Is India Becoming A Fresher Friendly Nation?

The Indian Staffing Federation (ISF) predicted in 2021 that, over the following fiscal year, the number of entry-level positions would increase by 21.9%, while the number of hiring of seasoned experts would be 1.26 million. This trend shows that Indian companies are aggressively seeking out new graduates to fill open positions.

According to a second survey by the Indian job board Naukri.com, employers’ intent to hire Freshers is up by 61% YOY. This unexpected shift in trend makes you curious. I tried to understand the reason why this was happening. Read along to learn more.

Indian businesses are increasing the number of freshers as recruits for a variety of reasons. The following are some of the primary forces that are driving this trend:

1. Cost-Effective

Employing new graduates is typically more cost-effective for organizations than hiring experienced experts since fresh graduates can be hired at a lower wage than more seasoned employees. This is especially crucial for new ventures and smaller companies, which may have tighter budgets or lesser financial resources.

2. Skill Development

Some firms may prefer recruiting new graduates since it allows them to train them in the skill-set they require and shape them to fit the firm's culture. This is of utmost importance especially for industries driven or easily impacted by technology, which are constantly changing and have a high demand for new skill-sets.?

3. Cultivating Future Leaders

Employing recent graduates allows companies to identify and cultivate individuals with the potential to become future leaders at an early stage in their careers. Companies may create a talent pool of skilled employees who can take on leadership roles in the future by investing in their training and development and providing them with growth opportunities.

4. Diversity and Inclusion

In today's corporate world, many organizations are making concerted efforts to recognize and enhance diversity and inclusion in their workplace. They attempt to advance towards this goal by hiring individuals who come from different backgrounds and have varying capabilities. Making recent graduates feel equally involved and supported in all areas of the workplace is beneficial for businesses because they stand to gain from the vast variety & freshness of ideas and solutions generated by these young employees and also from the possibility of creating a perception of being an inclusive organization having a good heathy culture. ?

5. Technological Advancements

Due to the rapid pace of technological advancements, recent graduates frequently look to develop more current skills and expertise in emerging technologies. They are typically an appealing recruit for organizations that are striving to remain competitive in their industries. Additionally, recent graduates have a strong understanding of digital tools and technologies and social media which may be beneficial for organisations in domains such as sales, marketing, and advertising.

6. Flexibility

Newcomers often exhibit greater levels of flexibility and adaptability than more experienced professionals. They are willing to accept a wide range of responsibilities and duties, which may be advantageous for businesses which desire to be agile, versatile, and sensitive to changing market conditions.?

7. Incentives from the Government

Lastly, in recent years, the Indian government has implemented a variety of programmes aimed at encouraging firms to hire more recent graduates. The National Apprenticeship Promotion Scheme (NAPS), for example, provides financial incentives to firms that hire apprentices, while the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a scheme that strives to provide skill development training to young people across the country. Both schemes are run by the Indian government and may be relevant for certain types of organizations or industries.

Conclusion

Generally, the trend of Indian corporations employing more recent graduates is being driven by a variety of factors, some of which include cost-effectiveness, skill development, future leadership potential, diversity and inclusion, technology developments, flexibility, and government incentives. Companies may build a strong and capable workforce that is well-equipped to meet the demands of today's rapidly changing business environment by providing opportunities and investing in the development of their newly hired young employees, also known as "freshers".