'Strategic Talent Acquisition & Retention 2010 - 11' August 5, 2010

Decision Matrix: Talent Acquisition in 2010’

Around October 2008, Indian economy acknowledged that recession had indeed set in, though many other markets had done so much before.
Between Oct 2009 & Jan 2010, many verticals started experiencing growth in business volumes. In the last 6 months economic data indicates a strong resurgence & almost all verticals have come out of he ‘recession’
mind set. The result is, companies are back in the job market. Insurance, Infrastructure, Manufacturing, Banking, Retail are some of the sectors, which are back to business. Perhaps the last vertical to join the recruitment band wagon was IT, what with leading IT players announcing huge numbers in the current year hiring plan. Thank God, the recession is over
& jobs are back! Some Recruiters are already experiencing the “job seeker” behavior that was so common in place during the boom time.
During the recession most organizations / sectors stopped hiring. Only critical replacements were considered for back fill, if at all. After a long
time professionals had started chasing jobs. Supply chain constituents withered. Interestingly filling up some vacancies became even more difficult because those in jobs refused to take risks attendant in a job hop.
During the boom period, organizations were experiencing huge difficulties in meeting headcount targets. The reasons were unbridled attrition, shortage of skilled talent, inability of organization to impose on themselves some discipline, like rejecting candidates who are seeking
change within one year of last change. Organizations were, once in a while, tweaking the recruitment strategy to overcome the challenge but
with limited success. Yes, just about everyone got their numbers eventually but cost & quality were big question marks. The vendor segment felt that, at a micro level, one of the lacunae was under utilization
& under engagement of the VENDOR. The organizations focused on building a ‘CV funnel’ and not utilized vendor for higher- end roles like better screening, coordination & comfort building.
So the questions that beg answers now are:
Is the Return of the job market just of blip?
What will be Demand – Supply equation in the next 1 year?

The talent acquisition methods that were used by organizations earlier; are they
working now?

Is there a need to change the way organizations have been looking at recruitment in terms of models & efficiencies?

Importance of the Vendor?

Let us find approaches and answers to most of these issues from the experts from different verticals at the ERA's “Talent Matters Series - 10.08” on Thursday, August 5, 2010 between 7 PM – 10 PM

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