No resume, no interview, no biases: Will this new hiring concept catch on?

Blind hiring is slowly making its way into the Indian recruitment market, where an applicant will be hired solely on the basis of analytical tests online.

By M Saraswathy

Consider this. You apply for a vacancy at a technology company and complete a series of online tests before being hired. No resume. No interview.

It’s a concept called blind hiring and is slowly making its way into the Indian recruitment market. An applicant will be hired on the basis of analytical tests to assess their competence and all that matters is a candidate’s suitability for a particular role, said Aditya Narayan Mishra, Chief Executive Officer of CIEL HR Services.

It could even be seen as a way to promote diversity in the workplace as the method rules out discrimination on the basis of religion, gender, race or qualifications.

Human resource experts say that no matter how rational an interviewer is, biases often creep into the recruitment process. In the engineering sector, women are often overlooked for particular roles.

At some companies, married women are not preferred in anticipation of a pregnancy and the maternity leave that will follow.

Blind hiring seeks to negate these biases and view all candidates through the same lens. The interviewer does not meet the candidates and their details are not disclosed.

“They are put through multiple aptitude tests and are hired based on their capabilities,” Mishra said. “You do not see where they worked and the degrees they possess.”

He said that such hiring practices are suitable for startups and new-age companies which hire for niche roles, adding that it is still early days for the concept.

It may be a while before this concept catches on at larger organisations, but HR outsourcing firms have already received requests from several Bangalore-headquartered startups to help build the ecosystem for blind hiring.

Companies are also seeing a cost advantage in being able to hire the right candidate in quicker time without having to spend time and money on travel.

Source From: http://www.moneycontrol.com/news/business/economy/no-resume-no-interview-no-biases-will-this-new-hiring-concept-catch-on-2248387.html

 

Motilal Oswal Financial Services takes HR processes digital

Motilal Oswal Financial Services takes HR processes digital

Motilal Oswal Financial ServicesBSE 4.10 % is doing a complete revamp of its human resource processes through the use of digital and technology.

This includes a mobile app which enables employees to mark their attendance through cell phones by switching on their location or apply for leave or regularise attendance; using digital to move to a paperless office; introducing virtual learning classroom for staff; and using hiring analytics for improve candidate experience.

“Technology has become business itself and hence it is imperative to transform processes through the use of digital and technology while driving the business,” said Motilal Oswal, chairman and managing director, Motilal Oswal Financial Services.

“Our employees often used to be disgruntled about the attendance procedure and used to be stuck in the early morning queues outside the lift. So we launched a mobile app which enables our employees to mark their attendance via their cell phones by switching on their location,” said Sudhir Dhar, director HR at Motilal Oswal. The app also allows them to wish their colleagues on their birthdays or anniversaries, apply for leave and regularise their attendance.

Source From:
http://economictimes.indiatimes.com/articleshow/57135594.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

HR function has moved from being a black box to Glassdoor era: Jairo Fernandez

HR function has moved from being a black box to Glass door era:

Human resources teams need to adapt fast to the radical changes wrought by technology across industries in order to add real value to organisations, said Jairo Fernandez , senior vice president-HR at SAP for Asia-Pacific and Japan. In an interview to ET’s Varuni Khosla , he said HR will have to increasingly tap into a growing pool of talent that does not want to be employed full-time. Edited excerpts:

What is the state of human resources function in organisations globally, at present?
Every single industry is disrupted right now. The impact of technology in the last two years across industries has been radical. That’s completely changing the landscape of things — for instance, self-driven cars. There is a sentiment that the market is not finding real value in what HR does. HR, in many organisations globally, was not thinking strategically enough to add real value to the organisation.

How is technology likely to change HR as we have known it?
The use of technology has created a completely different challenge and opportunity, and HR has to be attuned to it. HR was earlier a repository of confidential information but now, with technology, so much employee-related information is generated and put on the cloud.

From a time when there was no information available, I think the HR function has moved from being a black box to the ‘Glassdoor era’. This has created the ‘naked organisation’ because companies are totally exposed on websites like Glassdoor for future employees to see.

How will the change in HR impact the future workforce?
The talent in the future will include payroll employees, workers and the external talent as well, and this is dynamic. A payroll employee may navigate to the external market. But a company must be made worth coming back to for that worker, whether they want to come back as a payroll worker or external talent. There are not enough people in the market who want to come and work full time. Millennials, for instance, need to be flexible enough in terms of not just time but also the projects they choose. Around the world, 30 per cent of the workforce is contingent, which isn’t employed with companies but works on a freelance basis. Going forward, this will change and nearly 40 per cent of the workforce will become contingent.

Why does a company need to tap into a contingent worker?
HR is the business of talent by definition. HR is motivating only payroll employees, but then HR is leaving nearly half of the future workforce out of this process and that’s going to be the make or break, or success or failure of the future.

HR needs to take into account the talent pool out there and attract them years in advance, even though they are external. In the future, companies will have to be a little less concerned about turnover but must become home for future internal or external employees.

The year 2017 belongs to HR data experts

The year 2017 belongs to HR data experts

Human resources departments around the world will experience profound shifts during the next few years, and it’s all being driven by a single factor — data.

Just as data and the insights it provides has changed many areas of business, it will change the way organisations recruit and manage their staff. The potential benefits for those who get it right are massive.

As we enter 2017 with the knowledge that HR must be able to show credible data relating to factors such as productivity, engagement, and performance.

Let’s check out three critical elements that will feature in your journey as HR Data Ninja:

Data-driven recruitment and management
Rather than using job descriptions, HR departments will increasingly focus their recruitment activity on staff profiles. These profiles will be based on high-performing people already within the organisation. What qualifications do they have? What experience do they bring? What personality traits do they possess?

A new data-driven approach will be taken for staff management too. Rather than promoting people on personal intuition or pressure from managers, decisions will be based on data gathered about their actual performance. Who has consistently met sales forecasts? Who has suggested productivity changes? Who is outperforming?

Such data will be constantly gathered and used to ensure decisions are based on solid evidence rather than intuition or personal opinion.

Looking into the crystal ball: Predictive analytics take charge for performance management
Ultimately, businesses want more productive employees. In an age where every dollar is important, raising employees’ productivity allows you to get more output for the same investment to drive your business forward.

In order to really utilize their employees’ best skills, businesses will look at their workers’ behavior more closely. Are they engaged? Are they happy? What interests them to stay involved within the company? We will see that cloud-based systems will take talent and succession-planning data, to help predict and make intelligent next-role recommendations and connect employees with mentors to help prepare them for that particular role.

Analytics can answer questions you might have thought previously impossible. Predictive analytics not only leads to the source of the breakdown, but also provides forward-looking insights that illustrate how an issue or employee may evolve.

Scouting the players: Businesses will get in the competitor game by identifying with consumers

In 2017, chief human resource officers (CHROs) will recognize that modern, intuitive application user interfaces and consumer friendly applications matter more than ever in the year ahead. While you can put a price on the cost it takes to integrate user experience into your solutions, the value gained from providing a simple, intuitive interface is unquantifiable. This is why many CHROs are looking for ways to create quality experiences that will delight instead of frustrate employees. \

Digital solutions are your gateway to collecting and analysing quality data. So, through the information gleaned from your digital HCM software, businesses will be able to determine how to best align talent strategies to business objectives and remain a top competitor in the workplace.

2017 is going to be an exciting, change-filled year. Through embracing the opportunities of data and analytics, the HR department of 2017 and beyond will become an even more vital resource for successful organisations. Here’s to 2017, Data Ninjas!

By Yazad Dalal

The writer is Head of HCM Cloud Applications, Oracle Asia Pacific

What Candidates Want: Korn Ferry Futurestep Survey Highlights

What Candidates Want: Korn Ferry Futurestep Survey Highlights

–Five Years Ago, Benefits were Top, Today it’s Culture and Tomorrow it’s Flexibility
-Study Points to Fiercely Competitive Fight for Talent
-Most Difficult Job Roles to Fill Vary by Region

A new global study by the Futurestep division of Korn Ferry highlights the intense competition companies are facing to find qualified candidates, and gives insight into the shifting top priorities of those candidates.

In part one of Talent Forecast, Futurestep’s global survey of more than 1,100 hiring professionals, 54 percent said it’s harder to find qualified talent compared to just one year ago. The same study found that identifying people with the right skills in a rapidly changing market is the top business issue impacting recruitment. Respondents also cited rapid business growth, millennial expectations and economic uncertainty as key reasons the right talent is difficult to find.

