A new year brings with it, a renewed hope and vigour. It’s the right time to channel these energies positively into your business by reviewing and setting goals for your business.
At the onset, do take a moment to appreciate all that good happened in your business- financial, social standing, success stories, new technology/ infrastructure, office expansion, working with clients who put a smile on your face.
Springboard from these moments and launch into what 2019 should look like for you?
Consider from various perspectives, what you want to review in March 2019- begin with the end in mind. Here are some points for you to get started:
- The first big one is your Financial Achievement: what would you like your profits and revenues to look like in 2019?
- What are the profit margins you want to see in your business, and what factors could contribute to it?
- Take a stock check on both costs in your business and the revenues earned-what are the factors which can be better controlled to deliver your intended profit margin?
- Take a thorough look at the Client Relationships you have- which needs to be nurtured, which needs to be pruned off?
- Clients who have shown mutual respect for the partnership, have been open and honest in communications, have listened to your advice and paid you on time- what can you do to strengthen such relationships in your business?
- Conversely, the set of clients who have not been kind to you, did not consult you and lost themselves a great candidate, those whose payments needs to be chased up on, identify them and prune them from your business?
- Who are the customers you want to work with, who are not clients yet? What initiatives will attract and encourage them to work with you?
- Stock check your Product Mix:
- Think back to last year, were there opportunities to offer a different product/service/solution, but you couldn’t for various reasons?
- Is the market looking for more diversified services? Do you spot a financial opportunity?
- Is your current product/service mix profitable? Do your salespeople know how to differentiate and sell these services?
- Consider the Marketing Initiatives, both online and offline which you want to initiate or strengthen this year?
- Basis the strategy you want to follow from points above, what marketing initiatives will complement your efforts?
- What marketing initiatives will form the core of your offline activities? How will you want to go about it?
- What online initiatives will resonate with your vision and mission and how do you want to be known in your market? What’s your niche? All marketing communication needs to diverge from this focal point? So, take a detailed view of this aspect of your business goal.
- What Technological Investments do you want to make this year for the business?
- Technology has pervaded almost all aspects of recruitment, it has helped in increasing productivity and process efficiency- what investments would you want to make this year regards this?
- What about the existing technology- is that enabler or disabler?
- Consider the People aspect of your business.
- This is the most critical success factor for your business- and must be considered from expansion, retention as well as letting of under-performance.
- Evaluate your business inside-out to find out both best practices and gaps when it comes to creating a performance driven culture.
- What are the current practices for hiring? Does it need change to reflect the performance-driven culture?
- What are the parameters on which individual performance is currently being evaluated? Is there a buy-in for it?
- Are expectations clearly communicated? Is everybody well trained to perform their jobs to the best of ability?
- What are the rewards, recognition and career advancement aspects of your business? Is everybody clear on how to achieve it?
- How is retrenchment on performance lag handled?
- Do keep an eye out on Macro Factors, usually outside the business control- these include major policy changes by Government, sectoral disruptions, upcoming general elections in the country.
- Though not in business control, what can you do to offset the possible disruptions- work out a contingency plan!
Being in any business is exciting, being in a recruitment business is even more so. So, get your thinking hats on and chart out the best year in your business.
Here’s to an inspirational, successful, rewarding, all things nice and bright 2019!!
Recruitment Process Outsourcing (RPO) first emerged in the 1990s and has gained remarkable traction in recent years to become a $4+ billion global industry today.
Yet, some organizations tend to hesitate to take that much needed RPO leap. They fear to transfer all or even a part of their recruitment process to an external service provider. There is a perception that RPO’s suit only certain organizations and industries. Hiring the best fits for your organization means you need to have the time and the expertise all the time. That’s what specialist service providers bring to the table.
Some of the main advantages to go RPO:
RPO’s also skilfully handle all menial tasks of the recruitment process. Sourcing is their core competency and they have the resources, technology and methodology to attract talent for you more efficiently and effectively. They know where to look and what to look for better than anyone else and make sure your organization is presented as you want it to be.
A rigorous screening process ensures matching of skills, motivation and culture fitment. An RPO becomes your augmented talent brand representative reaching out to various communities continuously.
