Economy based Recruiting

At a time when recruitment has come to a standstill in most companies across India Inc., there are still others who are using unique methods of hiring people. Let’s take a look,

Globally, economies are experiencing a slow down, hence, this is a period of rationalization, optimization and consolidation across organizations.

When was the last time you were recruited over the phone or perhaps given an iPod during the final round of interview just because you failed to make it to the final selection? Interesting, isn’t it? Well at a time when recruitment has come to a standstill and the repercussions of the current economic situation have been tremendously felt by y companies across India Inc., there are a few others who are adopting unique methods of recruiting candidates. Recruitment has definitely slowed down, as companies still cater to backfills and other specific needs. Globally, economies are experiencing a slow down, hence, this is a period of rationalization, optimization and consolidation across organizations. Traditionally, in such a scenario, all new initiatives / activities are slow to take off and the concentration is more on stabilizing and capability building.

The need of hour:

So, what are some of the unique methods adopted by companies to recruit prospective candidates? Organizations, these days, are certainly laying more emphasis on recruiting people with stronger on ground understanding and at the same time, those who come up with innovative ideas. Wells Fargo India’s Fuelling Assertive College Talent (FACT) program, started in 2008, is an innovative technology based campus recruitment process. Typically, campus recruitment process starts with recruiters going to the campus conducting. Pre-Placement Talks (PPTs) followed by tests, group discussions and face to face interviews. We did not go to the campus at all. We selected five Campus across India, namely, BITS Pilani, BITS Pilani Gao Campus, MNNIT Allahabad, SMIT Majitar and NIE Mysore. Instead of PPTs, we had a specially designed web based quiz contest which tested the applicants’ awareness of Wells Fargo. We selected one winner from each campus and handled over the grand prize, which was a premium motorbike.

The second step was the actual candidate selection process. Eligible students were asked to prepare a video lasting not more than three minutes, wherein an introduction and reasons explaining as to why they would like to join the company, was captured.

Aviva has adopted a non-traditional hiring approach wherein they take on ‘Creative behavior Evaluating Interview Process’ to attract the best talent. Our hiring process involves a wide range of selection tools such as competency based interviews, ability and personality tests and role plays to ensure that assignments are awarded to the right candidate for the role. An important aspect of the internal recruitment process is that all applicants are given the opportunity to receive feedback on their evaluation after the selection process has been completed.

In addition to the exiting recruitment process under which a candidate is assessed, we have introduced a new dimension whereby candidates are now assessed on certain competencies based on the Aviva Competency Framework which is further aligned to the five core values of Aviva. The objective behind such an exercise is to ensure that the candidate is not only a good job fit, but also is an excellent culture fit.

With more and more organization organizations making use of innovative talent hunt initiatives, it will only help identify and recruit the best of the smart breed.

Now the latest indications are economy may start reviving in the second half of this fiscal all over the world except a few pockets. May all the innovations made in recruitment, manufacturing and IT can serve as boosters after economy attains a normalcy.