Talent Acquisition Trends for the year 2021
The corporate world has seen an unprecedented year in 2020 which was filled with a lot of uncertainty and a lot of volatility in the recruitment sector. A lot of organizations have tried to cope up with this pressure by re-strategizing their hiring and opted for downsizing on a large scale. This has resulted in lakhs of job losses and changed the employment dynamics completely.
On the flip side, the pandemic has proved to be a boon for the industry as it has made people realize the need for unlearning and relearning. Upskilling became the need of an hour. Organizations strived to become more hybrids and preferred to opt for multifaceted candidates.
Come 2021 corporates have geared up to embrace this New Year with a lot of grit and a lot of hope. We have been interacting with a lot of top HR leaders and collected many interesting thoughts on how they wish to move ahead in 2021. Â Below are some interesting trends that we are surely going to witness ahead.
The Rise of Freelancers and Gig Workforce
One of the most defining outcomes of the pandemic was the rise of the freelance economy in India and the fact that people have started to accept that freelancing can be a full-time profession as well. A report by ASSOCHAM has predicted that the gig economy in India will be approx. USD 455 billion by the end of 2023.
Skill Base Hiring will be the Need of An Hour
Some staggering facts suggest that more than a million jobs will emerge in the most specialized areas such as computing, engineering, medical, and, healthcare which will require highly specialized skill sets. This will force people to evolve and upskill themselves completely to stay relevant in the job market. A strong push by Govt of India in Skill development is a clear indication that India will evolve to embrace this sea change. Organizations are going to hire people who are agile and are specially skilled in the required domains.
Remote Working is Here to Stay
The job location will be an absolute criterion going forward as organizations have realized that even after working remotely they can clock higher outcomes. The rise of advanced communication technologies has fuelled this in a big way. This has opened the gates for companies to invite talent pool from any corner of the world and vice versa.
Data Driven and AI-based Hiring
The might of AI and big data is increasing day by day in hiring these days. Gone are those days when HR was traditionally managing different functions of HR. With the increasing pressure of the right hiring, companies will rely heavily on a data-driven approach to hiring. Advanced HRIS will help the hiring managers to automate the entire hiring process from scratch.
Internal Talent Upskilling and Mobility
Aligning the skills and abilities of the internal talent pool with the business will be the prime KRA of the HR managers going forward. Companies will encourage their employees to upskill themselves and show off their talent in taking the organization to a different level. Companies will nurture the culture of specialized and customized training for their employees and will look to retain the right talent for a longer run.
Sectors to look out for: It is eminent that hiring in specific sectors such as healthcare, pharma, e-learning, and e-commerce is going to pick pace again in 2021.Â
All said and done companies have learned it the hard way that going forward they will have to redefine the hiring strategies to function smoothly and ensure sustainable growth. Those who can adopt these new normal trends will be able to sail through in years to follow.
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