Weekly Top Articles & Industry Trends For Staffing Leaders
A collection of this week's most important news articles, market trends, and blog entries will give you an inside look at what's going on in the staffing and recruiting space.
After playing a pivotal role in shaping India’s IT services sector for over three decades now, Software Technology Parks of India (STPI), an autonomous body under the Ministry of Electronics and Information Technology (Meity), is now realigning its focus towards the tech startup ecosystem and Global Capability Centers (GCCs).
Even as the corporate sector in India is taking steps to address mental health issues at workplaces, a majority of employees believe companies could do more to improve their overall well-being, a survey report said on Saturday. Over 79 per cent of those participated in the survey opined their organisations could do more to address mental health issues and well-being, according to the report by HR services and workforce solutions provider Genius Consultants.
Fresher hiring in the IT services sector is expected to witness a substantial rebound this year, with projections indicating a nearly 100% increase in entry-level hires compared to last fiscal. According to data sourced by ET, the sector is set to surpass 150,000 fresher hires in FY25. This optimism is driven by increasing demand in business, particularly in the banking, financial services, and insurance (BFSI) segment—the largest vertical for most IT firms—as well as strong large deal wins and global expansion by IT majors, experts say.
The demand for upskilling in India has reached new heights, with technical and professional skills seeing significant growth in 2024. Udemy, a global leader in online learning, recently released its Q2 2024 Global Workplace Learning Index, revealing the most sought-after skills for Indian learners. From mastering cutting-edge technology to honing communication skills, learners are on a fast track to becoming future-ready.
As the demand for diverse work styles continues to grow, more people seek jobs that allow them flexibility to work on their own schedules. A survey by the Ministry of Internal Affairs and Communications in Japan found that the most common reason for choosing non-full-time employment is “to work based on convenience,” cited by 32.8% of respondents.
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A recent report by Robert Walters examined perceptions about the four-day work week and its potential impact on talent and organisations in Asia. More than 5,000 professionals and companies across 11 Asian markets were surveyed, including Singapore, Indonesia, Malaysia, and Thailand amongst others. Overall, 89% of professionals want a trial of the four-day workweek. For the most part, employers find the idea feasible (66%). However, only 25% of them have plans, or are likely to trial or transition to a four-day work week.
The changing expectations of employees and the increasing complexity of compliance, for instance, has made today’s workforce nothing like it used to be, said Steve Holdridge, President and Chief Operating Officer, Dayforce. At the start of this new workforce era, a ‘complexity crisis’ has emerged, as Holdridge described, “There is a conflict between employees looking for empathy and flexibility in terms of where and how they work; and companies worried about compliance, productivity, efficiency, and recruiting and retraining talent.”
The competitive landscape for recruiting top talent has shifted dramatically, driven by rapid advances in technology and changing workforce expectations. HR professionals across Southeast Asia are constantly seeking new methods to attract and retain high-quality candidates. In this evolving environment, traditional recruitment approaches may no longer suffice, particularly as the demand for specialised talent intensifies and competition grows.
Now more than ever, employers are paying attention and listening to what their employees want and need in the way of support—and taking action. In fact, according to Business Group on Health’s 2021 data, 92% of employers have expanded their support for mental health and emotional well-being, and 74% have increased work/life balance programs.
The Acumont team is here to share this week's industry insights with you. Staffing leaders can make better decisions by reading this weekly digest, which helps them understand the human capital issues that impact recruiting and staffing workforces as well as the economic trends that affect their businesses.
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Acumont Solutions is a global staffing services provider and offers a wide range of services, including talent acquisition services, international recruitment, executive search, startup hiring, recruitment process outsourcing, and contract staffing.