In: Economics
What are the current challenges of recruitment and strategy to overcome it?
RECRUITMENT: It can be defined as the process of finding and hiring the best individual for the work so that he/she can bring efficiency in the business.
Current challenges of recruitment:
1. GETTING SKILLED EMPLOYEES: The workers who are skilled have the chances of being recruited already by some other firm as they have been regularly contacted by them and you could not make much contact with that person and it made you lose such a skilled employee.
2. FEWER APPLICANTS: There are very few applicants who are applying for the job so it becomes difficult to choose from those fewer candidates as if who is suitable or not which ultimately results in hiring those candidates who are not at all fit .
3. REMOTE WORK ENVIRONMENT: It becomes difficult for the manager to hire candidates for work from home because not everybody is skilled and experienced and it becomes difficult to provide training in such situations.
4. OUTDATED HIRING PROCESSES: The companies are following the old ways of hiring which fails them to get the best employee. The ways of hiring should be changed in order to ensure you get the best fit for your company.
5. TOO MANY UNDERQUALIFIED CANDIDATES: The manager hires so many candidates and they are unable to perform well as they are not qualified enough for the work. So rather than hiring multiple candidates prefer the quality .
6. LACK OF LOCAL TALENT: The biggest challenge is to find the employees in the area where the company is located but most of the firms fail to do so, and if they hire candidates from some other area they will demand more salaries.
STRATEGY TO OVERCOME IT:
1. QUALITY OVER QUANTITY: Truy to impose the method of quality over quantity because having 10 employees who work equal to a single employee is going to bring a huge loss for the firm as you need to give salaries to 10 persons who are not at all skilled, so better to give proper salary to 1 employee who works hard.
2. DIVERSIFY YOUR RESOURCES: You need to expand your contacts and try to reach as many candidates by releasing the vacancies on social media, internet, blogs , advertisements, newspapers etc, it will surely help to get the employees as now you are able to reach 70 percent of those earlier.
3. GOOD SALARY PACKAGES: Make sure the salary you offer is adequate for the candidate you are hiring, it should suit that particular person as he is going to invest the entire day in your firm, so he must recive right maount of salary.
4.INCENTIVES AND BONUS: Try to motivate the employees to join your organisation by giving them incentives and bonuses for working hard and efficiently and bringing profits to the company.