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Innovation A watchword in IT E-Recruitment An IT way of Talent AcquisITion

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CO TE TS

Executive Summary

Introduction

Marke t Overview

Benefits of Recruitmen t Solutions

Basic & Advanced Features

Conclusion

Reference

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Executive Summary Amid neck-break competition and surging attrition rates, the talent war has assumed proportions never thought of a few years back. And in a talent pool like India, which doubles up as a service provider to the entire world, organizations are under constant pressure to attract new talent and retain their existing work-force. Organizations across all industries around the world are now struggling to fill vacant positions. In fact, companies are reporting having an increasingly difficult time finding the right person for the job, from executive positions down the ladder to rank-and-file employees. In January 2007, Manpower Inc., which offers employment services from its headquarters in Milwaukee, conducted its 2007 Talent Shortage Survey. Polling about 37,000 employers from 27 countries and territories, Manpower discovered that 41 percent of employers worldwide are having trouble filling vacant positions due to a lack of suitable talent available in their markets. The Performance & Talent Management Trend Survey 2007, which was conducted by BPM Forum, SuccessFactors Inc. and the Human Capital Institute, reports similar results: 98 percent of the 725 respondents say that competition for talent is increasing in their industry. Of those respondents, 65 percent say its increasing to a high or very high degree. According to the Performance & Talent Management Trend Survey 2007, HR professionals from large and small companies alike overwhelmingly report that increased competition for talent is leading to higher compensation packages, slower time to new hires, strains on quality and customer service, and reduced business flexibility. Facing conditions like these, companies need better, more efficient and cost-effective ways to manage the entire hiring process, from writing the requisition for the job to posting it on external job boards to getting the new employee set up and ready to work. E-Recruitment solution provides the answer for the problem. E-Recruitment can be defined as comprehensive systems that address workforce planning, requisitioning, candidate acquisition, applicant tracking and reporting/analytics Gartner. Inc. E-Recruitment can help organizations of all sizes reduce employee turnover by finding the right person for the job, decrease the time-to- productivity of new hires, improve the organizations regulatory compliance, reduce the costs incurred both by HR operations and by vacant positions, and even build a talent pipeline to support your company as it grows. Ultimately, e-recruiting can lead to more productive personnel with a greater stake in contributing to the success of an organization.

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Introduction Nearly every large enterprise today has an HRMS (Human Resource Management System) in place, but not all of them have formally adopted a talent-acquisition strategy. But in todays knowledge economy, employees are a companys greatest asset and are key to staying ahead of the competition. Talent acquisition can be described as planning, sourcing, assessing, hiring and on-boarding of top talent. In its 2006 Talent Acquisition Strategies Benchmark Report, Aberdeen found that 64 percent of the 100 enterprise respondents needed faster and easier ways to populate their databases with a qualified talent pool, and 53 percent needed to improve communication through the integration of their talent-acquisition processes. Respondents also noted pressure to compete with rival companies to source top talent, as well as access to open Internet job boards and private talent portals. The solution can be found in an increasingly important component of HCM (Human Capital Management) software: a comprehensive erecruitment offering. E-recruitment technology turns manual, time-consuming HR tasks into streamlined, automated processes, which reduces HRs operating costs and eliminates the inefficiencies and delays inherent in a paper-based hiring process. Hiring managers are free to spend their time on what matters to business leaders: securing top talent and hiring a companys first choice of job candidates. Companies are more successful in fighting this war for talent when they make this transition away from a paper-based system to an automated talent acquisition system. No matter what kind of workers a company is seeking be they a contingent work force, several hourly workers, or one or two highly skilled technical employees theres an e-recruitment package with the tools you need to attract and hire people that will be a good match for an organization. Most packages include tools to source job candidates, including via third-party agencies and Web sites as well as internal job boards; more accurately match candidates to open positions; prescreen and assess applicants, including disqualification based on skill sets; automate and streamline the job-offer process; happily immerse the new hire in the corporate culture; and build up talent pools for future job openings.

