Recruitment – the process that is in existence since the beginning of the world under various forms and methods. Recruitment was provided with an identity and focused since the emergence of management thoughts…a period somewhere around the era of Karl Marx. More importantly recruitment will exist till the extinction of human race.
In the present world, recruitment has taken many forms. The industries across the world are looking for human resources who can add value to their organisation, than mere human machines who can only do iterative and redundant jobs. The activity of the brain and presence of mind is very much required to sustain the existing competition. Companies are looking forward for innovation in each and every process. If an organisation is impotent to innovate (product, service, process, etc.) whatever you say….then it is in the process of extinction from the market.
The developed markets are focusing mostly on quality of the candidates. The terminologies value-add to the company, innovation and similar other words are given priority in the developed markets. Does it work the same way in the emerging markets? Whats the scenario in the emerging markets?
The companies in the emerging markets are mostly dependent on the outsourced projects from the developed markets. The main objective of the outsourcing is to reduce operational costs. This objective changes the perspective of the companies in the developing markets towards human resources. As most of the projects are based on operational processes, the companies in the developing markets are in need of 20-25% of the quality candidates and the remaining 75-80% of human machines.
The volume of candidates that can be hired in a short duration (as soon as possible) becomes the main motive behind the recruitment in the emerging markets. As the emerging markets are very much focused towards the Quantity and not the Quality, they are not in a position to capitalize on the structured recruitment software and tools that could help them in structuring their activities. Due to the repeated mass hiring and increasing attrition rate, these companies are forced to use the tools such as MS-Excel to do their day-to-day activities.
The talent acquisition or recruitment software vendors are finding it very difficult to capitalize on the untapped huge customer base in the emerging markets. The high cost involved in customizing and tuning their products for the mass hiring process will demand more investment in R&D, development, and post-sales support as well. The increase in the product development cost will again hit these vendors, while pricing their products in the cost-sensitive emerging markets.
As a result of these restrictions the global talent acquisition/recruitment software vendors are able to generate revenue from emerging markets that holds good only for a single-digit percentage of their global revenue.