According to a Merce-Mettl report, the average hiring volumes in India’s corporate world will increase by 31 per cent in 2019, compared to 25 per cent in 2018. The 2nd Annual ‘State of Talent Acquisition 2019’ report also stated that the budgets for hiring will go up by 34 per cent.
The survey covered more than 900 VPs, SVPs, EVPs, C-suite executives, directors, managers, HR executives and other hiring decision-making authorities, across India.
As per the report, technology is widely used in sourcing (88 per cent) candidates, whereas it is hardly used during boarding (49 per cent). The biggest hurdle in the use of technology to acquire talent seems to be insufficient budget (33 per cent).
Eighty four per cent of employers in the northern region of the country admit that finding quality talent is a huge challenge. In the southern region, 82 per cent respondents find talent acquisition a big hurdle, followed by the eastern part of the country with 71 per cent and western region 58 per cent.
The situation is comparatively better for larger organisations, as 67 percent 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.
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 report added.