“Candidates with niche and specialized skill sets will become increasingly sought after as 2017 unfolds, and knowing how to gain and hold their attention should be one of the biggest priorities for talent acquisition professionals,” said Jeanne MacDonald, Futurestep global operating executive and president, Talent Acquisition Solutions.

Changing Priorities in the Workforce

Today: Culture
The No. 1 reason candidates choose one job over another today is “company culture,” Futurestep survey respondents said.
“Millennials are absolutely looking for culture and fit. They want to feel good about where they’re working and require a shared sense of purpose,” said MacDonald. “Gen Xers, on other hand, are more interested in taking their skill sets to a place where they can make an impact. Organizations with a culture of acknowledging that impact have a greater chance of retaining top talent of that generation.”

5 Years Ago: Benefits
When asked what the top reason was candidates chose a company 5 years ago, respondents cited “benefits packages.”
“Five years ago, the world was still reeling from the Great Recession, mass layoffs, and all-around jitters,” said William Sebra, global operating executive, Futurestep. “It only makes sense that candidates felt the need for a stable paycheck plus healthcare and retirement benefits. Today, workers are generally moving beyond basic needs to different priorities.”

5 Years from Now: Flexibility
When asked what would be the No. 1 reason a candidate would choose one job over another five years from now, the highest percentage of respondents chose “flexible working.”
According to MacDonald, a flexible environment – from working remotely to flex hours is becoming common across many industries. In addition, businesses are seeing changes due to the rise of the contingent professional workforce, or “gig economy.”
“Instead of looking for full-time employment, talented, high-demand people will take contingent assignments where they can showcase their unique skills and talents, then complete the project and move to the next gig.”
Seventy-three percent of survey respondents reported that they use a contingent workforce on either a regular or as-needed basis.

The Hardest Roles to Fill Vary Depending on Region
While respondents say that overall it’s harder to find qualified talent than it was just one year ago, the most sought-after candidate roles vary by region:

  • North America: Nearly one quarter (24 percent) of respondents in this region said that information technology (IT) vacancies are most difficult to fill, followed by engineering at 17 percent and operations at 14 percent.
  • EMEA: The most difficult role to fill in this region is sales (22 percent), followed by engineering at 18 percent and IT at 14 percent
  • APAC: In this region, research and development (R &D) and sales tied at 22 percent for being the hardest role to fill, and operations and engineering tied at 13 percent.
  • Latin America: Respondents said the most sought-after candidates are working in IT (23 percent) followed by sales at 17 percent and operations at 12 percent.

“No matter the region or position for which candidates are being sought, the stakes are high,” said Sebra. “Organizations that attract the best talent will be best-positioned to achieve their goals and succeed in today’s challenging and fast-changing business environment.”

About the Study/Report
Talent Forecast is a three-part global series by Futurestep. It contains survey data from responses garnered during a global survey of more than 1,100 talent acquisition and human resource professionals across several industries. The study was conducted in the autumn of 2016.

Source from:

http://www.futurestep.com/news/what-candidates-want-korn-ferry-futurestep-survey-highlights/

Gold Prices

Gold prices today cracked below the Rs 29,000-mark by plunging Rs 150 to Rs 28,900 per 10 grams, taking a hit from sluggish trend overseas and fall in demand from local jewellers.

Silver also fell by Rs 180 to Rs 40,800 per kg due to reduced offtake by industrial units and coin makers.

Traders said demand weakness brought on by the end of wedding season at the domestic spot market kept up the heat.

Globally, gold fell by 0.22 per cent to $ 1,201.10 an ounce and silver by 0.35 per cent to USD 16.89 an ounce in Singapore.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 150 each to Rs 28,900 and Rs 28,750 per 10 grams, respectively. The precious metals had gained Rs 200 on Saturday. The market was shut yesterday on account of Holi.

Sovereign, however, moved up by Rs 100 to Rs 24,400 per piece of eight grams in scattered deals.

Following gold, silver ready declined by Rs 180 to Rs 40,800 per kg and weekly—based delivery traded lower by a similar margin to Rs 40,350 per kg.

Silver coins too plummeted by Rs 1,000 to Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.

http://www.thehindu.com/business/markets/gold-gets-a-demand-jolt-slips-rs-150-to-below-rs-29000/article17461135.ece