RPOs are dedicated to you and therefore accountable to meet your hiring plan. In addition to traditional recruitment skills that they provide you, they also bring a host of metrics and dashboards to help you monitor your recruitment process, costs and brand power and a flexible engine that can gear up or gear down depending upon business needs. Why build your own recruitment infrastructure when you can’t be 100% certain of your hiring plan in the next 1-5 years? You do not want to be saddled with higher fixed costs that cannot be deployed meaningfully all the time when you can access dedicated recruitment infra whenever you want with certainty
Cost management is a top priority for every organization, irrespective of size and industry and recruitment costs can add up before you realize. Costs are not just your in-house team but also job-sites, machines, travel, printing, communication, assessment tests, technology, etc. many of these remain fixed all the time. If you can get all of this done better a pay only for actual usage you would ultimately save costs and reduce your cost per hire (and if you are unable to measure this an RPO will ensure you can and control it)
Imagine having your own recruitment set-up that you can use leverage at any time for any skill for any location all the time? It will instil confidence with your business leaders to grow their business with any hesitation on talent availability. An RPO service provider brings talent intel right to your table – today’s and tomorrow’s. Talent leads your business and if you know where and how to tap this you will stay ahead.
An RPO engagement ensures you lock into the right talent at any time and be top of mind recall.
In the war for talent, accurate assessments of candidates and positive evaluations of interviewers are essential. Candidates who evaluate their interviewers more positively are more likely to accept a job offer. While modern technology has provided organizations with a slew of communication tools such as Skype, FaceTime and Google Hangouts that are used to recruit talent, nothing beats an in-person interaction, especially for the middle- and top-level jobs.
According to a study by Degroote School of Business at McMaster University in Ontario, applicants who were interviewed using video conferencing were less likely to get the job compared to the ones who underwent in-person interviews. Often, the resumes and the cover letters are written in a very formal manner, not providing much insight into the candidate’s personality. A personal Face-to-Face (F2F) interview is essential for gaining a good understanding of a candidate’s personality and motivation, which are key factors in predicting his or her success potential.
Video interviews are, of course, helpful when it comes to mass screening. They are particularly useful in assignments where a lot of the candidates, especially remote candidates, meet the basic requirements on paper and screening down to a few finalists would require a lot of interviews. But remember, as a recruiter you still have to go through all those videos to figure out the right candidate. Besides, a not-so-great internet connection can play havoc with the process. The candidates’ tech-savviness might also influence your impression even though it may not be directly related to the job, thus putting the candidate at a disadvantage. On the flip side, it puts less pressure on the candidates and allows them to communicate in a much more open fashion.
Besides, organizations don’t really save time with video interviews compared to telephone interviews or in-person interviews, except for the transportation time (on the candidate’s side). Another supposed benefit is that video interviews save recruiters the hassle as they help in sorting through the candidates faster. But, recruiters will still have to set apart time to listen and watch the interview videos. While recruiting for the middle or the top level, asking for a video interview can send a wrong signal to the candidates as it might mean that the company does not want to bother meeting people.
Additionally, it is also easy to become distracted whilst on video interviews and give the interviewer the wrong impressions. For example, the temptation to watch the little box at the bottom can give interviewer the impression that you lack confidence and sincerity. Looking into the camera will create the illusion of direct eye-contact, which is always a huge contributing factor in a F2F interview.
Video interviews are dehumanizing the interview process and while it may strike a chord with the millennial generation who have grown up with such applications, many mid and senior-level professionals still prefer the human touch. Cyberspace is a non-committed area of reality where you only have the facts and figures to guide you. People can be any kind of persona there and not show their true, authentic side. It works the other way too. When a candidate comes to your office, they too get an impression of you. How does the place look? Is the environment modern and clean? Does it look like it has a conducive atmosphere for reaching excellence? Bring in the candidates and give them the tour of the office, take them through multiple rounds and maybe a lunch. This would allow for multiple opinions on the candidate formed by various colleagues and provides a more wholesome picture about whether the candidate will be the right fit for the company.
F2F interviews allow for more in-depth data collection and comprehensive understanding and gives the interviewer more room to probe for explanation of responses. It allows the candidate to build a rapport with the interviewer, which will in turn help the latter pick up body language cues and facial expressions. This is more difficult in a video interview. An in-person interview is the best form of screening for the final decision-making round, particularly for the mid- and senior levels because as a recruiter you want the candidate to have the right culture fit. The DeGroote researchers found that candidates who were interviewed via video conferencing were rated lower by interviewers and were less likely to be recommended for hiring. Interestingly, even candidates rated their interviewers as less attractive, personable, trustworthy and competent.
F2F also makes it easier for the candidate to seek more answers to their queries or clarify questions that seemed confusing. Interviewers are able to connect with the candidates and show more empathy. When the candidates feel understood, they let their guard down, open up and share emotions.
One of the oldest forms of market research, F2F still holds good in this age of advanced technologies simply because there are inherent aspects, features and possibilities in a F2F interview that cannot be captured or replicated by any other method. That is why it is vital the talent acquisition function doesn’t lose the human touch. Recruitment, after all, is about finding the right person for the job who will be dependent on human relationships and intuition. At Antal International, we believe that enjoying the best of both worlds is key to successful talent acquisition.
While India has seen women in leadership positions in politics and industries like finance, the tech sector can’t say the same. As software increasingly becomes pervasive in our lives, it’s important more than ever for builders to be representative of the people being impacted. Women are equal users of technology and yet they do not equally participate in its development.
For example, more women are seen at entry-level jobs than at senior roles than their male counterparts and also make less than them. In fact, Only 5% of leadership positions in the technology industry are held by women. More than 70% of starts-ups have no women on their Board of Directors. Even women tech entrepreneurs receive 50% less VC funding.
There are many reasons for this state of affairs. They could range from women taking a break from their career owing to family, marriage or other personal commitments. However, increasingly we are seeing more women dropping out of the tech workforce due to fewer/or lack of opportunities. A World Economic Forum research estimates that 57% of the jobs set to be displaced by technology between now and 2026 belong to women.
Plus, there are also the inherent societal biases and influences that stop women from pursuing a STEM career, which in turn affects any tech company’s ability to build a good pipeline of women leaders. The lack of women in senior positions results in the lack of role models for women to look up to. A recent Harvard Business Review study proved that women have to fight the implicit bias at the workplace, which stopped them from being given promotions. Earlier research has shown that while men are perceived to be more responsible when they have children, women are seen as being less committed to work.
So, what can be done? Joseph Devasia, Managing Director of Antal International, says, “With women taking more of the burden at home and juggling demanding careers, it is important for organisations to have flexibility that allows women to continue working. There is a myth that lesser number of hours worked would result in lower productivity. However, those who work flexi-hours actually are more efficient in those fewer hours. Companies have to look at this new way of engaging women colleagues, if they need the talent necessary to grow.”
Tech companies, especially organizations with a strong following, a wide reach and high-profile leadership, need to do a lot more to fix the skewed gender ratio. They need to normalise the idea of women in tech. For that, there needs to be a multi-pronged approach to the problem. Just attracting more women to write code won’t help. Companies need to approach gender inequality as they would any other business problem: Use hard data and stop depending on anecdotal surveys. Only then they can move from debating the causes of gender inequality and move towards finding a lasting solution.
Whether it is a high profile tech company like Infosys or Wipro or an established conglomerate like the Tatas, companies are having a hard time to keep the best and the brightest in the house. With millennial employees willing to relocate for a better job, HR has its job cut out. A recent survey found that young adults under the age of 35, senior executives, business owners, and unmarried adults are likely to consider relocation.
But, organizations need to evaluate how they can balance their relocation incentives with employee desires in order to fill key skill gaps. A failed relocation assignment doesn’t do anyone any good. It’s expensive and disruptive. And what might have started out as a positive experience could lead to a very unhappy employee or the loss of an employee.
HR needs to look beyond financial incentives to entice employees to relocate, underlining the need for companies to include alternatives in their relocation programs. Here are some of the factors to keep in mind while wooing outstation candidates:
Salary: When candidates consider relocation, they are not just looking for a hike in their salary. There will be compensation differences between cities depending on their Cost of Living Index. They become more pronounced when the candidate has to make the move from a Tier-II to Tier-I city, especially if they own a house where they live in. The double whammy of home loan EMIs and rent can take a toll and therefore these factors play a role in the candidate’s decision to join a company. It is important that the HR considers these important factors before they provide a salary offer: Cost of living differences, quality of living standards, benefits in new location etc. Show that you are willing to negotiate the salary, while emphasizing the company’s benefits and other perks such as flexible working hours, transportation facilities, training and development opportunities and paid time off.
Relocation Assistance: Moving homes especially to a new city is not an easy task especially when you have a family, children or your elderly parents living with you. One of the first things that a candidate who’s looking to move to another city will seek is relocation assistance. They will expect the company to cover expenses such as packing and moving, storage of belongings for a period of time, short-term lodging in the destination city, cost of moving vehicle, finding a home in the destination city etc. Keep these factors in mind while designing the relocation assistance. If your company does not provide relocation assistance, you could consider offering candidates a one-time joining bonus to take care of such expenses. You may also help them find a home quickly in the new city by introducing them to property dealers/agents etc. Moving to a new city isn’t easy and the relocation package will provide the candidate everything they need to know about the company’s culture.
Spousal Income: Organizations hoping to encourage employees to accept outstation assignments should consider an individual’s personal and professional situations from a holistic perspective. There will be a disruption in the household income level and also a discontinuity in the spouse’s career due to the relocation over a period of time. Spousal dissatisfaction, adjustment, and issues associated with his/her career development are the most common reasons for relocation failure. While no company has contractual obligation to provide spousal income, he/she plays an important role in the success of that job. Hence, it is in the company’s best interests that the HR addresses the spousal income issue. You can help by providing job search assistance, or introduce them to other employees who made the move as well; the new connections could help them find a job quicker. Put them in touch with networking resources or organize events and activities to make them feel more involved.
Provide Cost of Living Context: Cost of living is the amount of money it takes to sustain a certain level of living, including basic expenses for goods and services such as housing, transportation, food, clothing and household goods. We would recommend that the HR factors in the cost of living into the salary for the said location, before offering any kind of compensation. HR needs to gather data on housing, transportation, healthcare, groceries, utilities etc. and use that data to adjust the salary’s purchasing power as the cost of living differs from city to city. Remember, the candidate will look to at least match their current standard of living with the new salary and will want their compensation to adequately cover all the expenses in the new city.
Family Structure: Most relocation packages are focused on the financial aspects of the move. However, other factors such as care for the elderly & children’s education also heavily influence a candidate. Family interests pose crucial challenges and HR would do well to deal with them early on by asking a few key questions: Will the new city have social support structures that the candidate can rely on? Who will take care of their parents? Ask the candidate if they’ve been to the city before. As a hiring manager, you can help alleviate relocation concerns by being more flexible about the joining date or help them with finding the right school/college to tide things over.
Job relocation is a source of stress for the candidate. How the company handles the details will play a large part in determining what employees think about the experience down the road.
Whatever the reasons were for wanting to change jobs, you would have analyzed them and made finally made the decision to make a move to your next career opportunity. However when you plan to resign from your current job, you must be prepared to resist powerful, persuasive tactics which your employer can use to change your mind.
Your employer might lure you with more money, a promotion, or better benefits, and you might consider saying “Okay!” But is it a good idea???
Here are a few stats from 2 surveys Antal conducted on Counter Offers. In the first survey, Antal consultants spoke to those professionals who, after accepting the offer, went to resign with their current employers, were counter offered they accepted and the consequences they faced.
In the second survey, Antal Consultants spoke to HR Managers who have counter offered their employees to retain them. However, this is done to buy out some time to hire a replacement or very rarely it count be to retain the employee since certain skill sets are hard to find.
Here’s a detailed infographic you must have a look at before you think of biting into the ‘Forbidden Apple’ – Counter Offer
Please Note: Click on the image below for a better view
Antal India continues to accelerate growth in the Indian recruitment market with launch of Antal RPO solution
Mumbai, August 03, 2018: Antal International, global leader in executive recruitment business is glad to announce the launch of Antal RPO Solutions to provide our clients in India with a valuable recruiting option. Antal India has set up an RPO division in Chennai headed up by Mr. Nikhil Indrasenan who joined Antal as Business Head, Antal RPO Solutions on August 01, 2018. Within the first year, Antal RPO business intends to scale to a team of 50 recruiters focused on volume hiring solutions, who would be ably supported by the 40+ offices & 200 recruiters around the Antal India Network. With the launch of this recruitment solution, Antal now has another option to present to clients who may be seeking low cost per hire, quick scale-up hiring support.
“With customers constantly seeking lower cost per hire models, RPO (Recruitment Process Outsourcing) seems to have quite literally taken over new solution ideas within recruitment. Launching Antal RPO Solutions is a direct response to the increasing market demand for rapid innovation and transformation within recruitment process. Companies are seeking to build teams with a leading edge in the talent acquisition function and therefore they need recruitment solutions that deliver measurable results to meet their business demands quickly. So here we are, extremely excited about the launch of a new solution for our clients seeking a more efficient recruitment engine that lowers their overall cost of hiring, continuously improves recruitment KPIs and is versatile enough for quick scale-up hiring support.” says Mr. Joseph Devasia, Managing Director Antal International India.
Nikhil Indrasenan, Business Head, Antal RPO Solutions: Over 18 years in HRO with Ma Foi, Randstad & Pontoon Solutions in P&L and Sales roles and 6 years as an Entrepreneur. Helped design and execute several large scale hiring programs across sectors and locations hiring over 5,000 professionals. Involved in setting up and running Ma Foi’s first franchisee operations in India and subsidiary in Sri Lanka from 2004-2006 hiring over 3,000 professionals across Banking, Telecom & BPO. Headed Randstad’s Assessment, Consulting and Training arm before moving to set up the RPO business and lead the Bid Desk. Played a central role in winning several RPO deals across sectors and locations and helped maintain a leadership position in the market. Instrumental in winning Randstad India’s largest RPO. Moved to Pontoon Solutions in 2016, a global MSP and RPO leader as Director-Sales and won their largest RPO with an energy giant.. A keen reader of management & science who follows Formula One furiously