12 New Recruitment Trends 2023 in India You Need to Know
Latest recruitment trends 2023 are massively gaining popularity in India. Companies across India have seen 68% growth with remote working. The recruitment statistics online state that more than 95% of the companies plan to recruit shortly by adopting modern recruitment trends in India. The remaining 5% of companies are already done with hiring for the next 12 months for their current projects. Among these numbers, 10% of small-scale businesses are focused on hiring freelancers. After covid-19, the pool of candidates looking for jobs has majorly increased.
The best part is that numerous employees, irrespective of their city, are willing to compensate for the overall damage caused to businesses by being their employees due to the corona pandemic. The negative side is conducting, coordinating, and handling such a vast pool of applicants without the standard human resource tools. According to the ‘thebossmagazine,’ the following data has been revealed through in-depth research.
- Not more than 6% of the companies think that they possess highly skilled digital experts in their existing teams.
- The participants gave themselves a 6.85/10 rating on average for their digital recruitment skills.
- Almost 75% of the human resource professionals said a talent shortage exists. There is the smallest pool of digitally literate people.
- Once the candidate screening process gets automated, human discrimination decreases, candidate ranking & grading improves, the hiring process is 3x faster, and cost per hire is cut by almost 71%.
- Almost 65% of employers feel that automation will significantly benefit screening candidates.
- Without using the latest recruitment trends in 2023, almost 85% of employers are disappointed with their current performance management system.
12 Recruitment Trends 2023 in India
Let’s look at the Latest Recruitment Trends for 2023 and understand what the top recruiters are doing right, which will help you make predictions for the future.
1. Data-Driven Strategy
Recruitment trends 2023 is based on a data-driven strategy. Data is everything; it helps you project the past, present, and future! Employers are continuing to hire new employees based on a data-driven approach. New trends in recruitment show that the primary emphasis lies on ‘Who to Hire’ instead of ‘What to Hire.’ They deeply analyze budgeting, data, and relevant available information to get the best workforce for their company.
Hiring managers ensure that their hiring process and essential facts, data, or reports are in complete alignment for better hiring. Various evidence shows how a data-driven strategy improves 70% to 80% of the hiring process, making it simple and effective. In addition, all the raw data and relevant information keep work from the home trend in synchronization with the changes happening due to the covid-19 pandemic.
2. Increase Workforce Analytics
Recruitment trends 2023 in India allow companies to increase workforce analytics. It will act as a supporting hand for the recruiting managers to develop effective recruitment strategies. Workforce planning is necessary to ensure that companies correctly take a hectic newborn realm, i.e., remote working. Furthermore, the entire interview process gets simplified through this measure from sourcing, accessing, interviewing and onboarding the suitable profiles.
Recent trends in recruitment show that workforce analytics gives better insight to hiring managers. They can easily access the best online portals or platforms to post jobs and the appropriate list of profiles that are best suited for a specific job role. Additionally, all such data becomes handy for further examination once the candidate is onboarding, like employee retention rate, cost per hire, offer acceptance rate, performance reviews, quality of hire, source of employment, and skill gap inspection.
3. Documentation Process
The manual documentation process consumes an enormous time and effort in hiring employers to document everything. StartupHR Toolkit documents are of top-notch quality as highly experienced HR people design them. More than 30,000 HR experts and professionals save their precious time using our toolkit. More than 6000 companies trust us as they have successfully made their documentation process simple. It includes a job description, letters, calculators, policies, Statutory compliance, etc. All the documents provided by StartupHR Toolkit are set according to the Indian government laws and standards. They have created more than 10 lac HR documents to date. In this toolkit, more than 20 safety signages and 25+ Covid-19 documents are also included, apart from basic HR templates. These documents are editable in Google Docs, MS Word, and MS Excel formats. A team of experts also helps you with customized HR templates to meet your unique organizational requirements.
