Startups and corporates devise new ways to find the right hire
On an average, the startup ecosystem employed 125 people per enterprise in 2014 which came down to 21 people per enterprise in 2015.
Finding a good job which fulfills all the factors is a definite challenge but then many a time, the bigger challenge lies with the recruiter who needs to find the right fit for the job and the company from amidst all the preferences.
On an average, the startup ecosystem employed 125 people per enterprise in 2014 which came down to 21 people per enterprise in 2015, according to MeritTrac Services.
Additionally with the rise in consolidations and even shutdown of operations in 2016, startup jobs have clearly raised the risks and are also losing the lust and euphoria associated with it.
Understanding the difficulty of the scenario, companies these days including startups as well as mid and large sized companies are now taking newer ways to find the right hire and are boldly experimenting and adapting innovative ways to ensure the right choice.
Sequoia backed online fashion marketplace Voonik hired its first 100 employees only through referrals to ensure collaboration and unity. Further, the company also went upto to the extreme that team leader who wants to hire a member in his/her team or for a new role, has to work on that role for a week and only then meets candidates.
While Voonik is betting on referrals and the team leaders, Treebo Hotels is trying a totally different strategy. The company lets candidates spend a week or two working with the in-house teams, notably before any commitment from either side. This allows the candidate to get a deep understanding of the work and culture as well as the company understands the candidate’s strengths which becomes a win-win situation for both.
Treebo also ensures that post offer engagement process there are less drop outs which is quite common. To avert this, the company takes initiatives like inviting offered candidates for townhalls and sending them their new macs before joining.
These innovative ways of hiring are drawing attention of the job seekers especially the skilled ones who are looking out for more than a mundane job with many inclusive parameters. Additionally, these initiatives show the company’s zeal to find the right person for the job.
“In April this year, we launched a campaign called Troublemakers– a rare breed that are not afraid to break boundaries. Apart from conducting digital quizzes and producing quirky digital films to explain the concept of Troublemakers, one of the noteworthy elements of the campaign was the Troublemaker express, wherein, we stepped outside the four walls of their office to conduct interviews in Gurgaon’s Rapid Metro Line,” said Kameshwari Rao, Vice-President, People Strategy at Sapient India.
The company also highlighted that as a result of the campaign, there was an increase of 2x in the number of applicants since last year.
Another example is being set by VE Commercial Vehicles which starts hiring before the actual hiring schedule. “We follow a special Campus Connect Program through which we engage with faculty to identify the collaboration opportunities for a symbiotic relationship. The students undergo various activities and few get chosen as campus ambassadors and are offered internship for successive year, during which they are assessed and are put up for pre placement offer.”
He added, “Later, when we go for final placements we actually already have the chosen candidates.”
To live up with the new digital era, Lenovo has also evolved its interviewing process. The candidate is required to present his solution to the given case before the panelists, thereby demonstrating his boardroom presentation skills, strategic and business acumen and market analysis.
New tech for hiring
At a time when companies are taking the social way to find the right hires, many are also using technology. Firms like Belong, HackerRank are assisting recruiters to find the right hires.
“With HackerRank Jobs which is dedicated towards programmers, coders before applying for a particular job opportunity would know about the response time from the employer which is crucial and this reduces the time consumption like one in campus hiring,” said Harishankaran Karunanidhi, CTO and co-founder of HackerRank.
Bengaluru-based HR startup Belong on the other hand, is using data analytics to build a virtual profile of various people and helping them land a job in many legacy enterprises and new age startups.
Further, Belong helps recruiters strategise their approach by using Passivity Index which can indicate how open a candidate is to an opportunity. Depending on whether a candidate is inclined to move, explore, or not ready to move, Belong helps recruiters strategise their approach.
Companies like Amazon, Cisco, Capillary, Flipkart, Ola among others are using Belong’s AI platform to find the right hires.
Apart from Belong and HackerRank, Edge Networks also uses comprehensive skills repository and machine learning algorithm to enhance accuracy and find the right resumes.
With these fresh ways of hiring kicking in, it soon might take over the conventional methods and become the new norm that companies take in order to avert the hiring of misfits and find the right person in one go.