Talent Acquisition Survey 2011
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Talent Acquisition Survey
2011
“And better talent is what will separate the winning
companies from the rest.”McKinsey “The War of Talent”
Introduction
Our survey reflects this sentiment….
50% professionals feel increasing competition
in talent acquisition is driving recruitment
strategies
iRisk Comment
Enabling functions like IT and IT Security are increasingly becoming important
for being competitive. The fact that IT Act (Amendment) 2008 has brought
these sectors under ‘intermediaries’ also makes acquiring best talent that
much more imperative.
76.5% respondents felt that not just
acquiring the right talent but the ‘BEST’ talent is
significant to up the ante
iRisk Comment
Quality of talent acquired is the most significant metric in assessing the
success of the manpower acquisition strategies of organizations in the current
economic scenario
Gone are the days of quantities and quality rules the day today….
55% organizations are engaging talent
acquisition solution providers based on their
scale of industry or domain experience
iRisk Comment
Recruitment needs better understanding of the domain and provide value
instead of playing a dice game of sending 8 resumes daily to see success in 5
days (dice game of hoping to click both dice at 6 with a probability of 1 in 36)
Industry or domain expertise is the way to go in acquiring that elusive “BEST” talent….
72.7% professionals felt their key reason to
shift from their current organizations is growth
opportunities offered by available positions
iRisk Comment
While monetary compensation is still a very important factor for skilled
professionals to make moves, that very same talent pool is more keen on ‘real’
growth opportunities having seen few economic downturns & upturns in the
last decade alone
„BEST‟ talent will go where there are „BEST‟ growth opportunities ….
50% participants felt time to fill available
vacancy was next only to quality of talent
acquisition in providing an edge
iRisk Comment
Any vacant position is additional cost – a function of:
•administrative overheads for professionals handling it in the interim
•cost of opportunities lost for the business and
•last but not the least cost of mental stress for individual handling the role
internally but not having the required skill sets for that position
Race is long but time is always short in the increasing competition and economic upturn….
39.4% companies are increasing their talent
acquisition spend by more than 20% in this
economic upturn, up 3% then last year
iRisk Comment
Acquiring niche and specialized talent mandates companies to get those extra
budgets from their management. This could mean paying premium to niche
talent acquisition partners or paying that ‘little’ premium to good talent
Corporate’s are willing to shell that extra $ to acquire talent….
Periodic or frequent manpower planning came out as the most
prevalent strategy topping the chart with 35%
Strategy
Competitive environment is way ahead as the leading factor
driving hiring strategies
Factors driving organization's talent acquisition strategy
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%
Lack of required skills in available candidate
pool
Changing customer requirements or demands
Increasingly competitive environment for
employers seeking top talent
Changing demographics and requirements of
available workforce (cultural and lifestyle
differences)
Budget cut backs
Others
Drivers
Job portals are preferred way to recruit with 44% preference while
last year is was referrals with 38%, slipping now to 22%
Techniques
Growth and money are the two key reasons for talent drift, exactly
top 2 reasons stated last year
Reasons
Quality of talent and time to hire are the top of the challenge heap
Recruitment metrics for consideration
Cost per hire
22%
Candidate and/or
reporting manager
satisfaction
9%
Time to fill
24%
Quality of hire
34%
Source analysis
11%
Challenges
About iRisk Placement
iRisk Placement is a premier recruitment firm
specialized in the recruitment of middle and senior
professionals in information technology, information
security and Data Analytics domain.
It is a unit of CPA iRisk Advisors Pvt Ltd with interest in
Offline Recruitment, Knowledge Portal and
Corporate Training in Risk Management Consulting
Skills.
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