4. Work From Home Opportunity
According to legit online sources, new hiring trends in 2023 show that almost 98% of employees wish to get remote work options even when the covid-19 situation improves. The primary reason is that employees prefer their safety over work. If not full-time, they like getting a job from home at least 2-3 days every week. Therefore, managers need to come forward with innovative strategies and conditions. It ensures that Work From Home trends bring joy and affectability simultaneously to every concerned person. These strategies need to be formed in a way that works for everybody where they are aware of the pros & cons of teleworking. Remote working is the future as it’s the most significant cost-saving alternative for companies.
5. Social Media Recruitment
The latest recruitment trends 2023 view social media hiring as the top hiring method. During and after the covid-19 pandemic, 90% of the population using social media like Linkedin, Facebook, Twitter, Instagram, etc., has shown an increased rate of staying online by almost 2x. Therefore, hiring managers see it as the most significant opportunity for connecting with multiple candidates. Global Recruitment trends have identified Social Media as a powerful medium to attract the right crowd. In addition, it helps in building the brand and the employee value proposition.
Moreover, you can always post about some random fun activities in your company. You can also make it more fascinating by posting employee stories and achievements to boost their morale. Looking into all this, 70% of the right talent will get excited to join your organization.
6. Automation and Artificial Intelligence (AI)
Artificial intelligence and automation are expected to rule the world in 2023 like never before in our tech-driven world! Latest recruitment trends show that our dependency on technology is more than 70% for accomplishing basic tasks like shopping, paying bills, entertainment, etc. So, how come the recruitment industry stays behind in using it? Although various professionals consider the upcoming technology a threat to their job roles, few consider it a blessing.
According to ‘thebossmagazine.com,’ more than 54.7% of hiring managers view it as an opportunity. Such an option allows for recruiting bright talent using innovative hiring tools. Machine learning & chatbots enhance communication by boosting the data processing speed. Nobody can deny that recruitment in the upcoming years will be 80% to 85% based on the latest AI and innovative automated hiring tools. Technology’s power makes recruiters rely mostly on virtual support to ensure a smooth hiring process.
SutraHR makes the entire recruitment process straightforward by recruiting mid to senior-level positions for IT-level and Non-IT-level profiles. All the resumes undergo a deep check, and based on this, we screen out the most eligible candidates list matching your organizational requirements. Furthermore, you also get to see the list of top applicants as we already rank them based on specific job vacancies & candidates’ expertise. The chatbot enhances the recruitment metrics like the cost of hire, quality of hire, time to hire and ensures candidates’ engagement at the same time.
7. Flexible Schedules
The most popular recruitment trend in 2023 is providing employees with flexible working schedules. Employees’ urge to get more flexible hours will continue in 2023. Work from home trend has given birth to increased demand for flexible schedules. While operating from home, committing to a 9 to 5 job gets challenging. Nobody knows the uncertain times that shall come up during covid times while working in a 9 to 5 preset stringent timings schedule. Here, skipping work for one or more hours can lead to a loss of pay for that particular hour and a full-day loss in extreme cases. Working in a flexible work environment helps human resources attend to and cope with such emergencies without losing their salary for that day. Flexibility allows employees to complete their daily tasks at their set timings. Various human resource management reports reveal that companies offering flexible work schedules attract the best talent. It also disclosed that it increases employee retention by 85% and almost doubles productivity.
8. New Recruitment Tools
The latest recruitment tools are shining more than ever in 2023! It streamlines the entire hiring process helping companies onboard the best talent. Such devices are beneficial in making the whole recruitment process simple and fast. According to one of the surveys by Glassdoor, the total time an American recruiter takes to hire an employee is approximately 24 days and $4000. Concerning this, the latest recruitment tools help lower such enormous costs. According to the source, ‘grandviewresearch.com,’ the talent management tools market is expected to grow by 13.5% in the upcoming year, primarily by 2025. It’s because of the latest technology adoption that offers world-class recruitment handling features.
