The recent market assessment by Infiniti Research creates a comprehensive hiring plan for a leading multinational, biotechnology product development company and provides information on the current trends and drivers in the recruitment market.
Ever-changing recruitment landscape
The dearth of talent resources and the rising demand for qualified software engineers, scientists, sales, and manufacturing specialists is a continuous paradigm in the recruitment industry. Business houses are offering well-endowed insurance plans, the balance of work, employee benefits, career growth options, and a good working environment to attract maximum talent. Creating a robust hiring strategy will help companies gain a clear understanding of employees’ perception and insights on policies designed by the competitors in the market. Using innovative tools and services will help recruiters to bridge the skill gap and hire the best available talent in the market. Infiniti offers assessment solutions with actionable acumens for clients to help explore the attributes, hiring process, and analyze the expectations of potential employees. The team designs various surveys and conducts an in-depth analysis of interviews with the key stakeholders to develop successful recruitment strategies to attract the right talent.
Enterprises are focusing on reducing the recruitment process to save recruitment-related costs. Shortening the hiring process by conducting several interviews in a single day and sourcing talent with the required skill set will result in a quicker recruitment cycle. Using various advanced tools such as cloud computing and data analytics is helping companies to filter out applications at a faster pace. Furthermore, reducing the recruiting cycle will improve communication between the organization and the candidate and will result in creating a positive brand image for the company.
Emergence of recruitment process outsourcing (RPO)
Outsourcing the recruitment process to third-party vendors is reducing the stress and challenges associated with hiring a resource. RPOs are extremely cost-effective and helps save the time of the organization. These firms are experts in the recruitment domain and provide various value-added services to the organization. Dedicated consultants work towards hiring the best candidate suited to the work profile and completes the entire screening process on behalf of the employee. Countries in the APAC region such as China and India are the leading hubs of these services in the global market.
Technology assisted hiring
The emergence of location-based, app-based, and artificial intelligence (AI) recruiting processes is revolutionizing the market. These are next-gen apps that are specifically designed to match the requirements of the candidate and the market to create perfect recruitment opportunities. AI, on the other hand, is designed to automate the entire recruitment workflow. These systems deep-dives to understand the needs and preferences of the candidate to create a meaningful connection, resulting in the quicker hiring of the resource.
Solutions and recommendations
The market assessment team at Infiniti Research develops an analytical framework and creates a comprehensive plan to recruit potential employees. Some of the solutions offered include:
- Utilize a broad range of public and proprietary databases to organize and analyze relevant published information and develop contact details of market stakeholders
- Contact key business executives such as senior management in supply chain managers, talent recruitment, senior consultant in talent acquisition, and HR recruitment managers to offer strategic insights
- Help the client understand the hiring process, attributes, and offers being served by the competitors in the Bay area
- Provide a holistic market and competitor overview of the recruitment industry in the target region
- Offer insights into various emerging trends and drivers specific to recruitment
- Deliver a complete overview of the competitors’ employee engagement plans, recruitment strategies, learning and development, and their compensation structure
Read our comprehensive case study on how we helped a leading biotechnology product development company create a comprehensive hiring plan