Tag: Hiring

Harnessing Employee Advocacy: Boosting Brand Reputation and Attracting Top Talent

In today’s dynamic and competitive marketplace, companies constantly seek innovative strategies to stand out. One such powerful strategy is employee advocacy, which not only enhances a company’s reputation but also plays a pivotal role in attracting top talent. By leveraging the authentic voices of employees, organisations can build trust, gain engagement, and create a compelling employer brand that resonates with both customers and potential hires.

Employee advocacy is a strategic approach where employees actively promote their company’s brand, products, or services through their personal social media channels and networks. Essentially, employees become brand ambassadors, humanising the brand and making it more relatable and trustworthy in the eyes of customers. 

Employee advocacy goes beyond mere promotion; it creates a sense of ownership and pride among employees, strengthening their connection to the organisation. Engaged employees who actively promote the brand often feel that their contributions influence the company’s success. This heightened engagement leads to more open communication and active idea-sharing within the organisation, creating a vibrant and innovative workplace culture.

Moreover, employee advocacy is crucial for retaining top talent. Employees who feel personally invested in their organisation’s success are less likely to seek opportunities elsewhere. According to LinkedIn, 75% of job seekers consider an employer’s brand before even applying for a job, highlighting the importance of a strong, positive employer brand in attracting and retaining talent.

Business Benefits of Employee Advocacy

Implementing an employee advocacy program offers numerous benefits for businesses, particularly in the B2B sector:

  • Enhanced Brand Reach: Your brand’s content can reach a wider audience through employees’ networks. Employees have, on average, 10 times more connections on LinkedIn than their companies’ followers, exponentially increasing the brand’s visibility.
  • Increased Credibility: Messages shared by employees are perceived as more credible and authentic. Forbes shows that 52% of consumers trust employees more than the company itself, enhancing the brand’s reputation.
  • Lead Generation: Employee advocacy can drive traffic to your website and encourage engagement, directly contributing to lead generation. Additionally, 91% of B2B sales are influenced in some way by word of mouth (Demandbase).
  • Cost-Effective Marketing: Leveraging existing resources by empowering employees to promote the brand is a cost-effective marketing strategy.
  • Competitive Advantage: In a crowded B2B market, a strong employee advocacy program can set your organisation apart as an industry leader.

When employees speak positively about their workplace, it humanises the brand and builds credibility. 72% of enterprise companies work with internal executives to grow thought leadership, with 90% focused on building credibility and social influence (TopRank Marketing). This not only enhances the brand’s reputation but also attracts like-minded talent.

It is a powerful tool in recruitment efforts. Job seekers today are looking for transparent and relatable views of a company’s culture. 4 out of 5 LinkedIn members drive business decisions (Sprout Social), making platforms like LinkedIn ideal for employee advocacy. 81% of B2B buyers value LinkedIn as a significant source of research before purchase (Fronetics), further emphasising its importance.

Employee-generated content, such as personal stories and social media updates, provides a transparent view of the company culture, helping prospective employees envision themselves within the organisation. This sense of community and authenticity makes the company an attractive place to work, setting it apart in the competitive job market.

LinkedIn stands out as a prime platform for employee advocacy due to its professional focus and extensive reach. Employees on LinkedIn have, on average, 10 times more connections than their companies’ followers, allowing for organic amplification of messages. Additionally, 75% of job seekers consider an employer’s brand before applying, and 15% of buyers consult vendor-driven marketing materials when purchasing (TrustRadius).

By encouraging employees to actively engage on LinkedIn, companies can tap into a trusted platform that significantly boosts their brand presence and recruitment efforts.

Equipping Workforce With Skills for the Future 

In India’s ever-evolving job market, new careers fueled by technological advancements and shifting economic priorities bring a blend of opportunities and challenges. As we look toward the next decade, industries like technology, healthcare, and renewable energy are touted to transform the employment landscape. This transformation will create new roles and demand fresh skills and adaptive learning strategies, making it an exciting time for job seekers and professionals.

