Emerging HR Trends One Must Follow as New Fiscal Year Kicks In
The current indicators of the Indian job market shows signs of improvement for FY 24-25. As for HR experts, hiring genuine talent will become a challenge without trending strategies in place. To help you evolve with the rapid changing tech landscape, we have curated strategies that cater to revolutionary technologies like Gen AI and how they are already a fundamental part of developing organisations. As per Forbes’ analysis for the year, “GenAI may spread rapidly through the economy and boost productivity growth”.
Let’s understand how GenAI and other influential factors will impact recruitment in FY 24-25 and how you can be mindful with your approach.?
As per trend, organisations are leveraging skill data and analytics to carefully navigate through a recovering job market in FY 24-25. A skill-first workforce will not only solve business challenges innovatively, but also promise preparedness when tackling market uncertainties. The organisations are investing heavily in talent that possesses human capital skills based on a centralised skill data created via regular assessments and training of the workforce.
You can invest accordingly in employee skill development, engagement, and retention leading to greater success and growth in a competitive market.
No matter what shape the FY 2025 takes, you will have a centralised skill-assessment data to ensure foolproof hiring, healthy engagement and strategic retention for optimal business growth.?
While offices have resumed functioning offline, more than 90% of initial hiring will continue to work in remote mode. Embrace the hybrid work model trend with tools that make your lives easier to attract, engage, interview and hire talent. Invest in tools that are integrated enough to function remotely, tools like job portals, ATS platforms, assessment platforms, advanced proctoring and collaborative interviews are a necessity to discover and hire talent from across the globe.???
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The adoption of generative AI is transforming HR recruitment by automating tasks, enhancing candidate matching, delivering personalised experiences, screening resumes, mitigating bias, and ultimately streamlining the hiring process with greater efficiency and data-driven insights. To understand better,you can read this article on LinkedIn on how Generative AI has emerged as the messiah of HR recruitment and is likely to redefine recruitment in 2025.
ESG is influencing talent acquisition in novel ways—ranging from appealing to Gen Z talent seeking alignment with company values to recruiting individuals equipped with the eco-friendly policies essential for the future of work.?
The ESG track record of a company is increasingly influential in both attracting and retaining talent. According to research conducted by the IBM Institute for Business Value, 70% of individuals in the workforce and job market are attracted to employers with strong environmental sustainability initiatives. Furthermore, nearly half of these individuals stated they would accept a lower salary to work for organisations committed to environmental and social responsibility.??
Conclusion
As FY 24-25 approaches, stay ahead of competition on emerging workplace trends. From remote work to employee well-being and upskilling, adapting to these trends is key for navigating workforce dynamics, fostering inclusivity, and driving organizational success. Let's embrace these trends and pave the way for thriving workplaces and empowered employees in the new fiscal year.
Author - Insha Fatma, Senior Content Executive