“Get the right people on the bus and the wrong people off the bus"
                                                                                      - Jim Collins

But how it is done? Answer is Recruiting. Yes, Recruiting. In today’s century recruitment is equally important as other management activities like strategic planning, budgeting control or marketing of service.  Recruitment refers to the overall process of attracting, selecting and arranging a pool of suitable candidate for a job within and outside an organisation. But how do we arrange pool of suitable candidates?

                      Traditionally pools of suitable candidate were welcomed by providing an advertisement in a local newspaper with little description about the job and they were interviewed, and out of those, suitable candidates were selected. But as time went by, magazines, radio, television, emails, consultant, word of mouth, website advertisement, social media, etc. were used as a medium. In today modern world, arranging pool of applicant has changed.

                                    2014 is known as the year in which intense recruiting competition returned. After years of slack hiring, competition for arranging pool of top performer and technical talent has returned in various trend. First and the foremost trend in recruiting is Cooperate Talent Network. As, growth of LinkedIn (19 million professionals), Twitter (274 million), Facebook ( 66 million professionals), Glassdoor, Indeed and variety of other tools are available to promote company’s employment opportunity. For this, companies have now started to build a “talent network” from which to recruit. Talent network creates a magnetic attraction for employees by posting their job vacancies as well as fans, alumni, customers, partners get attracted via job positing to see their organisation visibility in various social networking site. By creating such job positing, company not only get right employee for the job, but also create network for their goodwill.

                                                                                                                                                  Still, every company wants to know :-

-      -    How my job posting are working in daily, monthly and quarterly(success or failure) basis

-      -    How my job posting are working as compared to other job industry posting

-      -    Knowing which day to post your new job on the basis of title and location

-       -   Knowledge of supply and demand of candidate in particular location where company is hiring

To find solution to these issues, Big Data comes into picture. Big Data – a powerful analytical approach that is changing the way recruitment happens and re-emphasizing that it is the recruiter, not the talent, who is at core process. eQuest, Big Data Analytical Program, also known as World’s leading job distributor, gathers unbiased data from every source available i.e., from 1.5 million job boards( including, college and regional sites, skill based niche markets and social media). It also measure performance statistics of a candidate individually and by comparing to overall market statistics, which help a company to hire a top performer as well as provide company recommendation or a go- forward plan by strategically posting job where they work best.                                                                                                                         

   Why to go so far, when you have the fortune job informer in your hand. Let’s put it in simple terms, even though 2013 was known as ‘year of mobile platform’, the impact of this platform in recruiting is still growing. Commonly known as Mobile Recruitment, is a method of connecting jobs and applicant via handheld devices, usually smartphones. Various online portals have started their mobile application, in which a registered member can get notification about job vaccines according to his/her qualification, needs, preferences and they can apply to it directly via mobile. According to a survey done by Simply Hired, estimated that 70% of active job seeker are using their mobile phones to search for jobs. Recruiters are also following this trend by making their site visible by introducing career site application, where a job seeker can apply directly for job. Hence, company’s real focus is on smart hiring and being strategic with your technology and strategy spend.                                                                                                     High value outsourcers and staffing firms, $140 billion talent acquisition industry, is filled with experts who are ready to serve the company to find the right candidate for the right job.  Recruiter going through billions of profiles on various social networking sites for few opening is wastage of time and cost to the company. This is where outsourcing firm helps, by arranging a pool of candidates according to their needs, from which they select a suitable talented applicant for the job.                                                                                                                                      Now a days, company believe in the mantra of buying talent (rather than developing). Poaching, a way through which a competent and experienced candidate, who is working in another reputed company in the same (competitor) or different industry, is employed in your company. By offering attractive pay packages and other term and condition, talent is being attracted. It is considered unethical but it is not talked openly. In India, software, retail and infrastructure industry face the most severe brunt of poaching.

