Times group Annual Recruitment Report

Inputs for RecruiteX Bi_Annual Recruitment Report (The Times Group)

Inputs for RecruiteX Bi_Annual Recruitment Report (The Times Group)

By

Dr. Siddhartha Pandey

Chief People Officer (Group Head HR)

Bhushan Power & Steel Limited.

Email: siddharthapan@gmail.com ;siddharthapandey@bpsl.net .

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What will be the top recruitment trends in 2014 in your industry? What will be the new-game changers in recruiting?

Recruitment in 2014 shall be expensive as employment rates has risen in many sectors like, technical, healthcare, marketing etc. There is not much talent pool to hire so to attract good talent organizations has to be prepared to spend more. The overall strategy of recruitment has to change. Organizations has to promote themselves more as a good brand to attract good talents than reaching out to them as recruiter . Even mobile devices are being used to a great extent by job seekers so it should be ensured that applicant should be able to read and apply easily. New game changers are marketing on organizational brands promotions, recruitment through mobile devices and talent targeting.

What is the future outlook for compensation trends in your industry?

In Steel sector increments is expected to be about 11.2% in the coming year. The median increment for this sector is 11.2%, which is at par with the average increment ranges across levels for this sector are quite narrow, ranging from 9.3% to 15.9% Top Management median level increments are expected to be around 12.8% which is the third highest increment across infrastructure sector as India is a developing country.

What will top/highest paid jobs in your industry?

One of the fine professions in Indian market is in the Aviation Industry. Lot of small airline companies has come in the market bringing in economic flights which in turn has increased the lot of frequent flyers. Since 90s this industry has got a major face lift. Best high paying job in this industry is the position of Pilot and Flight Engineers. There are other avenues also in the same industry for good paying jobs. Secondly Medicine is the industry where there are high paid jobs. This is one sector which irrespective of the economic situation of the country need shall always persist wherein people shall need medical help. Earnings here totally depend on the kind of practice that is being done being it in Private Hospital, Government Hospital, Private Clinic or Private Practice. Management is also a division in corporate sector wherein pay scales are sky high. There are lot of eminent management institutes wherein management graduates gets offers up to 7 Lakh per annum at a fresher level. We can say sky is the limit for this sector as these executes not only preserves companies’ secrets and safeguards companies’ interest.

Since 90s IT sector is one industry that has never faced a drastic drop down in operations. An employee joining at an entry level grows up the ladder very fast to a level of Team leader or Project Leader and reach higher executives role in no time. Giant IT organizations like Google pay their entry level executives from 5 Lakh to 7 Lakh per annum.

Lastly the booming sector is to work as a Chartered Accountant. Previously the scenario was CA professionals were doing his operation s from a CA Firm. But in the present scenario has totally changed wherein lot of private sector industries are hiring Chartered Accountants in strategic positions for doing future forecasts , decision of company’s investments etc. Even the exams for cracking CA are considered one of the toughest exams in India.

Steel and metal has to improve. Governance has to be there with less government clearance and policy issue.

What are the key challenges that every HR head/Business Head in your industry should have on top of their workforce agenda in 2014?

Challenges that are faced by HR Heads are aligning HR as a partner with other functions of business. HR has to ensure to onboard the right talent, retaining the talent and if required retraining and restructuring. However in scenario of IT Companies it is much easier as because of their key trait of flexibility and there is always up gradation in technology with changing needs. Now work does not end with on boarding the right talent HR has to ensure the performance output from employees and a performance is culture is maintained within the organization. HR has to also identify training needs within the organization and conduct training programs wherever necessary so as to ensure employees are ready to face all sorts of challenges or tough phase of the organization.

 Are there new skill sets that will emerge in 2014(owing to new technology/market forces) that you would like entrants in your industry to be trained/ready for?

With technology advancing at a drastic momentum it is reducing barriers to newcomers or new business ideas coming into the market. This is a big threat to existing and stable markets. Even emerging companies with small capital can easily obtain operating infrastructure and capture market which traditional companies took lot of time to build. To sustain in the same existing companies should adapt to the needs of present market of internet trade and multiple business models. Leaders have to strike a balance and adapt new technologies. They should be thoughtful about risks’ and should manage the risks without roasting their potential.

What is the biggest USP of your industry (work hours, work life balance, salary) that you would like candidates to know about?

In Steel Sector work pressure is immense and sometimes the working hours increases and work life balance hampers. In the other hand the payout is lucrative and the learning process is very high. So aspirants whom are aspiring for growth and good learning experience can compromise on the other aspects of working hours and work life balance. We are directly building the nation by providing the proper infrastructure. However we have to take care of our resources as employees are ultimately the back bone of the company.