LinkedIn, the world’s largest professional network, on Apr 14 launched the first edition of the ‘Future of Talent’ report that looked at the evolving role of HR in India, and how talent is hired, engaged with, and developed in the new business environment. According to the report, upskilling will be core to the talent strategy, and trends such as internal mobility, data-led hiring decisions, and improving employee experience will be in focus for employers in 2021.
In 2020, the rate of attrition increased 1.5 times in India as employees battled long shifts while working remotely. As signals of a second wave accentuate India’s remote working needs, the report shows that HR will play an even bigger role in determining the future of talent as 9 in 10 companies agree that HR will now play a key role in helping organizations streamline their business, shape their strategy, and hire more efficiently, even beyond COVID-19.
Internal mobility, upskilling, and data-led hiring become workforce priorities in India for 2021
The pandemic has introduced significant internal shifts within companies. This, coupled with India’s historically competitive talent market, is fuelling the rise of internal mobility across companies today. According to LinkedIn’s Future of Talent report, more than 9 in 10 (93%) companies in India are looking to fill open roles internally in the post-covid era.
Diving deeper into the reasons for this surge in internal hiring, the report shows that 7 in 10 companies in India hire internally to gain an insider’s perspective or a sense of progress. The report also states that when hiring internally, the top 3 skills that companies in India look for are good communication, problem solving skills, and time management.
To keep pace with today’s rapidly digitising business needs, companies are also keen to upgrade the capabilities of their workforce. Taking cue, 95% of companies in India have dedicated L&D programs to help employees learn new skills and prepare for the future, according to the Future of Talent 2021 report.
While skills take the centrestage, many companies in India are also leaning on data analytics to tap into relevant talent pools when hiring today. LinkedIn’s research shows that 91% companies in India use data to make informed talent-hiring decisions while 53% frequently use data to map skills with open position requirements. To make remote hiring even more efficient, 9 in 10 companies are also merging roles to reduce talent acquisition costs today.
“As remote work continues to disrupt the way we work, HR will play a greater role in helping companies absorb new hiring trends to build the future of talent. In 2021, India will see more companies merge roles, upskill their employees, and hire internally to maximize business growth without expanding operational costs. Data-led hiring practices will also play a critical role in helping companies engage with their employees, attract the right talent, and hire more effectively in 2021. It’s evident that companies today are realizing that businesses succeed when their people succeed,” says Ruchee Anand, Director – Talent and Learning Solutions, India at Linkedin.
|Top skills for HR professionals during COVID-19
1. Good communication skills
2. HRIS Knowledge
3. Time Management
4. Teamwork & collaboration skills
5.Ability to empathize with staff
|Top skills looked in employees while hiring internally
1. Good communications skills
2. Problem solving skills
3. Time Management
4. Strategic Thinker
HR professionals will help companies put the ‘employee first’ in 2021
As remote work becomes a continuing workforce trend, HR professionals are encouraging companies to prioritize employee experience and keep their remote staff engaged today. In fact, more than 8 in 10 (85%) companies in India are already holding more engagement activities to keep employees inspired and connected with their teams despite working in isolation.
The report also shows that companies in India are significantly more open to hiring remote staff when compared to other APAC countries. Given India’s greater preference for remote staff, more than 9 in 10 (94%) companies are building a good employer brand by having an active social media presence, and sharing more about their vision and focus on innovation. In fact, 4 in 5 (80%) companies have already experienced an increased pool of qualified candidates because of their efforts in employer branding.
Check out the full Future of Talent APAC report here.