Speaking on the launch of the report, K. Pandia Rajan, Chairman – Ma Foi Group & Chairman – CIEL HR Services said, “In today’s dynamic business environment, organisations have to continuously course-correct their talent strategies to attract and retain top talent. CIELWorks attempts to provide ready access to the insights about the talent market in our country. I hope the findings of this survey will help companies to make the right decisions regarding their talent strategy.”
According to the survey, online professional networks and social media are the most effective tools in Employer Branding. 39 percent of the respondents see online professional networks to be the most effective channel for building the employer brand. Social networking media got 24 percent of the votes. Interestingly, nearly half the respondents did not deploy any such methods into practice.
Hike in Salary is still the most important factor of negotiation while accepting an offer across levels. 67 percent of the respondents felt that for the entry level jobs salary hike is the most important factor, for Mid-Level jobs, it is similarly, a very high number at 41 percent designation is the second-most important factor (30 percent). And for Senior roles, there are a few equally significant factors: designation (18 percent), variable pay (17 percent) and benefits (14 percent).
Commenting on the findings, Aditya Narayana Mishra, CEO, CIEL HR Services said, “As our economy picks up, the competition for talent will accentuate. CIELWorks has found the top factors impacting talent acquisition, on boarding and employer branding in an objective manner. In light of these findings, the organizations can review their efforts of employer branding and their employee value proposition. The survey shows big data and analytics is becoming a trend amongst corporate for better candidate-job match”.
Talent acquisition
Compensation and Competing Offers are the major hurdles in attracting the best talent.
For mid and senior level hiring, there are other variables which are significant: job security, financial health, long term vision and title.
Mobility drivers across levels are different: at mid-level, it is career progression and compensation while for senior level, it’s company performance and values of the firm.
On boarding
Recruitment firms are the best sources to find talent at senior level. Employee Referral is a powerful method across all levels. For mid-level hiring, Linkedin works well while for Entry level hiring, Job portals and Company website work the best.
On boarding Time: 120 days for senior roles, 45-60 days for mid-level, <45 days for entry level roles.
While recruiting for Mid and Senior level roles, percent hike over current salary is 20 percent -30 percent.
Salary hikes are the most important while accepting an offer at entry level. Designation is the other significant aspect for offer negotiation at Mid-level. Variable Pay and Job role and Salary hike are the Top 3 factors of negotiation at senior level.
