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/

Recruitment process becoming fun with ‘Gamification’: Experts

Recruitment process is evolving from interviews and group discussions to a process of using game mechanics, that makes the entire process fun and engaging helping employers find the right candidate, experts say.

“Specifically in the recruitment process, companies have started using coding marathons, hacking events, complex problem solving against time, solving cryptic puzzles as part of their recruitment process,” TeamLease Services Business Head, IT, Stanley Deepak told PTI here.

He said, this helps them assess the engagement levels of the candidate towards their respective organisation, assess the competitive streak of the prospective employee to succeed, how well they work under pressure, how well do candidates align themselves to think out of the box and provide solutions to different scenarios.

Gamification as a concept started in Britain in 2002, but gained popularity only in 2010.

While Gamification was and is being used widely only in marketing and brand building, in 2012, companies began looking at this as a concept to identify engagement levels of employees within the organisation.

“Not sure when this was adopted in India but captive MNCs or product startups have been using certain aspects of Gamification as a process of identifying talent, as one of the elimination process in the recruitment cycle, introducing the organisation to the new employee, selling the role and the company to a prospective candidate,” Deepak added.

This is mainly used by the IT and hospitality sector for recruitment across all levels, however, it can be extended to all industry segments. It’s a question of adapting and embracing this as a facilitator for recruitment, he opined.

Going forward, he said, Gamification as a tool can be used more effectively across various HR functions like to assess training needs of employees, better employee utilisation based on their skills and capability, to minimise offer drop out of prospective candidates among others.

Echoing a similar view, CIEL HR Services CEO Aditya Narayan Mishra said, Gamification is a tool is being used in the last three years in a significant way by IT and technology companies have in the recent past, especially for entry and mid-level roles.

5 Ways To Challenge Yourself At The Workplace

5 Ways To Challenge Yourself At The Workplace

In a rapidly changing work environment, it becomes essential to keep up.
Almost every industry is in the middle of a major upheaval with skills being redefined in new ways,
and employees — no matter which sector they work in — should be prepared to face any kind of situation.
The best way to achieve this is by continuing to challenge oneself at the workplace.

ET has tips from the experts on how to move outside your comfort zone.

1. Start Small

The best way is to start with small steps and put yourself in uncomfortable situations.
“You could volunteer to do something you have not done before, or even try to lead a small initiative within your team.
Make yourself accountable to such results and constantly track these at the end of set time periods to reflect on the progress,”
said Vipul Singh, head of human resources and communications, ADP.

2. Work In A Different Team
Volunteering to work with a different department or team can be a good way not only to challenge yourself, but also get clarity on what it takes to be in that position.
“Most companies usually have initiatives where employees can spend some time in a different role, which helps them move forward towards career accomplishments.
This helps them understand new roles and challenges them to grow within these roles,”

said Singh.

3. Update Your Skills
Introspecting on your existing skillset is important in order to judge your strengths and weaknesses.
“While there are numerous professional courses to learn new skills, it is also a good idea to develop skills which may not be strictly relevant to the current job,”
said Partha Neog, cofounder, Vantage Circle.
“This will help in developing a fuller understanding of how things work and inspire you to develop better relationships across the company.”

4. Move Beyond Organisational Help
While most companies do have initiatives and programmes in place to help employees learn and do new things,
it’s essential to take ownership for your career path and move beyond just limiting yourselfto these.
“MOOCs (massive open online courses) have democratised learning and you can enrol in a few to pick up some new competencies.
Be sure to allocate regular time for such activities and look at new ways of approaching tasks,”
said Anil Jalali, chief HR officer at Capgemini India.

5. Learn From Failure
Every once in a while, when you attempt something new, you may fail.
“It is important to pick yourself up from failures and learn from them.
Don’t be afraid to experiment, don’t be afraid to learn from setbacks and use those lessons as stepping stones for the future,” said Jalali.
Source from::
http://economictimes.indiatimes.com/articleshow/57622209.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst