placement agencies help corporates save time and resources by rendering expert services at very low costs.

The head hunting space continues to metamorphose as companies adopt new recruitment, tools, and methodologies for screening candidates.

1) There are more than 35000 recruitment consultants nationally bringing different implementation ideas on sourcing manpower and fulfilling job vacancies.

2) The recruitment hiring market is estimated to be a staggering 75 thousand crores industry

3) 2% of recruiters use, or are in the process of making social media as a source for searching manpower. This phenomenon has seen steady upward movement for the last 6 years.

4) Recruitment consultants found a 49% enhancement in applicant quality over candidates sourced only through old-fashioned recruiting methods.

5) A study found that 73% of under 35 year of age job seekers got their last offer through a social network.

6) 30% of all searches performed on Google i.e., about 300 million per month, are employment related.

7) LinkedIn contributed to 89% of Social recruitment while Facebook & Twitter were behind at 26% & 15% respectively.

8) Approximately 94% of recruiters use social media for fulfilling their jobs; only 39% of all employers use social media for recruiting and hiring. Over 5.7 billion professionally-oriented searches are performed on the LinkedIn per year since 2012. LinkedIn houses over 2.1 million professional user groups.

9) 51% of workers who currently have a job are either actively looking for, or open to a new job. This means entirely 71% of all workers in the U.S. are “on the job market” (meaning jobless and looking, working and looking, or employed and open).

10) 59% of recruiters rated candidates sourced from public-social links as “utmost quality.” But only 21 percentages of applicants say they found their favourite or best career through a social network.

11) 35% of millennials are positive about the job market, compared with just 11% of boomers.

12) 94% of recruiters are active on LinkedIn, but only 36% of applicants are Career seekers. 43% have used their mobile device to look for a job.

13) 80% of the Fortune 500 companies use psychometric testing to screen job applicants. While only 27% of all hiring in India uses online testing models.

14) Only 26% of recruitment and placement functions use an applicant tracking system to manage their hiring technique.

15) Companies that have an applicant tracking system and can track all their applicant communications, are 40% extra likely to be “best in their class”.

Human resource is the utmost serious and sacred resource of an organization. The cost of a wrong hire is very high. It is mandatory for the organization to get the right resource in the right place. Placement and Recruitment resources solution providers are a team of experts which furnish its clients with candidates solutions like hiring right applicant (short-term and long-term nature) to set right the HR processes at the companies site. Staffing firms works in an highly volatile and dynamic commercial environment today and has witnessed a lot of evolution in the past few years. It has emerged from its role of only “replacing announcements” to becoming “critical companion” for its hiring companies by giving the entire range of employment solutions like business training, pay-roll handling, recruitment process outsourcing, etc.

The executive search industry in India is highly divided and provides services in various verticals such as Finance, Retail, ITES, Pharmaceuticals, Engineering, Information Technology and Top Executive Level. Recent developments on the government policy front like opening up of the economy for sections such as marketing, aviation, etc. for FDI is also an impetus for the business as this will result in the increase in hiring of candidates. Marketing of India as a Make in India by Prime Minister Modi has also attracted large MNCs to set shop in India and take advantage of the growth wave.

Also the industry is categorized by the increasing trend of private equity transactions and a number of mergers and acquirements. Also, a number of institutions have started in full swing subcontracting their recruitment processes to third party recruiters.