9 out of 10 companies in India are looking to fill open job vacancies internally: Report

In 2020, the rate of attrition increased 1.5 times in India as employees battled long shifts while working remotely. As signals of a second wave accentuate India’s remote working needs, human resources (HR) will play an even bigger role in determining the future of employees.

As per LinkedIn‘s ‘Future of Talent’ report, upskilling will be core to the talent strategy, and trends such as internal mobility, data-led hiring decisions, and improving employee experience will be in focus for employers in 2021. As many as 9 in 10 companies agree that HR will now play a key role in helping organisations streamline their business, shape their strategy, and hire more efficiently, even beyond COVID-19.

The pandemic has introduced significant internal shifts within companies. This, coupled with India’s historically competitive talent market, is fuelling the rise of internal mobility across companies today. According to the report, more than 9 in 10 (93 per cent) companies in India are looking to fill open roles internally in the post-C era.

The report shows that 7 in 10 companies in India hire internally to gain an insider’s perspective or a sense of progress. When hiring internally, the top 3 skills that companies in India look for are good communication, problem-solving skills, and time management.

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Around 95% of companies in India have dedicated L&D programmes to help employees learn new skills and prepare for the future. LinkedIn’s research shows that 91% of companies in India use data to make informed talent-hiring decisions while 53% frequently use data to map skills with open position requirements. To make remote hiring even more efficient, 9 in 10 companies are also merging roles to reduce talent acquisition costs today.

“In 2021, India will see more companies merge roles, upskill their employees, and hire internally to maximize business growth without expanding operational costs. Data-led hiring practices will also play a critical role in helping companies engage with their employees, attract the right talent, and hire more effectively in 2021,” says Ruchee Anand, Director – Talent and Learning Solutions, India at Linkedin.

As remote work becomes a continuing workforce trend, HR professionals are encouraging companies to prioritize employee experience and keep their remote staff engaged today. In fact, more than 8 in 10 (85%) companies in India are already holding more engagement activities to keep employees inspired and connected with their teams despite working in isolation.

The report also shows that companies in India are significantly more open to hiring remote staff when compared to other APAC countries. Given India’s greater preference for remote staff, more than 9 in 10 (94%) companies are building a good employer brand by having an active social media presence, and sharing more about their vision, and focus on innovation. In fact, 4 in 5 (80%) companies have already experienced an increased pool of qualified candidates because of their efforts in employer branding.