The Advantages and Pitfalls of the Modern Hiring Process
Recruitment has always been and will always be the key driving force to augment and empanel relevant professionals for an organisation. It is THE largest and THE most challenging function among others.
Hiring process has undergone a major metamorphosis over the past 20 years from the time it has evolved as an independent portfolio to attract talent inside the organisation.
Around the 90s, during the evolution of this function, it was very slow, steady and laborious which happened through hit and trial method as there was no sure shot process or procedure to follow. Each mandate or position took almost a month for the entire life cycle to close. On the positive side, most of the positions for which the recruiters followed the process diligently, closed successfully. Long relationships were forged with strong talent bringing fresh ideas and concepts into the organisations.
Challenges however, did not end here. As the market opened up , the ratio between demand and supply began to become highly skewed. Jobs were in abundance and relevant candidates could be counted in numbers. As a result, the market, salaries and ethics skyrocketed and swooped in sharp spikes till the dot com dream busted itself in 2001. Suddenly the tables had turned and supply was outnumbering the demand- salaries, designations fell through the roof and so did the delicate castles of short lived dreams of the erstwhile booming industry.
In the meanwhile, recruitment process was quietly revolutionising itself to become a faster, more efficient horse taking a shorter route to its destination. Fitments were being done overnight across industry verticals specially Telecom, IT and ITES. Advantages were that, there was faster TAT of closure and joining, the pitfalls were that the quality was the maximum sufferer in the entire process. The longevity, thus of a product of this process did not see a long relationship with the organisation.
The trend has stayed on…albeit furtively….jostling and making space even in the Search Psyche!!
What a transformation!
The trend now, is a “watch and react” one, dynamism, the order of the day in this function!