Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
  • Municipal Corporations 8/10
  • TRS 7
  • INC 0
  • BJP 0
  • AIMIM 0
  • OTH 1
  • MUNICIPALITIES 116/120
  • TRS 96
  • INC 12
  • BJP 2
  • AIMIM 2
  • OTH 4
Refresh Data
News18 » Business
1-min read

Hiring No More About Recruitment, But Attracting Talent: Companies Will Wake up to This Reality in 2020

Longer time to hire, increasing number of dropouts and attrition indicate that hiring has not just become expensive and difficult, but also the inability to attract right talent is impacting business.

PTI

Updated:December 29, 2019, 5:00 PM IST
facebookTwitter Pocket whatsapp
Shine.com, Online Jobs, IT Jobs, Zairus Master, Indian IT companies, technology news
Representative image.

Mumbai: With the workforce transformed significantly over the last decade, a study has revealed that hiring is no more about recruitment but about attracting as there are increasing number of dropouts, and attrition rate has peaked beyond 22 per cent.

About 78 per cent of companies in a survey admit that hiring and retaining has become more difficult compared to the previous year, according to 'The 2020 Talent Technology Outlook' study by research-backed innovative talent solution provider SCIKEY.

Longer time to hire, increasing number of dropouts and attrition that has peaked beyond 22 per cent indicate that hiring has not just become expensive and difficult, but also the inability to attract right talent is impacting the business, the study showed.

About 68 per cent of employees are partially or fully disengaged, leading to billions of dollars in productivity loss, it said.

The study also showed that organisations in 2020 will wake up to this reality and see technology going beyond people-intensive hiring to a tech-driven and branding-focused initiative that will attract talent faster.

Companies will deploy branding and marketing experts to spruce up their image that would strike the right note with their prospective workforce. Social media will start playing even more meaningful role in HR marketing.

The study is an analysis of inputs from 100-plus C-suite and human capital leaders across four continents, including in India, by SCIKEY, through surveys, social media inputs, interviews and panel discussions.

Further, it showed that expensive workforce will drive companies to hire more contractual and gig workforce.

About 54 per cent of the respondents said they will use crowd resources in the next two years for some part of their business, it said.

Unpredictability with full-time work will move more people to contractual or gig economy and with the availability of talent marketplaces, 2020 will start seeing the shift of employee and employer's mindset, it added.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Yes Bank 42.75 4.40
AAVAS Financier 1,951.00 -2.43
Infosys 782.95 -0.20
Alembic Pharma 590.20 0.03
Reliance 1,521.70 -0.35
Top Gainers
Company Price Change %Gain
UltraTechCement 4,641.05 2.47
Tech Mahindra 787.50 2.43
Kotak Mahindra 1,643.95 2.35
Larsen 1,359.80 2.03
Axis Bank 737.30 2.01
Top Losers
Company Price Change %Gain
Power Grid Corp 196.95 -2.14
IndusInd Bank 1,316.00 -1.21
Tata Motors 186.45 -1.04
Sun Pharma 447.70 -0.49
TCS 2,184.60 -0.40

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results