While talent across India are most concerned with career development opportunities, over half of employers continue to face a talent shortage due to candidates lacking the necessary work experience and skills, according to a new report released by RGF International Recruitment
NEW DELHI: India’s distributed workforce may be a result of the COVID-19 restrictions, but employers are keen to maintain these flexible working arrangements even beyond the pandemic. Although remote working arrangements were previously not as widely popular in India, 93% of employers have since embraced the option, and 61% intend to continue with them, ahead of Indonesia (47%), Vietnam (55%) and Greater China (47%).
This is according to RGF International Recruitment’s latest Talent in Asia 2020 report, which is based on a comprehensive analysis of over 4,600 survey responses about hiring trends across 11 Asian countries and markets. The aim of this research was to better understand the needs, demands and expectations of both candidates and employers in Asia.
Employers in India are also quickly adopting digital solutions to overcome telecommuting limitations, with 63% doing more frequent video calls to keep staff motivated, and 48% of companies choosing to accelerate online interviews.
Remote working options have not seen a huge decrease in productivity, with only 14% of employers reporting less than 50% productivity, while 14% have reported higher than usual productivity rates. These numbers are good news for companies that plan to continue flexible work arrangements, and also for employees in India who consider flexible working hours (66%) and remote working (65%) to be the two most important factors for work-life balance.
However, work-life balance comes in at fourth place as an overall motivating factor when employees are looking for a job, with opportunities for career advancement being the most crucial driving factor to 50%. This is a significant difference from 2019, where salary & compensation came out on top (64%). This is especially prominent amongst Gen Z and Gen Y employees, where 55% voted it the top factor, compared to their Gen X and Baby Boomer colleagues (43%). Unsurprisingly then, the number one reason cited by Gen Z and Gen Y employees for a change of job is wanting to expand their knowledge and skills (27%), which came in second place for Gen X & Baby Boomers (24%).
Of course, competitive compensation is still a large motivator for changing jobs. In fact, 47% of employees considered it part of their top three reasons to consider a new employer – but employers should note that the average expectation of a pay rise across India has risen significantly in the last year, from 21% in 2019 to 38% in 2020.
For the 87% of Indian employees who indicated a keenness to change jobs in the next 12 months, take note: the top hard skill Indian employers are looking for is industry knowledge and experience (76%), while the top soft skill identified is accountability and responsibility (29%). This is especially noteworthy as only 22% of employees considered accountability and responsibility to be their strongest soft skill.
Nonetheless, as the COVID-19 pandemic continues to evolve, new soft skills already on the radar may become increasingly relevant to employers, including being a good team player (28%), innovation and creativity (22%) and adaptability and flexibility (19%). The lack of such candidates with necessary work experience, skills and knowledge is the top reason (65%) given for the talent shortage faced by 52% of employers in India.
Besides talent shortage, employers struggle with building a strong employer brand (39%) and also a more capable HR and talent acquisition team (33%). About a third (31%) of employers also find company culture mismatch to be a hiring challenge.
With the COVID-19 pandemic bringing the importance of future-proofing employees to the fore, employers in India are embracing the need to build an informed, adaptable workforce. In addition to providing more frequent and clear communication on business strategy (70%), they are also investing in enriching employee engagement programmes (37%), internal and external training (36%), and technology to improve processes and efficiencies (36%).
“COVID-19 brought a huge disruption to the Indian workforce, but it also brings a great opportunity. Companies keeping pace with the fast-changing digital world have leveraged their distributed workforces to experiment with new approaches to communication and productivity. How companies pivot and manage work structure in the post-pandemic period will be instrumental in establishing a strong employer brand to remain attractive to new talent,” said Sachin Kulshrestha, Managing Director, RGF Professional Recruitment India.
Other key findings from the Talent in Asia report include: 98% of employers surveyed in May 2020 across Asia indicated their business operations have been impacted by COVID-19 94% of companies in Asia have adopted flexible work; 60% are planning to maintain these arrangements beyond the pandemic 69% of employers in Asia say more frequent and clear communication on the business is key to future-proofing employees 50% of employees in Asia say their biggest motivator when switching job is career advancement opportunities Please click here to download your copy of the Talent in Asia report.
About Talent in Asia 2020 RGF International Recruitment’s Talent in Asia report has been conducted with the aim of better understanding the needs, demands and expectations of both candidates and employers across a wide range of Asia markets and industry sectors. Talent in Asia is a comprehensive analysis of broad industry and country hiring trends across 11 countries and markets in Asia: Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, India, Mainland China, Japan, Hong Kong and Taiwan. The report is based on RGF-owned data compiled via a targeted survey completed in March 2020, which gathered responses from more than 4,600 job seekers and candidates across all markets and 10 industry sectors.
In addition, RGF International Recruitment conducted a second survey between April and May 2020 where they queried employers about the impact and direct effects of COVID-19 on their business and sentiment, as well as delving into how employers are changing their business and the way they communicate and support employees during this time.
About RGF International Recruitment RGF (Recruit Global Family) is the global brand of Recruit Group, which is one of the world’s largest recruitment and information services firms with 2.39 trillion yen ( 22.5 billion USD) annual revenue. Founded in 1960, the Recruit Group creates and provides platforms that connect companies and consumers by offering Opportunities for Life. RGF International Recruitment, under the Recruit Group, provides a wide range of recruitment solutions across more than 30 offices in Asia. We deliver optimal, cross-border recruitment solutions at all levels and across all industries and functions, transcending national and city boundaries through our three service brands, with the aim of unleashing the potential of individual talents and employers in Asia.
Our brands and services include RGF Executive Search, RGF Professional Recruitment, and RGF HR Agent. Bo Le` Associates, which provides executive search services primarily in Greater China, is part of the RGF Executive Search brand. Find out more: www.rgf-hr.com