According to one of the legit sources online, ‘northeastern.edu,’ 91% of the companies fail to have robust screening technology. Only 9% have such facilities to ensure the best screening process. Another legit source supporting this statement is ‘kronos.com.’ Recruitment tools comprise various beautiful features that make the overall task simple. It includes employee engagement, onboarding, employee lifecycle, custom hiring workflow, analytics, payroll management, employee file management, etc.
9. Skills-Based Hiring
According to the latest talent acquisition trends in 2023, recruitment managers will focus more on the candidates’ domain-based experience than resumes and talent acquisition-based experience. The Marketing Head & Global Chief People Officer of Tech Mahindra said, “Company’s hiring is 100% based on candidates’ skills on latest technologies like blockchain, artificial intelligence, cybersecurity, etc.
He added that almost 25.5% of women are hired in STEM – (Science, Technology, Engineering, Mathematics) relevant roles. According to Bridgen Tech’s co-founder, Piyush Raj Akhouri, – “Entire recruitment & hiring process speeds up with the candidate showcasing his/her skills in programming assignments & live case studies.”
10. Virtual Recruitment
One of India’s most time-saving and profitable recruitment trends is hiring employees virtually. With the ongoing pandemic, companies are the least focused on creating walk-ins and offline interview drives. Virtual recruitment saves a lot of cost for companies by providing the most efficient ways to screen out candidates’ profiles. More than 65% of the applicants seek hybrid work opportunities to make reasonable monthly incomes. Hiring managers are working smartly with the new hiring trend of remotely taking interviews and onboarding employees.
According to one of the research-based statistics presented by the source ‘careerbuildercommunications,’ 60% of job-seeking applicants drop out between the initial job application form filling due to the complex and time-consuming hiring process. Virtual recruitment makes the entire hiring process quick and straightforward. They can choose the most compelling profiles from a large pool of candidates who can handle multiple tasks simultaneously.
11. Employer Branding
One of the important recruitment trends of 2023 that most companies fail to follow is employer branding. We are well-versed in that any job applicant cross-checks the company’s work culture, reviews, salary package, and other facilities. Any company with a good brand name and reputation will likely get the maximum number of applicants.
According to modern recruitment trends, employers are starting to see how important it is to improve or maintain their brand image. It’s enough evidence to understand that it is essential for employers to showcase their brand image and keep it protected rightfully. It might seem general, but it plays a vital role in the long term. Companies with a lousy market image will likely lose a deserving candidate for a specific job role. Moreover, a reputed company finds collaborating with third parties or other clients easy.
12. Proactive Recruiter
If you’re a hiring manager, building proactive recruitment strategies is vital. According to the latest recruitment trends, the demand for talent is greater than the supply. Recent trends in recruitment show that recruiters have started reaching out to suitable candidates and establishing relationships even before a position becomes available. A proactive recruiter can make the overall experience of a candidate worth the time he spent with your organization. Such recruiters work on finding the right and most suitable candidate before the need is created for a specific position. After finding a pool of candidates, proactive recruiting starts working on grasping the interest, forming healthy relationships, and letting them know about their company, unlike reactive recruitment.
Such a bond improves and controls how a candidate perceives a particular brand. Furthermore, attracting the best talent ahead gets simple by using proactive strategies. The proactive recruiter designs the best system in the industry that primarily focuses on sourcing, engaging, and attracting candidates and keeping them way ahead of hiring needs.
Recruitment managers are advised to stay at the top of the recruitment trends in India to handle critical skill gaps. Revisiting the traditional approaches and finding loopholes there helps them work more innovatively than ever. Following India’s latest hiring & recruitment trends help to understand ongoing challenges, onboard the best talent, and stay ahead of the competition. It also helps job seekers better comprehend the hiring prerequisites and strategies recruitment managers use.
Conclusion
The recruitment trends discussed above save your hiring time, keeping your project cost-effective from a future perspective. The financial year 2020 and 2021 showed us that planning and forecasting are nothing but an illusion! none of the companies can resist it. SutraHR follows these recruitment trends to recruit the best candidate for your organization!
