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Workplace 2020 Playbook on Future of Talent Acquisition


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Workplace 2020 Playbook on Future of Talent Acquisition

  1. 1. HR Leaders Roundtable Series Workplace 2020 Playbook on Future of Talent Acquisition #FutureTA Jan 22, 2014, Noida
  2. 2. Table of contents Forward Workforce Analytics and Big Data Key drivers of Talent Acquisition Evolving Role of TA Managers Understanding Sourcing & Selection Glimpses from the roundtable Technology driven innovation 2 l
  3. 3. Forward Employers worldwide agree that it’s becoming increasingly difficult to find the right talent needed to fuel organisational growth and sustainability. Friction points in supply and demand and shifting skills sets will call for a radical rethinking of how companies source and deploy talent and work. The future of workplace is fast evolving and is getting impacted by multidimensional changes including changing work force demographics, quality of talent pool, competitive compensation structures, technology enablement and social media engagement. Organisation need to develop blended talent acquisition strategies to attract and hire top candidates — creating sourcing plans that include social media and employer branding. HR Leaders have to find recruitment technology not only to reach candidates but also to assess and provide analytics on those candidates. Finding the right talent is critical for transforming the company, and building comprehensive recruitment plans that unify business goals and talent aspirations. This session of the Workplace 2020: HR Roundtable series witnessed exchange of thoughts by HR Leaders to explore, identify and share some key learning’s from Indian businesses with respect to the latest practices and future trends in talent acquisition. 3 l
  4. 4. Key drivers of Talent Acquisition 4 l
  5. 5. Key drivers of Talent Acquisition • Highly competitive, complex and global workplace environment. • Workforce Demographics. • Technological changes will be game changer. • Insufficient talent supply will lead to continuation of ‘War for Talent’. • Evolution of newer types of employment contracts. • Managing career aspirations of young population. • Employer Branding will drive organisational capability to attract top talent. • Emergence of Leadership Brand will define organizational brand in the future. Talent acquisition in the current context is highly operations driven, reactive in approach and sometimes without timelines however the future will witness HR to be more proactive in approach and aligned to business. - S.Y.Siddiqui, Chief Operating Officer (COO) – Administration Maruti Suzuki India Limited 5 l
  6. 6. Understanding Sourcing & Selection 6 l
  7. 7. Understanding Sourcing & Selection • Talent Acquisition (Sourcing & Selection) - On Demand sourcing and face-to-face selection methods are considered highly ineffective and we’ll see major shifts in the future. • Huge pressure on sourcing teams to meet hiring numbers, specially in IT/ITes. • Selection engines are still unreliable – innovative thinking and solution needed. • Organisations are incentivising business leaders to source talent internally. • Employability gaps at entry level are still large that causes shortage in talent supply. • 60-70% of people passing out of campuses lack functional capability. • Value based selection will remain key and will define workplace culture. On Demand hiring is probably the worst form of hiring which is recognised globally. In my personal view, face to face interviewing is probably the most unreliable method to bring people into your organisation. - Deepak Dhawan, CEO & Founder , Talentonic HR Solutions and Former Global Head – HR, EXL Service 7 l
  8. 8. Technology driven innovation 8 l
  9. 9. Technology driven innovation • Mobile Apps are going to be the life blood for young people entering workforce. • Digital platforms are key as employer brands will get built online in the future. • Although at nascent stage currently, but organisation are already beginning to leverage Mobile Apps for On-boarding, Learning, Employee engagement and employees referrals programs. • Social media continues to remains key in overall talent acquisition strategy. • Effectiveness of social media for hiring is still evolving and is being questioned by organisations. • Mobile + Social media is expected to be game changer in the future of talent acquisition. • ‘Human touch’ needs to be retained and enhanced across employee touch points. Social media is an integral part of talent acquisition managers lifestyle today. Most of us use smart phones and 70-80% of candidates want to look at a job at a click of a button. Applications such as WhatsApp are increasingly being used. - Natasha Singh Senior Vice President – Human Resources, Steria India 9 l
  10. 10. Workforce Analytics and Big Data 10 l
  11. 11. Workforce Analytics and Big Data • The purpose of workplace analytics is to unleash insights to know your own organization better. • Internal insights are far more critical than building predictability on external factors. • Business decisions in future will be more and more based on objective data curated from workplace analytics. • HR Analytics will go across employee lifecycle and not just restrict to workforce demand planning and jobs forecasting. • It is important for leaders look at analytics as a strategic tool however they must still take decisions with their own wisdom. Organisation in the future will develop specific apps that can be leveraged for attracting and engaging employees across platforms such as mobile & tablet. Employer brands, just like consumer brands will be built online in the future. Abhijat Mitra Director - People Operations (APAC) at Exponential 11 l
  12. 12. Evolving Role of TA Managers 12 l
  13. 13. Evolving Role of TA Managers • The role of TA professionals has become key contributor to business success. • Talent acquisition in the future will be more of talent farming (building talent communities) and not just talent hunting (On-demand hiring). • Leveraging social media and data analytics are going to be the most critical competencies for any talent acquisition professional in the future. • Talent acquisition professionals will have to understand the business context and deliver long term value to an organization. Only meeting short term numbers will no longer be sufficient. • Talent acquisition will be more aliened to business. It is expected that far more non HR professionals will take up TA roles in the future. How do we assess the correct attitude at the time of hiring is critical, especially in mid-senior level hiring as its impact the workplace culture across the organisation. Psychometric assessment has its limitations as it doesn’t work every time. - Anshumal Dikshit Head – Human Resources, iGate BPO 13 l
  14. 14. Glimpses from the roundtable 14 l
  15. 15. Glimpses from the roundtable Participation by HR Leaders from following organization (in alphabetical order) Cadence India Exponential Mentor Graphics ONGC HCL Tech iGate BPO Jubilant Life Sciences Pfizer Radio Mantra Steria India Lava International Talentonic HR Solutions Maruti Suzuki Zee Media
  16. 16. HR Leaders Roundtable Series Workplace 2020 Initiative by Corporate Shiksha Corporate Shiksha™ – the learning network for Young India is a next generation platform to nurture and grow the capability of young and aspiring professionals. It is focused on helping students and working professionals to get ahead in their corporate career by facilitating practical & experiential learning programs with a spirit of volunteerism and social development. Workplace 2020 in an initiative by Corporate Shiksha is an attempt to create an learning platform on Future of Workplace focused on corporate leaders in India and South Asia Region. Workplace 2020, HR Leaders Roundtable series has created a strong consortium of industry leaders to explore, identify and showcase effective and innovative people strategies which enable them in becoming future ready organizations and improve overall people management practices. 17 l Get latest insights on the future of workplace Access video presentation on YouTube Follow us on Facebook Follow us on LinkedIn Follow us on Twitter @CorporatShiksha Connect with us on email