Marg Business Transformation

Marg Business Transformation

Challenges for Hiring

Challenges-for-Hiring

No, you aren’t imagining it: workers are leaving your company faster than you can replace them. In the past, spikes in voluntary attrition often signaled a competition for talent, where in-demand workers left one job for a similar but better one at another company. This most recent wave of attrition is different. Most are leaving to take on very different roles—or just leaving the workforce entirely. They have been operating under extreme circumstances for extended periods and have been unable to find an adequate balance between work and life—so they are choosing “life” until they absolutely need to go back.

The competition for talent is different now, too. Employers are competing with the full array of work experiences available to today’s employees—traditional and non-traditional jobs and, in some instances, not working at all. To get in the game, companies must offer adequate compensation and benefits packages; that is the ante. But to win, they must recognize how the rules of the game have changed. While workers are demanding (and receiving) higher compensation, many of them also want more flexibility, community, and an inclusive culture (what we call relational factors) to accept a full-time job at a traditional employer. Let’s look at some of the common challenges companies are facing while trying to hire top talent –

  1. Brand, Compensation, and Benefits
    These are major game changers. Candidates are now cherry-picking when it comes to joining an organisation. While compensation is among the top reasons for any candidate to jump and take a new job, factors such as leadership & work culture, brand awareness, and growth trajectory play an equally important role in attracting the right talent.
  2. Dated Recruitment Process
    With remote working in place, the hiring process has become virtual and due to this, the interview and hiring process has become cumbersome with multiple rounds of interviews because of which many candidates drop off during the interviews. “Candidate Engagement” has now become “Candidate Delight”. Companies are coming up with “one-day Interviews” to attract talent. It’s still a job seekers market and companies are trying their best to attract candidates talent war will be won by companies who adapt and become more agile and innovative.
  3. DE&I – Diversity, equity & inclusion
    Diversity, equality & inclusion (DE&I) will be a continuing focus area, especially because more candidates will make job choices based on their assessment of a company’s DE&I commitment. Recruiters need to remove arbitrary entry barriers to job opportunities like educational qualification, they need emphasise more for a diverse pipeline of candidates and hold hiring managers accountable for moving those candidates through the hiring process. This could be through restructuring hiring processes to reduce bias, building diversity-friendly interview panels, and having mandates with data-driven reporting against diversity goals.
  4. Counteroffer Scenarios becoming common
    In this candidate-driven market, job seekers are getting big offers. Finding a candidate who is perfect for both the role and your company is often challenging but rewarding. When an impressive candidate sends you a counteroffer, respond to them professionally and remind them why your company is a great place to work and how much you can offer them. Learn more about what a counteroffer letter is, the types of responses to send, and elements to include in your response. Do not make low offers to candidates. You can test the water, but anything too low can be offensive and will put the candidate off (especially if they have high expectations).
  5. High-offer Dropouts
    Offer Rejection is the new norm. Even the best brands & best-paying companies are facing offer rejections. Recruiters are facing a tough time during this season as the market is filled with candidates who are looking for better prospects and have multiple offers and choose the company which pays the most. Recruitment turns out to be a very costly affair every time a candidate drops the offer. The entire recruitment process must be initiated all over again. A significant amount of time and effort is wasted to find a new replacement and many times projects get delayed and all of this would translate to huge revenue loss. So, it’s good to analyse reasons for dropouts and work closely with the hiring manager to put a process to better manage such scenarios.

Broadly, we are amid disruption in a candidate-driven market, and these are the signs that we must throw out some of our old ways of traditional thinking about recruiting and retaining the right people. The adoption of innovative ideas and improving the process is the key to overcoming these challenges.

