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Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
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Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
After three years into a debilitating pandemic, the job market has changed worldwide and India is no exception. Since the ‘great recession’ triggered by Covid-19, traditional nine-to-five jobs gave way to gig work, work from home (WFH) and remote jobs. Next came the ‘great resignation’, the ‘quiet’ and the ‘loud’ quitting’. But the workforce pushback saw enough backlash in large-scale tech layoffs and the latest back-to-office mandates.
As the frequent waves of change continue to rock a once-placid hiring market with its conventional norms and red flags, reinventing recruitment becomes the hallmark of new success stories that companies aspire to achieve.
In a fast-evolving jobscape where adaptation is critical, practical application of degrees matters most and diversity dictates the talent hunt, most organisations are embracing new-age hiring strategies for optimum outcomes. From using AI and automation for talent scouting to remote interviews, skill-based assessments and online onboarding for real-time collaboration from anywhere, the tech-age tools and methods have unlocked value-added features for maximum productivity and professional growth.
To understand where the best candidates are and how to recruit them, Inc42 joined hands with Fountain, a leading platform for high-volume hiring, to host The Focal Point Roundtable on The Future Of Work: Reimagining Hiring In The World Of AI And Tech. The event explored the role of AI/ML in recruitment, the significance of employer branding and how smart hiring practices could address various concerns and challenges.
A wide range of critical topics were discussed, including:
- The driving forces behind the changing landscape of recruitment practices
- The impact of AI/ML in reshaping the recruitment process
- Effective strategies for communicating the employer brand to the emerging Generation Z workforce
Chandana GC, director of workforce transformation at PwC India, moderated the roundtable.
A host of hiring decision-makers from various startups were also present at the session. Among them were Darshith Satheesh, head of HR at Portea Medical; Naveen Tom Alex, HR director at Shadowfax; Seema Vijay Singh, CHRO of MediBuddy; Ketan Krishna, people and governance head at RentoMojo; Ashish Bansal, VP (HR) at BlueStone; Anvith Murthy, VP-HR (IT, admin and procurement) at Rapido; Rupini Raman, HR head at Yulu; Farhan Ahmed Hazarika, head of talent and people, Teachmint; Maxson Lewis, founder and MD, Magenta Mobility; Ravi Loyal, GM (talent acquisition) at Swiggy; Naveen Kumar N, HR head at Licious; Vinayak Srigovindan, HR expert, and Sean Behr, CEO of Fountain.
Hiring Innovations: The Use Of AI/ML & The Complexities Of Modern Practices
With the employment landscape undergoing a technology-driven transformation, the latest trends driving the hiring process reveal a complex interplay encompassing possibilities and obstacles. Therefore, a change in mindset is required to sync technology and human hiring to help businesses and the workforce move forward.
“Hiring tools have evolved in surprising ways,” said Seema Vijay Singh of MediBuddy. “I never expected we would use platforms like Instagram for recruitment, but it is becoming prevalent. This shift is quite remarkable, as any technological changes we introduced were often met with resistance in the past. So, we had to push for adoption, resulting in many follow-ups and challenges. But the current landscape is quite the opposite.”
While social media is driving the diversity pool and redefining work culture, tech advancements in areas like AI/ML provide valuable solutions for managing the high volume of job applications companies regularly receive. AI-powered applicant tracking systems (ATS) are particularly helpful here as they can swiftly scan and rank resumes, allowing recruiters to focus on the most promising candidates.
In addition, tech tools can ensure more objective evaluations by eliminating human biases, thus reducing potential discrimination and fostering fair hiring. But the question is: What additional benefits can these tech innovations bring to add value?
“In my experience, leveraging technology is not only about sourcing profiles. It is about understanding capability gaps within an organisation, comprehending the risks in the current talent landscape and the ability to come up with suitable solutions,” said Naveen Kumar N of Licious.
For a deep dive into the trends shaping the future of hiring, tune in to the roundtable discussion – The Future Of Work: Reimagining Hiring In The World Of AI And Tech.
