HR Learning: 15 Dec, 2023

 1.

Navigating the shift: The surge of skills-based hiring in India

The move away from traditional hiring, which heavily favoured academic qualifications and experience, has evolved towards prioritising specific skills in today's fiercely competitive professional landscape. In the ever-evolving landscape of the Indian job market, a remarkable shift is underway, the ascent of skills-based hiring. Traditional hiring processes, centred around academic qualifications and experience, are making way for a more dynamic approach that places a premium on specific skills. This paradigm shift reflects a broader acknowledgement that skills, rather than degrees alone, are the true currency in today's competitive professional arena. The dynamics of skills-based hiring: The rise of skills-based hiring can be attributed to several factors, each contributing to a more holistic and efficient employment ecosystem. One of the key drivers is the fast-paced evolution of technology, which has rendered certain skill sets obsolete while creating an insatiable demand for new ones. As industries digitise and automate, employers seek candidates who possess the technical prowess required to navigate this brave new world. In India, a country known for its burgeoning IT sector, the emphasis on skills is particularly pronounced. Employers are increasingly prioritising candidates with hands-on experience in emerging technologies like artificial intelligence, data science, and blockchain. This shift underscores the need for a workforce that can adapt swiftly to technological advancements and contribute meaningfully to the innovation-driven economy. A realignment with educational initiatives: The surge in skills-based hiring has prompted a realignment in educational initiatives across the country. Recognizing the need for a workforce equipped with relevant skills, educational institutions are revamping their curricula to bridge the gap between academia and industry requirements. Vocational training programs and industry partnerships are becoming integral components of the educational landscape, ensuring that graduates are not only armed with degrees but possess the practical skills demanded by employers. This shift also signals a departure from the conventional belief that a prestigious degree is a one-size-fits-all ticket to success. Companies are increasingly recognising the value of diverse learning paths, including online courses, certifications, and bootcamps, which provide targeted skill development and are often more attuned to the rapidly changing demands of the job market. Inclusive hiring practices: Skills-based hiring is not only about technical prowess but also about fostering inclusivity in the workplace. By focusing on skills, employers can tap into a broader talent pool, breaking down barriers related to age, gender, or educational background. The impact on employee retention: Another noteworthy aspect of skills-based hiring is its positive impact on employee retention. Navigating the future: As India navigates this transformative phase in hiring practices, both employers and job seekers need to embrace the opportunities presented by skills-based hiring. In conclusion, the growing trend of skills-based hiring in India marks a pivotal moment in the country's employment landscape. 

 

2.

AI upskilling to job-hopping: Trends that will lead 2024 workplaces

CoachHub's recent research indicates that more than 56% of companies have incorporated AI into their HR operations. The pace of change, driven by the widespread adoption of AI and the rapid evolution of organisational dynamics, is unprecedented. Recent research conducted by CoachHub reveals that over 56% of organisations have integrated AI into their HR functions.  As AI's role continues to evolve, and skill requirements undergo transformation, leaders must proactively prepare their workforce with the necessary skills and resources for the forthcoming trends. Experts from CoachHub, a renowned global digital coaching platform, have outlined their forecasts for work and careers in 2024, shedding light on how organisations can navigate this landscape successfully.

 

3.

Training and development for FMCG employees

The swift evolution of the FMCG industry necessitates a sharp focus on training and development initiatives to bolster employee efficiency. The world of business is rapidly evolving with intense competition particularly those in the FMCG industry. Today, the FMCG industry is the fourth largest sector in the Indian Economy out of which, healthcare products constitute (31-32) % of the overall sales, and the remaining (18-19) % is for food and beverage products. Recognising the significance of employee efficiency and productivity, companies are now actively looking for different methods to enhance their workforce through rigorous training and development practices. Giving proper training to the team has become more important than now. It empowers employees with the necessary skills, knowledge, and capabilities to navigate the ever-changing landscape.