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Organisations are reducing their reliance on college degrees as a sole maker of competence, and instead placing greater emphasis on the practical skills candidates have acquired through work experience and specialised courses.
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This shift in hiring is of particular relevance to India, which has the largest youth population in the world. Approximately 66% of the Indian population is below the age of 35 many of whom begin their careers without a university degree or specialised qualifications. However, they represent a tremendous pool of young talent that is capable and willing to learn.
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As companies recognise the untapped potential of these candidates, it has resulted in a shift in hiring practices. Recruiters are increasingly inclined to do our candidates with practical skills who are eager to learn, even if they lack a formal qualification.
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The new era of hiring thus involves a variety of steps and system-wide changes to the eco-system, which is not only helping companies acquire better talent and improve their performance but also helping candidates from underprivileged backgrounds stand out in the professional arena.
One of the primary pillars of this new approach is the implementation of extensive on-the-job upskilling, which has become an integral part of the professional journey for new talent. Another version of upskilling initiatives under the new hiring approach is to offer open-access employability programmes for young talent.
Soft skills development is the third key aspect to implement under the new hiring approach. Soft skills training is essential to build productive professional relationships and manage high-performing teams.
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