                                                                              An old proverb says “time and tide wait for no one”. But in today’s world, this proverb has been modified “time, tide and technology wait for no one”. Taking a glance at world, we can see that technology advancement is taking place every minute. Systems and process have moved from occupying rooms to pockets and one day they might even disappear in this air. Recruitment technology is also undergoing transformation. From, newspaper advertisement to social media advertisement, from word of mouth to employee referral program, from outsourcing to big data eQuest program, technology has transformed the landscape of recruitment. Only one question arises. What’s next ?

Crisis which never got solved

Eurozone Crisis

“When the euro was born, it was born in the wrong economic circumstances”

Why crisis occur? Why it always happen that, when all people, economy, states and nations, come together for their mutual benefit some or the other things goes wrong? Let us try to find out why I started with a negative quote. On 1^st January 1999, the most strong currency “euro” came into existence. After World War II, in the late 1990’s European Economic Community was formed to make “euro” as a currency more strong. European Economic Community was later called as European Union. The main aim of creating such union was that, Europe’s political leader wants to achieve prosperity and secure them by creating a good relationship among various states. “Cooperation rather than confrontation” was the motto of leaders in Europe. Eurozone consist of 17 European Countries; Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain. Some countries were disqualified from being a part of Eurozone because of their economy being weak or due to some political and domestic reasons. In 2007-2009, US crisis lead to global financial crisis which further spread to Euro zone and caused Euro Zone Crisis. In October 2009, Greece was the first member of Eurozone to get affected by crisis severely and later other members like Portugal, Italy, Ireland, Greece, and Spain (PIIGS) lead to sovereign debt crisis. Greece economy was affected badly as debts were high and rate of interest was rising at an alarming rate, which lead to crisis. Greece had a national debt of Euro 300 billion ($413.6 billion), GDP ($360 billion), Debt-GDP ratio (113% of GDP), Budget Deficit (12.9% of GDP), Current Account Deficit (11.0% of GDP), Net Foreign Debt (70% of GDP), Total Outstanding Public Debt(290 billion euro). Due to Greek Crisis, other countries were also affected like Serbia, Albania, Macedonia, Romania, Bulgaria, Turkey and south-eastern Europe. Impact of Greek crisis in these countries were not only on private individuals but also made investors nervous about lending money to government(government bonds) as they knew the economy was down falling and they might not get their amount if they invest in these bonds. After Greece, Spain was the second member to get effected by this crisis as, country’s unemployment rate raised up to 20%.Even, Italy faced deficit of 4.6%.India was affected by crisis as, India used to export textile and software to Europe which witnessed slump close to 10%.Slowly slowly this problem started affecting many country and a crater was formed. To fill this crater, so that other countries don’t fall into it, emergency parachute came into existence. Emergency parachute was a measure taken by various sections of society, so that Eurozone Crisis can be solved. Basically 5 major measures were taken to solve the crisis. In 2010, the first measure was implemented, called as “Bailout package”, where Euro 110 billion was given to Greece by Eurozone countries to fill their crater. But this measure was not enough to fill the crater created by crisis. So, Parachute of two times of Euro 110 billion (Bailout package) was provided by Eurozone countries to fill the crater of Greece and also for other countries who were showing the signs of financial weakness. The next measure taken by Eurozone was “European Stabilization Mechanism” i.e., all the member of euro zone contributed 420 billion euro with a condition to payback as and when the economy is stabilized. But, this measure also failed. The next measure was taken by European Central Bank towards Greece as private banks were not ready to lend money to Greek because of risk associated to it as they might not get their money back and this was against the rule of European Central Bank. So funds were provided by Central Bank to Greece but this was also not enough to fill the crater. The final measure was taken by the Greek Government by increasing the taxes and introducing privatization. Even after taking so many major measures, crater was not filled and still Greek continues to live with crisis. The future of this crisis is that it might bring Europe to its knees or it will affect the entire global market more drastically. After reading the whole situation on Greek crisis/Euro zone crisis we can understand why we started with a negative quote.