State of Talent Acquisition 2019 Report: Key Facts
The State of Talent Acquisition Report by the Mercer-Mettl’s highlights the following important facts:
- India Companies are expected to raise their hiring budgets by 34 per cent and volumes by 31 per cent in 2019.
- Due to this increase in hiring the companies are expected to raise their hiring budgets by at least 34 per cent compared to 20 per cent of companies in 2018.
- Technology will be a critical driver for achieving better outcomes, as well as for adapting to the growing changes in the job market and the hiring landscape.
- The better outcomes are not just confined to recruiting an adequate number of professionals and retaining them but also managing their human capital efficiently.
- The report notes that technology is employed extensively in sourcing (88 per cent) candidates, while it is used the least when-boarding (49 per cent), candidates.
- The report cites that lack of budget (about 33 per cent) as the biggest obstacle to implementing technology in the talent acquisition process.
- The respondents have cited that Human capital acquisition remained a critical issue in the country with employers indicating that ‘finding quality talent’ is a problem.
- The human capital acquisition was cited as a critical issue by 84 per cent the in the Northern region of the country, followed by Southern Region (81 per cent), East (71 per cent) and West 58 per cent.
- The Situation was comparatively better for larger organisations, as 67 per cent of respondents from the category said they face the least resistance in talent acquisition, although the challenge still persists in certain aspects of the process.
- The report notes that finding talented employees for specific roles has become a major stumbling block for organisations even when they are ready to offer remunerations that are considerably higher than the market standards.
The State of Talent Acquisition Report was based on a survey of over 900 recruitment decision-makers including VPs, SVPs, EVPs, C-suite executives, directors, managers and HR executives from across the country.