Emerging Sectors Shaping the Job Market

India’s economic blueprint is steering towards an innovation-driven future. Sectors like Technology, Healthcare, Renewable Energy, E-commerce, and Fintech are at the forefront of generating new job types. For example, the technology sector is growing with roles centred around digital transformation, requiring skills in software development, data analytics, and system integration. Similarly, the healthcare sector is expanding beyond traditional roles due to technological integration. An increased focus on preventive care is demanding an expertise in biotechnology and health informatics.

As the renewable energy sector gains momentum, driven by global sustainability goals, it promises a surge in demand for specialists in solar energy technology, wind energy analysis, and sustainable project management. Moreover, the rise of e-commerce platforms demands proficiency in digital marketing, supply chain optimisation, and cybersecurity.

Critical Skills for Tomorrow’s Jobs

Navigating the future job market requires a focus on developing a set of skills that align with technological advancements and industry demands. Data analysis and interpretation are becoming fundamental across sectors, enabling professionals to make informed decisions and drive business strategies. Artificial Intelligence and Machine Learning are becoming the backbone of innovation, finding applications in everything from customer service bots to complex disease diagnosis systems.

Moreover, the emphasis on cybersecurity reflects the need to safeguard digital infrastructures, making it a critical area of expertise. Additionally, as the fintech sector flourishes, skills in digital transaction management and financial software development are increasingly valuable. Soft skills like problem-solving, effective communication, and adaptability are also essential complements to technical abilities. These ensure a smooth navigation of the complexities of modern workplaces.

Innovative Learning Programs 

India’s response to these educational needs is visible through a variety of innovative learning initiatives aimed at equipping the future workforce. Programs under the umbrella of the Skill India Mission are pivotal, offering specialised training in areas like robotics and financial services. Educational foundations and government-led online platforms are expanding access to STEM education, emphasising practical, technology-driven learning experiences that are critical for adapting to the future market.

For instance, initiatives like the India STEM Foundation are crucial in fostering an early interest in science and technology through programs that simulate real-world engineering and programming challenges. These programs not only prepare students for future careers but also instil a mindset of continuous learning and innovation.

Current Trends in Employee Training and Development

Companies are increasingly recognising the importance of continual learning and adaptation. There is a shift towards digital training platforms that offer flexible, personalised learning experiences. Microlearning techniques are gaining popularity, allowing employees to acquire new skills in shorter, more manageable intervals. This approach is particularly effective in a fast-paced work environment where time is at a premium.

Furthermore, the integration of AI tools in training processes is enabling more immersive and interactive learning experiences. Companies are leveraging virtual reality and augmented reality to simulate real-life scenarios, providing employees with hands-on experience in a controlled, risk-free environment.

As we look towards a future where many of today’s jobs may not exist, the onus is on both individuals and organisations to foster a culture of proactive learning and adaptability. By anticipating changes in the job market and investing in relevant skills development, India can ensure its workforce remains competitive and ready to meet the challenges of tomorrow’s economy. 

The Demand Surge for Indian Healthcare Professionals

India’s healthcare sector is experiencing a significant surge in demand for professionals, leading to a hiring boom in the industry. A National Skill Development Corporation (NSDC) report highlights that the growing burden of non-communicable diseases and an ageing population are primary factors driving this demand. As hospitals and healthcare facilities expand their workforce, there is an unprecedented need for key professionals such as medical doctors, nurse practitioners, and medical technicians. This trend is not merely about filling positions; it is about transforming healthcare delivery to better manage the increased burden on healthcare systems and improve patient outcomes.

Emerging Roles in High Demand

The need for general practitioners to address the basic healthcare needs of the population cannot be overstated. Additionally, there is a significant demand for specialised nurses who provide primary healthcare services, particularly in rural and underserved regions. The expansion of healthcare facilities has also led to a growing need for skilled medical technicians to operate advanced medical equipment, ensuring efficient and effective patient care.

