By Sandhya D’Souza
Daijiworld Media Network
Bengaluru, Aug 14: Arnold Consulting Pvt Ltd has been ranked as number one in India and 13th in the entire Asia Pacific region on LinkedIn from a pool of 60,000 staffing companies, 627,000 consultants, and LinkedIn's 500 million members as the Most Socially Engaged Staffing Company. In an exclusive interview with Daijiworld, Arnold Consulting Pvt Ltd Managing Director Cyril Nandan Nazareth explains the recruitment scenario in India and how the country has the potential to become the largest staffing industry.
What makes India the largest recruitment market? As a recruiter, are there difficulties in spotting the right talent in India?
Recruitment industry in India is estimated to be around Rs 40,000 crore. The Global Staffing Industry has estimated India to be one of the largest markets and also say that the country has the potential to become the largest staffing industry given the support from Indian government in ratifying certain labour laws or regulations. Having the largest youth population in the world, India has a better edge than China. With a population of over 1.3 billion people and a significant working population, India shouldn’t have a problem in finding talent, but the real difficulty is in finding the right talent. Companies can grow exponentially only if it has the right people. That’s where specialized skill sets in sourcing and screening the right talent comes in.
Why is the recruitment industry growing at such as fast pace in India?
Top 15 sectors in India including Automotive, Retail and E-Commerce and Infrastructure employ about 81% of the formal sector workforce. About 4, 00,000 new high-skilled and new-age jobs will be created across the IT, manufacturing, pharma and energy sectors through 2018.
However, here’s another interesting statistic. India is likely to witness 69% of its jobs becoming automated as per a global study. This presents both a crisis if people don’t re-skill and also an opportunity for those who keep investing in themselves and growing their skill sets.
Can you explain what the causes for this crisis are?
Today’s global economy continues to develop at such a rapid pace that our education systems and training programmes are struggling to keep pace, further expanding the skill gap, increasing the talent shortage, and making the search for skilled workers an even harder task.
Growth of the gig economy, shortage of in-demand skills/ talent, demands for technology and data are all market drivers for organisations to consider in their workforce planning and talent acquisition strategy. Organisations are losing several millions of dollars in revenues because of lost opportunities and delay in kick-starting their projects only because they don’t have the right people.
Why is staffing a specialized industry?
Today, companies are looking up to Staffing Companies as Strategic Advisors to help them locate talent with the right kind of skills and knowledge to help drive business growth, so they can focus on running their business. Finding the right talent is both an art and science. It requires a combination of intellect, skills, proven process and right technology.
Diversity hiring is known as an emerging trend in recruitment industry. Can you explain why?
Diversity hiring is the most embraced trend with 78 percent of talent leaders responding that they are tackling hiring diverse talent, head on. Why? Well, 78% of companies indicated they are prioritizing diversity to improve culture, and 62% are doing so to boost financial performance.
Also, new interview techniques are gaining favour. Today interviewers focus on assessing candidate’s soft skills and also understanding candidate’s weaknesses.
Is it true that recruiters use Artificial Intelligence to help make decisions while recruiting?
It is true. Recruiters and hiring managers, globally, shared that Artificial Intelligence is a bold disrupter, and 67% admitted that it helps them save time, 43% say it helps remove human bias and 31% said that it helps them deliver the best candidate matches. Recruiters also said that AI is most helpful while sourcing, screening and nurturing candidates.
Not just Artificial Intelligence but ‘Data’ also plays an important role. This new era of talent intelligence is a big step forward as it allows talent leaders to use data to influence future hiring. The top three ways companies noted they are using data is to increase retention, evaluate skills gaps and build better offers.
What makes Arnold Consulting stand out compared to other staffing companies?
We stand out because we know to balance the candidate as well as the client experience. It is because of this we are ranked number one in India and 13th in the entire Asia Pacific region from a pool of 60,000 staffing companies as the most socially engaged staffing company.
Our talented employees focus on solving crisis and also help companies capitalize on their growth opportunities.
Recently, we sourced for one of our clients a top industry performer. Within just six months of joining, he helped his company win a US $ 500 million project. That’s what we call as real performance and that’s how we would like to make a real difference!
Contact:
Rinna D’Souza
Arnold Consulting Private Ltd
# 1328, PJR Arcade (Above ICICI Bank)
24th Main, Sector – 2, HSR Layout,
Bengaluru – 560 102, Karnataka, India
Tel: +91-9900016276/9901957792