A recent survey by one of the HR and recruitment services providers, which was aimed to understand the current and future state of the Human Resources landscape in India, found that 59% of HR leaders believed that it would be selective hiring in 2023. 33% of them believed that it would be aggressive hiring while 7% of leaders believed that there is a pause in hiring.
The survey was conducted by Biz Staffing Comrade, with more than 30 HR leaders participated in the study.
The survey also revealed that approximately 71% of leaders believed that attrition had declined in 2023, around 17% believed it remained at similar levels compared to 2022 while about 13% of participants believed there was an increase in attrition in 2023 compared to last year.
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The survey also found that approximately 48% of leaders believed that they are experiencing steady growth, while 20% believed that their business is maintaining a similar level as last year. Additionally, 16% of leaders believed that they are growing aggressively, while 8% perceived a decline compared to the previous year. Another 8% of leaders believed that they are currently realigning investments.
The survey also highlighted that the most important factors for candidates in deciding a role included considerations such as compensation, work-life balance, job security, advancement opportunities, learning new skills, priorities, and global exposure amongst others.
Puneet Arora, managing partner, Biz Staffing Comrade, said, “Over the years, the role of the talent acquisition function has changed considerably from a traditional number focused inward function to a highly quality focused outward function to achieve the organisation’s broader goals. TA is now responsible for so much more within this space, from talent information to internal mobility and retention and tends to focus on long-term human resources planning.”
“Human Resource professionals navigating economic uncertainty and an ever-shifting work environment will pursue new approaches and new technologies to better develop and retain talent. Today, the success of any modern organisation depends on the success of its workforce,” added Jasvinder Bedi, managing partner, Biz Staffing Comrade.
However, Bedi added there is a persistent skills gap across industries, which has a direct impact on productivity, business growth and innovation. Hence, considering the increased focus on people capability and the asymmetric talent war in the market, the role of talent acquisition has become critical to organisations.
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