In addition, the need for healthcare administrators has increased as facilities expand and services grow more complex. Epidemiologists have also become increasingly important, especially during the COVID-19 pandemic, due to their expertise in disease patterns and control measures. This comprehensive growth in demand across various roles underscores the sector’s transformation, aiming to enhance healthcare delivery and patient outcomes.

Factors Driving This Surge

Several factors are contributing to this surge in demand for healthcare professionals in India, such as:

  • Population Growth: India’s population continues to grow, leading to a greater need for healthcare services. The country is projected to add around 140 million middle-income and 21 million high-income households by 2030. (Source: KPMG)
  • Ageing Population: With an increase in life expectancy, the elderly population requires more medical attention. By 2030, the median age of the population is expected to be 31, making India the largest working-age population in the world.
  • Rising NCDs: Lifestyle changes have led to a higher incidence of diseases like diabetes and hypertension, necessitating specialised care (Source: Apollo Report). 
  • Technological Advancements: The integration of technology in healthcare, such as telemedicine and AI, has created new roles and increased demand for tech-savvy professionals. According to TeamLease Digital, the broad adoption of AI in Indian healthcare is predicted to generate millions of new jobs while replacing nearly 23% of current roles by 2028. The healthcare workforce is expected to grow from 7.5 million to 9 million by 2027, with 1-2% being technology experts. Advancements in telemedicine, virtual assistants, and data analytics are anticipated to create 2.7-3.5 million new technology jobs, increasing demand for professionals like data scientists and AI specialists.
  • Health Insurance Penetration: With more people getting health insurance, there’s an increased demand for healthcare services across the board. As per Forbes, the health insurance market in India was growing at a CAGR of 24% but rose about 34% in the pandemic time period.
  • Government Initiatives: Schemes like the Ayushman Bharat Digital Mission and investments in infrastructure have expanded access to healthcare, thus increasing workforce requirements.

Evolving Qualifications and Experience

The COVID-19 pandemic has influenced the qualifications and experience requirements for healthcare professionals in India. Upskilling has become imperative, with existing professionals needing to acquire new competencies in critical care, respiratory therapy, and infection control. The rise of telemedicine has made proficiency in digital health tools and platforms a necessity. Public health education has also gained importance, emphasising the need for qualifications in epidemiology, public health, and health policy. Additionally, healthcare workers are increasingly being trained to provide mental health support, recognising the psychological impact of the pandemic on both patients and healthcare providers.

Promising Growth Projections

The projected growth rates for employment in the healthcare sector are highly promising. It is expected to grow by 12.59% in the fiscal year 2024-25 as per the Union Budget Allocation. The hospital market, valued at USD 98.98 billion in 2023, is projected to grow at a CAGR of 8.0% from 2024 to 2032, potentially reaching USD 193.59 billion by 2032. The telemedicine market is expected to reach USD 5.4 billion by 2025, growing at an impressive CAGR of 31%. AI applications in healthcare are projected to grow at an annual rate of 45% by 2024. These figures indicate strong long-term career prospects for professionals in the healthcare field.

Adapting Hiring Strategies

Healthcare facilities are adapting hiring strategies to cope with the increased demand for related services. Building a strong employer brand is crucial to attracting top talent. Highlighting commitments to employee development and patient care can make healthcare facilities more attractive to potential employees. Utilising technology in the recruitment process, such as AI and ML, can also help streamline hiring and expand workforce capacity.

Addressing Staffing Challenges

Despite the opportunities, healthcare facilities face several staffing challenges. There’s a persistent shortage of qualified healthcare professionals, including physicians, nurses, and allied healthcare staff, due to the rising demand for services. High turnover rates, fueled by burnout and stress, lead to disruptions in patient care and increased costs associated with recruitment and training. Staffing gaps and workload imbalances result in increased stress, compromised patient care, and employee dissatisfaction. Rural areas, in particular, struggle with limited local resources, making recruitment difficult and putting patient care at risk.

