India’s rapid economic growth has created intense competition for skilled talent. Despite the positive economic environment, a LinkedIn poll reveals that 88% of Indian professionals are considering a job change, with nearly 80% looking for roles in different industries. This trend underscores a significant skills gap, especially with the rise of artificial intelligence (AI) in the job market.
Companies are addressing this challenge by investing in skill development for their existing workforce. Learning and development (L&D) professionals are working closely with HR departments to design tailored training programs. Additionally, businesses are expanding their talent pool by tapping into skilled workers in Tier-2 cities, establishing new offices to leverage this often-overlooked talent segment.
Responsive, for instance, has successfully expanded into Coimbatore, benefiting from its local talent and educational institutions. This strategy helps in retaining committed and skilled employees who prefer to stay in their hometowns.
For 2024, hiring trends indicate a strong focus on AI adoption, employer branding, and tailored recruiting strategies for Millennials and Generation Z. Companies are also prioritizing employee well-being and recruitment for skilled roles to adapt to new technologies. HR professionals are advised to align HR strategies with business objectives, use data-driven decision-making, and prioritize a strong organizational culture.
Approach to Upskilling and L&D at Responsive:
Responsive is committed to continuous learning and development, partnering with LinkedIn Learning to provide a wide range of courses. They identify skill gaps within teams and offer targeted training, encourage role exploration within the organization, and promote participation in industry seminars. Employees are also encouraged to pursue industry certifications to enhance their skills and professional profiles.
Responsive’s Strategy in Tier-2 Cities:
Responsive’s expansion into Tier-2 cities like Coimbatore has been successful, allowing the company to access a pool of skilled and loyal employees. This strategy includes partnerships with local educational institutions to secure emerging talent and a hybrid hiring model to fulfill skill requirements from both Tier-1 and Tier-2 cities.
Hiring Trends for 2024:
A survey of employers indicates that India’s net employment outlook is among the highest globally. Despite this, companies worldwide face a talent shortage. Key trends for 2024 include the adoption of AI, a strong employer brand, and tailored recruiting strategies to attract Millennials and Generation Z. HR professionals should align HR strategies with business goals, use data for decision-making, and prioritize organizational culture to attract and retain top talent.
Community Manager.