20 October 2017

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‘The Hiring Curve Predicts Good Future Ahead’

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While the industry has clearly been showing an upwardly direction for growth and revival, Ma-Foi is one among those few organisations which is not only witnessing this shift closely, but also can predict the hiring trends.E. Balaji, President – Staffing/ Selection & Training, Ma Foi Randstad, interacts exclusively with Faiz Askari, Editor-Technlogy, Small Enterprise India on various aspects of ‘hiring’ trends.

Mr. Balaji leads Ma Foi Randstad's Selection, Staffing and Training businesses which offer permanent, flexi and specialist staffing, training and assessment services. He had spearheaded the franchising foray of Ma Foi through which the organisation established 60 business partners across the country.

Balaji started his career with Ma Foi in 1994. He has been instrumental in designing recruitment processes using multi-pronged strategies to attract the right talent.

Balaji holds a Masters in Business Administration from School of Management, Pondicherry University, India. He is a certified Lead Auditor (IRCA, UK) for ISO 9001:2000 and a certified Six Sigma Green Belt.

 1. The slowdown scenario seems to be over, companies are again back on expansion and hiring. How do you look at this situation?

Yes! Dark clouds of slowdown are receding away. Companies are hiring again. As per the last quarter results of Ma Foi Randstad Employment Trends Survey, India will generate about a million new jobs in the organised sector. Further, the study reveals that during the period of Jan-Mar, there was addition of about 147,000 jobs while the quarter of April-June, is estimated to be creating about 350,000 new jobs. We see a sense of optimism across almost all the sectors. The performance of the economy during January to March 2010, has provided the necessary impetus to growth for all the sectors. As a consequence, employment generation is on card for every sector, though in varying degree.

 2. What are the trends that you are witnessing in today's context?

Organisations are looking for candidates who match well with their culture, competencies required for performing the job and future potential. Hence, recruitment cycle has become a bit longer than the normal that the industry has been traditionally used to experience. Recruitment managers and service providers are witnessing a lot more rejection than they budgeted for. Compensation offered for a lateral hire is no more as aggressive as they used to be a couple of years ago. Organisations have been trying their best to retain their employees harder than what they did in the slowdown. On the whole, recruitment efforts have become a lot more to ensure that the closest possible job-match is on-boarded at an appropriate compensation. We feel that many organisations are rightly applying caution in hiring.

 3: Which are the industry sectors that have got potential for a promising career in the near future?

Green jobs throw open several career options that are both meaningful and promise growth. Green-collar jobs are accessible to people from varied educational backgrounds and professions, engineers, bio-technologists, environmentalists, auditors, accountants, scientists, economists, media professionals and the like.

Telecom was one of those highly resilient sectors, which weren’t too affected by the recession. Infrastructure projects – roads, bridges, and railways are gaining momentum - and were one of the first few to experience a revival. Animation and gaming is an interesting and new avenue. Even private banking players are recruiting actively especially in wealth management, microfinance and insurance. The automobile industry is also revving up! 

4.  In the hiring industry, digital medium has shown great impact. In what all ways digital medium is getting used by the HR managers?

Digital medium is being used consistently by HR managers for the last few years. However, the mix of channels being used is getting a bit more tilted towards digital media, especially due to the advent of networking sites.

 5. How does MaFoi look at Digital medium specially with regards to Hiring processes?

 We have presence in digital media in many forms – right from our web site to various social media. This helps us communicate with the potential candidates better and build employer brand stronger.

  6. From the perspective of career growth, what prospects, do you foresee, for a professional in the digital space?

This space is growing at a fast pace. Hence, it is quite an exciting time for the professionals in this domain to learn and innovate. This is the time to create and deploy innovative solutions that match customer needs; and exceed them. The professionals in this space have an opportunity at hand to deeply listen to their customers; engage with their customers and users intimately to come up with solutions that outsmarts the existing order. While these are interesting times, the speed of change will put obvious stress on the employees and their employers as well.

 7. How do you look at the placements/jobs market in next two years? What all segments will drive the growth?

Indian economy is slated to grow faster in the next couple of years and the growth focus appears to be holistic in general. However, considering current policy directions, we see high growth opportunities in sectors like real estate, construction, healthcare and hospitality. We also think that manufacturing will bounce back soon. IT, Telecom and ITES will continue to grow steadily. Growth of banking, financial services, telecom, retail, healthcare and construction in small towns and cities is eminent too.

 8. Which are the industry segments that will continue to focus on online medium for their jobs/placements processes?

There are a few sectors such as IT, ITES, Telecom, Consumer, Services that typically lead the pack in terms of adapting new practices. We feel that they will start focusing on online media faster.

 9.   What hiring trends are likely to dominate in next 12 months? 

Hiring trends are expected to continue at a faster pace in the coming quarters. New job creation is likely to be high in sectors of healthcare, real estate, construction and hospitality. Intra-sector movement is likely to remain high amongst the 18 lac work force in IT/ITES, 13 lac in Media & Entertainment and 8.6 lac in BFSI.

 

Last Updated ( Monday, 26 July 2010 04:03 )  
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