To address these challenges, healthcare facilities are implementing comprehensive upskilling programs and leveraging technology to streamline recruitment and expand workforce capacity. Offering financial incentives, professional development programs, and mentorship can help reduce turnover and attract talent. Collaborating with educational institutions to develop robust recruitment and training programs can ensure a continuous pipeline of skilled healthcare professionals.

The surge in demand for healthcare professionals is driven by a combination of demographic changes, technological advancements, and government initiatives. As the sector continues to evolve, it is essential for healthcare facilities to adapt their hiring strategies and address staffing challenges to ensure a robust and capable workforce. By focusing on building a strong employer brand, leveraging technology, and investing in upskilling programs, India can meet the growing healthcare needs of its population and create a more resilient and sustainable system.

Hiring in the Digital Era

The digital era has revolutionised the way businesses operate and recruit talent. With the help of digital tools and strategies, companies are now attracting and hiring top talent more efficiently and effectively than ever before. In human resources, wherein communication is crucial, technology is changing the landscape. 

Nirupama VG, our Founding and Managing Director adds, “With the evolving scenario, the digital era is throwing challenges that are changing by the hour, making hiring predictable. Having said that, the speed with which it is changing is making it unpredictable.”

What used to be paper-intensive and non-changing has become a fast-paced branch, especially in this sector. In fact, the recruitment industry is now making accommodations for this modern age of digital transformation. 

Here are some interesting facts to further demonstrate the importance of digital tools in the hiring process:

AI is becoming increasingly popular in the hiring process: In a report by LinkedIn, 76% of recruiters said they believed that AI would have a significant impact on the future of recruiting. AI-powered tools can help businesses automate time-consuming tasks like resume screening and scheduling interviews, freeing up recruiters to focus on evaluating candidates’ skills and fit with the company culture.

Gamification can increase candidate engagement: A study by PWC found that 61% of job seekers would be more likely to apply for a job if the recruitment process was gamified. By adding game elements to the hiring process, such as challenges or puzzles related to the job, businesses can create engaging and interactive experiences for job seekers.

Social media is a powerful recruitment tool: According to a survey by Jobvite, 73% of companies have successfully hired a candidate through social media, with LinkedIn being the most popular platform for recruitment. This highlights the importance of leveraging social media in the hiring process to connect with potential candidates and showcase job openings.

Remote work is paving way for technological advancements: A survey by Buffer found that 98% of remote workers would like to continue working remotely, at least some of the time, for the rest of their careers. To attract talent from around the world and create a more diverse workforce, businesses will have to invest in tech needed to support such an environment. They might have to look beyond the technology that was already in place to sustain a remote workforce going forward. 

Company culture is crucial for attracting and retaining talent: A survey by Glassdoor found that 77% of job seekers consider a company’s culture before applying for a job, and 56% of employees said that company culture was more important than salary. By showcasing their company culture through digital channels like their website, social media, and blog, businesses can attract job seekers who align with their values and beliefs.

These facts highlight the importance of using digital tools and strategies to attract and hire top talent in today’s digital era. Social media, AI, gamification, remote work, and company culture are all essential elements of the modern hiring process, and businesses that embrace them are more likely to find and retain the best talent. By using these tools and strategies, companies can stay competitive and ensure their long-term success in the digital era.

Robust final placements at top B-schools allay fears of slowdown in hiring

Hiring intent for freshers has improved by 3 per cent for the current half-year (January–June, 2023) over the July–December 2022 half-year

Amid reports of massive layoffs in the IT industry, the robust final placements at top B-schools including the IIMs (Indian Institute of Management) seems to have allayed fears of a large scale slowdown in hiring. According to industry experts, there has been a rise in the number of offers doled out and average pay package offered to candidates from top business schools and this is likely to have a trickle-down effect on the overall market.