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Marke t Overview Although India cant be pronounced a developed market in terms of e-recruitment yet, the trend toward technology in HR is fast catching up. The approach toward human resource management incorporates both the traditional HR principals, and technical support available in the market. E-recruitment is gradually becoming a core area for many organizations today, simply because organizations have now realized that age-old methods are no longer working where the management of their primary asset employees, is concerned. Moreover, an increasingly globalized work-force has come with yet another key issue for the companies to manage that of managing people at diverse locations. Cisco Systems, TCS, Infosys, Reliance ADAG, HLL are some of the companies who have e-recruitment software operating in India. Other companies are also expected to follow the suit in the near future. Globally, there are five market leaders BrassRing, which has been acquired by fellow leader Kenexa the combined offering is Talent Acquisition/ Recruiting.Taleo Corps Recruiting, StepStone Solutions EasyCruit and i-GRasp and Vurv Technologys Recruitment. Each of these vendors offers consulting and implementation, such as customization, services. And all but Kenexa offer e-recruitment software tailored to midmarket customers. Challengers are iCIMSs iRecruiter, Jobpartners ActiveRecruiter, Authoria Inc.s Recruiting, Bernard Hodes Groups sourcing solutions, Peopleclick Inc.s Recruitment Management System and VirtualEdge Professional, which has since been acquired by talent lifecycle software vendor ADP Inc. Finally, there are also four niche players enter the major ERP vendors Oracle Corp., Oracle-PeopleSoft and SAP, as well as talent management vendor SilkRoad technology Inc, which offers OpenHire. Oracle offers iRecruitment and PeopleSoft Enterprise Talent Acquisition Manager and Enterprise Candidate Gateway. Also, SAPs suite includes E-Recruiting. Benefits of Recruitmen t Solutions From the outset, it might appear that the benefits derived from an e-recruitment offering may be limited to cutting down on HRs paperwork hassles or easing some of the jobposting duties of hiring managers around your organization. In fact, e-recruitings benefits ripple out from HR to finally improve an organizations agility to respond to changes in the market, mitigate the human-capital risk and support regulatory
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compliance. Expect, also, to see productivity improve with happier employees who are well-suited to the jobs they perform. An e-recruitment system can also help your company cut costs across the hiring process, from HRs operating costs to the costs incurred by a vacant position to advertising and agency fees to post open positions. Equally important but perhaps not immediately evident is the boost e-recruiting can give your company when you need to hire in the future. A comprehensive system can help your firm build up a talent pool of qualified, interested potential job applicants that you can tap when you anticipate openings. You may just have the perfect candidate on deck as and when is there a position vacant. Basic and Advanced Features Requisition Management Tools: E-Recruitment lets you create requisitions from scratch, a template or an existing one; tie the status of a requisition to automatic actions, such as onboarding; view all relevant job applicants and their status in the hiring process; and capture and track costs from a central location. Sourcing and applicant tracking: The next step to filling positions is locating the best possible potential employees with erecruitings sourcing and applicant-tracking tools. Pushes job listings to the Internet job boards of your choice and automatically collects candidate applications as they roll in. It also lets you automatically source job candidates from Internet job-board resume databases in real time. Candidate to job matching: One of the ways e-recruitment software streamlines the process of acquiring talent is through candidate-to-job matching capabilities you define the competencies, behaviors, skills and experience required for a job; those requirements are turned into models, which are matched to jobs. That structured data becomes a part of each job requisition, allowing you to match your criteria with sources of talent. Regulatory Compliance: Another critical feature offered by e-recruitment solutions are integrated tracking and reporting capabilities to ensure compliance with a variety of employment regulations, such as fair-hiring practices and equal opportunity employment. Prescreening comes in handy here, too, making sure that all job candidates are evaluated on equal criteria and reducing the risk of discriminatory hiring decisions. Reporting and analysis: An E-Recruitment system comes with reporting and analysis tools, which will assess the true success of your organizations recruiting efforts. An e-recruitment package should
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gather recruiting metrics that measure both the efficiency of the recruiting process such as time to fill, cost per hire and offer- acceptance rate as well as the new employees performance, such as quality of hire, best talent sources and recruiter productivity.

HRMS Integration: Another feature that e-recruitment packages tend to share is integration with third-party and homegrown HR software, including HRMS systems, payroll solutions and more. That should be accomplished using standard technologies. Databases: One of the more powerful benefits of an e-recruitment offering is the ability to build talent warehouses, databases of both active job seekers and passive, potential job candidates that your organization can tap as positions open up. Job-Site Branding: An organization wants to provide easy-to-use tools for prospective employees to learn about and apply to your organizations open positions. Using portal authoring and content-management tools, one can tailor a variety of career sites to target new college graduates, hourly workers, executive types, your existing work force and more. Third Party Vendor Management: If a company works extensively with third-party vendors or recruiters to find new workers, then a e-recruitment system has integrated vendor-management tools that help you control spending on agencies. On-Boarding: An E-Recruitment System provides tools for filling out post-hire forms, enrolling in benefits programs, taking orientation courses and other features to help coordinate the logistics of a new employees first few days on the job. With on-boarding, one complete the recruiting cycle and get new hires off to a successful start at your organization.

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Conclusion Companies around the world now operate in a knowledge economy in which employees are a companys greatest asset. Therefore, hiring and retaining top talent can mean the difference between success and failure in the marketplace. Companies will have success at sourcing and assessing top talent if they work on longterm strategies, such as improving their company brand [and] building a pool of active and passive candidates. These goals can be achieved with a robust e-recruitment offering. E-recruitment software also gives the HR department a greater ability to support and advance the organizations business goals. By working with the right kind of job candidates, HR can reduce the cost per hire, fill the position more quickly and successfully, and support the corporate culture with a good personality fit. As the foundation of your organizations talent-acquisition strategy, an e-recruitment package can also be that foot in the door of a talent management strategy. The business intelligence gleaned by the HR department can be used not only to find and hire the best possible candidates for your organization, but also to groom them for promotion, assess their performance throughout the year and develop their leadership capabilities. In the end, e-recruiting promises to do much more for your organization than simply fill empty seats in your company faster than your current recruiting process.

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Reference Executive Summary and Introduction http://www.highbeam.com/doc/1G1166139235.html http://www.itbusinessedge.com/blogs/sts/?p=109 http://timesofindia.indiatimes.com/Business/India_faces_skilled_employee_shortage/artic leshow/2175928.cms Surveys http://www.talentmgt.com/industry_news/2008/November/3856/index.php http://resources.bnet.com/topic/survey+and+talent.html http://dqindia.ciol.com/content/strategy/management/2008/108112708.asp Software information. http://www.hrworld.com/whitepaper/recruitment-buyersguide/index.php?cmd=submitForm Miscellaneous http://www.relianceworld.in/erecruit.htm http://www.careers.tcs.com/FAQHome.html http://www.financialexpress.com/old/fe/daily/20000929/fst29024.html http://www.icmrindia.org/casestudies/catalogue/Human%20Resource%20and%20Organi zation%20Behavior/HROB014.htm Books Keeping the people who keep you in business Leigh Branham Human Resource Management K. Aswathappa.

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