Changing Hiring Patterns: Post Recession
(An Employer and Employee's Perspective)

By

Mrs.Meenal Vasal
Faculty
International Business School
Kota
 

Abstract

Hiring Employment has undergone a transformational change post recession. Trends and Issues in recruitment and selection have taken paradigm shift with market gradually recovering from slowdown .The effect of recession has brought new challenges for the companies as well as job aspirants. The phase marked by lay offs and pink slips, now seems to be getting over, opening new opportunities for the job seekers. At the same time, taking advantage of an improving economy, employers are planning to recruit new employees in their organization in near future while maintaining their talent pool.

Key words: Hiring, recession, recruitment, selection, talent.

Introduction

Recruitment, selection theory is based on an organization's accomplishment of hiring valuable employees, constituting a major function of human resource department. Recruitment process involves a systematic procedure from sourcing the candidates to arranging and conducting the interviews and requires many resources and time. The recruitment process is immediately followed by the selection process i.e. the final interviews and the decision making, conveying the decision and the appointment formalities.

Hiring activities need to be responsive to the ever-increasingly competitive market to secure suitably qualified and capable recruits at all levels.

Changing Hiring Patterns post recession: An Employers perspective

1. The focus is on Talent management:

Companies are open for great talent; thereby employees with specialized skills and an experience in the respective domain have better options to choose as compared to generalist's .The candidates scoring high on experience, technical skills, along with good command of domain knowledge and excellent communication skills are the ones the companies are looking for in the recovery phase .Moreover companies have a preference for candidates that are working, reasoning that they must be the best of the best, if they survived cuts.

2. Referrals are a good option:

This to be a "reliable channel" to reach out to its potential employees Employers  need to use their extensive contacts as companies are relying on referrals as compared to walk in interviews. When it comes to hiring, companies aren't putting ads for the vacancies for senior levels rather using the referrals of their existing employees for vacancies.

3. Social networking sites:

Social networking websites are no longer used for personal purposes but also for hiring, business marketing and promotions. This primarily includes much of senior-level hiring, and makes it easier for the hiring managers to target candidates with niche skills or for roles based in alien geographies.

4. Focus on reducing hiring costs:

During and post the recession the role of Human Resources during is to save money for the organization. The traditional methods of recruitment of on campus as well as walk in are time consuming and costly procedure , instead companies are preferring reputed institutes and on line job sites for recruitment.

5. Rehiring of ex-employees;

The employees that were laid off or shown pink slip during recession as company were downsizing due to slowdown are now being reconsidered and preferred upon new fresh recruits , as they are aware of company culture and policies.

6. Rewards & recognitions:

Strategic initiatives on the part of the employer to increase the productivity and efficiency of the whole organization and redesign of the compensation scheme

Changing Hiring Patterns post recession: An Employee's perspective

1. Good time for Changing and seeking new diversified Careers:

Many existing employees are waiting for the market to recover, in order to change employers, careers or industries. This is the time when they can come up to new challenging roles which they always desired, a shift from their previous roles which they opted due to lack of options during the slow down of the market. The present job in which they have working might be a compromise wherein they don't foresee growth, can now benefit from the post recession scenario and can go ahead with changing career path..

2. Raise or Promotion:

Employees plan to ask their bosses for a raise or promotion once the recovery is underway.  As employers need to ensure their best employees remain with their firm when they're presented with other opportunities, the better salary packages and other benefits and perks will play a critical role in retaining their employees.

3. Demand for strong branded companies as employer.

Job seekers are opting for strong and stable brands rather than those who are offering quick money. Companies with stable track record of growth and market share is being preferred over new establishments.

4. Innovation & skills is the buzz word:

The job seekers need to ensure that they  are adequately skilled and are abreast with the latest changes in the market. They job seekers need to acquire knowledge and special traits necessary to be successful. The innovation along with planning and problem solving skills is what they the need for their survival.

5. Increased competition :

Job seekers are facing competition not only from the fresh recruits but at the same time experienced workforce who is looking for change and those who have been laid off in the past due to recession. So job seekers need to face competition as result of more availability of candidates and less opportunities.

Conclusion:

India represents a wonderful opportunity for employment as has shown rapid growth across all sectors .The workforce in India is as competent and as capable as their international counter parts. In this phase of recovery, employees with mindset of innovation, passion to excel, with relevant experience & expertise, ability to work in team and adaptability are some of the attributes they need to focus as companies are changing their hiring patterns to suit the current environment for survival.
 

Mrs.Meenal Vasal
Faculty
International Business School
Kota
 

Source: E-mail January 19, 2010

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