There is also likely to be a strong demand for fresh graduates as employers realise that hiring lateral talents at a premium is not helping them achieve the intended RoI (return on investment).

“The IIM graduates are a small cohort…..obviously these are elitist set of students. Even if job markets are bad, they still have 100 per cent placement. But what is coming out definitely what I can measure from them is the number of offers that they get, which shows that how many employers are bullish about picking – is there five or 50 and that talks about sentiments and second is that if the package rates are going up, it shows the bullishness amongst employers. So of the 50 who have gone to IIMs possibly ten of them will pick candidates from there and the remaining will go to the next institution because that demand is still there so there will be a waterfall effect on other institutions too,” Shantanu Rooj, Founder and CEO, TeamLease Edtech, told BusinessLine.

Robust placements

IIM Calcutta, which recently completed the final placement process for the 58th batch of its flagship 2-year MBA programme, saw a three per cent rise in average yearly salary and close to nine per cent rise in median salary offered to the candidates this year. The institute secured close to 573 offers for the entire batch of 2021-23. Students received average yearly compensation of ₹35.07 lakh this year as against ₹34.20 lakh last year.

The lateral and final placements for the PGP and PGP-BA Class of 2021-23 of IIM Bangalore saw 606 offers, leading to all 512 students who appeared for placements being placed over two interview days.

According to Professor Debolina Dutta, Chairperson, Career Development Services, IIMB, students received offers from reputed companies despite a slowdown in the market. The institute also witnessed the participation of companies from overseas locations like Europe, Dubai and Singapore.

IIM Ahmedabad, which completed its final placement process 2023, saw firms from multiple domains participating across the three clusters. The second cluster comprised of five cohorts including conglomerates, consumer goods & durables, consumer services, pharma & healthcare and retail B2B & B2C while third cluster included 8 cohorts- analytics & IT consulting, BFSI, consumer tech, core manufacturing & infrastructure, enterprise tech, education tech, logistics, and government enterprises. The institute is yet to release its final placement report.

Consulting, finance and product management were some of the key sectors hiring in big numbers across most of the institutes.

Pay package

IIM Udaipur registered 14 per cent rise in the average CTC and 16 per cent increase in the Median. The highest CTC stood at ₹36 lakh per annum and the top 25 per cent of the batch got an average CTC of ₹28 lakh and the top 50 per cent bagged an average of ₹24 lakh. The average CTC of the whole batch stood at ₹20.3 lakh.

The PGP Class of 2023 at the Indian School of Business (ISB) saw recruiters across sectors hiring in large numbers. Despite the global economic uncertainty and the predicted slowdown, 222 recruiting companies made 1,578 offers to students, according to information available on the institute’s website. The average annual accepted CTC stood at ₹34.21 lakh – a 2.5 times increase from the average pre-ISB CTC of Rs 13.39 lakhs.

“The Indian market is steadily improving across the board and the non-IT sectors are hiring and that is a good sign. We are insulated to an extent possible,” Nirupama VG, Founder & MD, AdAstra, said.

Bullish on hiring freshers

Hiring intent for freshers has marginally improved to 62 per cent for the current half year (January–June, 2023) – a three per cent increase over the July–December 2022 half year. The hiring intent across all categories of jobseekers in India – fresh or with experience – has risen to 68 per cent from 61 per cent over the same duration. This steady growth in the job market will create enormous opportunities for freshers, said the TeamLease EdTech Career Outlook Report released recently.         

“We have seen that companies want to go back to basics and hire freshers and train them on jobs as that gives better return on investment to them and it is sustainable in the long term. And hence even though amidst all the news of layoffs that we have been hearing, we still have 67 per cent of the employers who say they want to hire freshers. So the hiring sentiments for freshers are still bullish,” Rooj said.