Sudeshna Roy Basu

Co-Founder & CEO

Industry Experience: Held positions in Strategic Finance and Business Finance (F&A) at Intel, Bangalore, and Glaxo SmithKline, Gurgaon; Chartered Accountant from Kolkata Spearheaded the formation and set up of Marg as a training and consulting organization since 2007. Marg team delivers training and consulting in the areas of soft skills, Finance, and MS Office across all levels of management. Her present responsibilities in Marg include formulating and implementing strategic goals and objectives, Marketing, Business Development, Finance, and HR. Currently, Marg Business Transformation is the authorized affiliate of Prosci Inc (world leaders in Change Management) in the Indian subcontinent. Marg provides change management certification, enterprise training, and advisory services in the field of change management. Emergenetics and Human Synergistics are also couples of global offerings which have been added to the portfolio. Under severe competition, cost challenges, economic scenarios, and pandemics she has enabled Marg to get a niche share in the training market in India ably managing a team of highly professional and experienced trainers and a fast-paced business development team. She is also responsible for future market expansion and getting Marg to the trajectory of growth. Her experience in business finance (management accounting ) roles (at Intel and Glaxo SmithKline) was mainly around annual planning of business, product and promotion strategies, ownership of the brand and product PnL, product launches, pricing, leading short-term and long-term revenue/margin analysis by product/brands/customers, establishing controls frame for sales and marketing groups, transitioning finance roles from other geographies to India, driving decisions of greenfield sites which formed the basis of taking up the challenge to start up an organization.

Jemimma Flora

Head Operations

Hey 👋 I am Flora, Head - of Operations at Marg. Marg found me 6 years ago and the journey still continues to engage and bring the best out of me. I resonate and connect with the Marg values of Integrity, building a fun workplace, and enabling a great learner experience. Leaders at Marg believe and strive to make our workplace engaging, a culture of continuous learning, and enabling everyone to be great leaders at work. I am a big foodie, an avid traveler, and love spending time with loved ones over a good meal or some intense board games. I am passionate about the people I work with and constantly finding ways to tap into their strengths and work on opportunities - enabling holistic people development and a great workplace.

Bharathi R

Training Enablement Manager

Hello 👋🏼, I am Bharathi, Training Enablement Manager at Marg. After having spent 10+ years in various departments across the Banking industry, I am now part of the operations team. What I enjoy the most in Marg is that we strive to do better each day. We capitalize on our team’s strength and put the experience of our clients at the forefront. 

When am not working, you will find me spending time with my close ones either traveling or watching a movie. I am a yoga freak and do my best to volunteer for various causes whenever I get an opportunity.

Usha Salian

Business Development Manager

Usha comes from a background of business development, sales, and strategic management over 10+ years. Starting out her career in the insurance space, Usha progressed towards business development in the B2B events space and has handled projects across India, Dubai, Saudi Arabia, Qatar, Kuwait, Bahrain, Kenya, South Africa, and the APAC region.

With us for over a year, she now aims to make an impact in the corporate development space, changing the way organizations function through handling our flagship Prosci Change Management. In her own words, she says “Working with Marg has been a fantastic and pleasant experience, were

management doesn’t hesitate to trust you with bigger responsibilities and encourages you to grow always.”  

Leading by example, Usha has remained at the top of most performance indicators within every organization she has worked, from sales generated to metrics of effort such as highest outreach, call

time, or quickest conversions. She is an ardent believer in work-life balance and has showcased equal

attention to other areas of her life, such as fitness, holistic living, and maintaining a positive lifestyle.

The quote, “Hard work beats talent” doesn’t mean a lack of talent in her case, but attributes to her quality of being relentless, when given a task to perform, or target to achieve. Hence if it’s one quality, among many that shine from her, it’s simply her undying work ethic. In her spare time, she engages in Drama and Theatre

K Krishnamurthy [Krish]

Head MARG Consulting

With over 25 years of experience in the industry (Operations, Private Equity, Consulting, and Corporate finance), Krish leads Consulting at Marg.

His focus on Change management has helped many clients develop Change Capability, deliver complex projects, as well as support leadership development in that area. He holds an Experienced Practitioner qualification from Prosci and is also a Prosci Advanced Instructor. He is also a Certified Change Management Professional™, a sought-after Change Management credential, issued by ACMP.

Krish is also an Accredited Practitioner of Emergenetics – a research-based profiling instrument that addresses thinking and behavior styles. His experience in application of this tool is in supporting Leadership [individuals as well as teams] in self-awareness and subsequent coaching.

Lastly, with Marg developing solutions for organizations to address Culture, Krish is an Accredited Practitioner of Human Synergistics assessments that help develop and deliver changes to Organizational Culture, Effectiveness, as well as Leadership behaviors and impact.

He leverages his leadership experience across Indian and global organizations to help deliver results in these areas. His industry experience (has headed Business Lines, as well as Operations, Finance, and HR) has helped him in devising 'Practical' solutions suited to companies of various industries. His prime areas of expertise include Change Management, Culture Change, and Leaders/Leadership Teams Development (Senior Management).