End-to-End Recruitment ROI: An American IT Success Story

 The IT sector in India is experiencing a tumultuous period, with talent shortages and cost pressures leading to challenges for companies. Despite nearly 2 lakh IT professionals losing their jobs due to over-hiring, there is still an immense demand for tech professionals far exceeding the supply. This disruption has had a significant effect on talent acquisition and retention strategies.

With the emergence of start-ups offering more cost-effective solutions, the industry has become more competitive. India’s IT sector must devise innovative strategies for building robust talent pipelines to stay ahead of the competition and remain successful in the coming years. Strategies for hiring for IT sector jobs include developing creative methods for sourcing and nurturing skilled professionals who can propel their growth.

High-impact hiring emerges as a game-changer for senior-level IT sector jobs. Hiring experienced and exceptional talent at the managerial levels with the right skills and cultural fit is crucial in driving business success. High-impact hiring can elevate product development, streamline operations, and foster a culture of excellence within the organization.

Taggd, a leading end-to-end recruitment platform, connects the best talent with companies hiring for IT sector jobs. Our resourceful digital hiring platform applies sophisticated algorithms, deep industry knowledge, and an extensive pool of candidates to recognize and onboard the highest caliber of tech professionals.

Our tech hiring platform bridges the gap between companies and IT talent. Our end-to-end recruitment solutions have helped many companies, including a leading American IT company (discussed later in the blog).

Amidst the layoffs, the IT sector witnessed a slight increase in hiring activity in June 2023. The IANS report stated that the tech job market is beginning to improve.

Technological advancements and the increasing reliance on digital solutions across industries have created a plethora of opportunities for IT professionals. As companies undergo digital transformations and embrace emerging technologies like Artificial Intelligence, Cybersecurity, Cloud Computing, and Data Analytics, the need for skilled IT professionals has become paramount.

• Lack of Skilled Professionals: Despite the demand for tech talent, IT companies face several challenges in recruiting skilled professionals. One primary reason is the need for more qualified candidates. TeamLease’s report, ‘Skills Strategies for a Strong, Sustainable, and Balanced World of Work,’ indicates that India needs more professionals with appropriate tech skills, as only 49% of professionals aged 22 and 25 are considered employable. The report also suggested that India will require 30 million skilled professionals by 2026, and half of the workforce will have to upskill.
  
• The Demand-Supply Gap: The rapid pace of technological advancements often outpaces the supply of adequately trained individuals, thus creating a gap between the demand and supply of IT professionals. Furthermore, professionals are choosing larger corporations for job security and stability — around 73% of professionals prefer more prominent companies over start-ups. Such preference can make attracting the best IT candidates even more difficult for start-ups and smaller firms.
• Evolving Skill Requirements: Another challenge companies face is the rapidly changing nature of technology, requiring their employees to continually update their skills and knowledge. Finding candidates with the exact combination of expertise and skills for specific projects can be a difficult task.

Companies must have effective end-to-end recruitment processes and strategies to stay competitive in this fast-paced environment. 

• Employer Brand: Building a strong employer brand that showcases work culture, benefits, and career growth opportunities is essential for attracting top talent and generating interest from potential candidates. 

Taggd’s Best Companies to Work For 2023 report revealed that 30% of professionals prefer flexibility, and 22% want growth opportunities. A positive employer brand can make all the difference in securing the best people for your organization.

• Consider Employee Preferences: To attract and retain highly sought-after IT professionals, companies should consider embracing flexible work arrangements, offering remote work options, and providing attractive compensation packages for an improved candidate experience ROI. These can particularly appeal to the IT workforce, who value job flexibility and a healthy work-life balance. 

• Tap into Specialized Networks: Companies should take advantage of hiring platforms that specialize in connecting IT professionals with employers. Doing so gives access to a pool of highly skilled candidates explicitly looking for IT sector jobs.

• Emphasize Soft Skills: It is crucial to look for a well-rounded professional with the right technical skills, but also emphasize soft skills such as communication, adaptability, and teamwork. Data-driven assessment can help identify these qualities in potential hires.

• Analyze Hiring Metrics: Monitor and evaluate the performance of your recruitment process by looking at metrics like how quickly you fill positions, the cost of each hire, and where your candidates come from. This type of data gives you valuable insights into what’s working (or not) in your recruitment strategy and helps you make improvements over time. 

A tech hiring platform, such as Taggd’s AI-powered hiring platform, is designed to meet the specific needs of companies in their efforts to find skilled professionals for IT sector jobs. 

Unlike traditional hiring practices that rely on job postings, sifting through 1000s of resumes, and going through multiple assessments, a tech hiring platform combines technology, data analysis, and specialized industry knowledge to streamline the process and make it easier for companies to access top tech talent.

Taggd is a tech hiring platform that has been specifically designed for the IT industry. With our powerful AI and ML algorithms, Taggd provides an end-to-end recruitment process for tech companies looking to hire top talent. Taggd makes it easy for employers to create job listings, specify precise skill requirements, and access a wide array of pre-screened candidates. With Taggd, finding the perfect tech talent has always been simpler.

Access to a Vast Talent Pool: Taggd’s end-to-end recruitment and hiring platform offers employers access to a wide range of IT professionals actively or passively searching for job opportunities. This provides employers with an expansive talent pool featuring candidates from various backgrounds, experiences, and skill levels that they can draw from.

Efficient Candidate Screening: Taggd’s hiring platform incorporates sophisticated algorithms and AI-powered tools for candidate screening, leveraging various data points such as skills, experience, certifications, and project portfolios to identify the most suitable candidates for any position.

This helps employers quickly find the right individuals to fill their vacancies. Taggd builds enriched candidate profiles by assessing their skills across various functional, technical, and behavioral aspects — eliminating the need for multiple and repeated assessments.

Saves Time and Cost: Recruiting the right people for IT sector jobs can be costly and time-consuming. Taggd’s end-to-end recruitment process simplifies hiring by automating candidate sourcing, screening, and other aspects of recruitment, thus helping to reduce time and hiring costs and improving recruitment ROI.

Industry-Specific Expertise: With a large and diverse pool of candidates, Taggd provides employers with the best-suited individuals for their specific requirements. Taggd’s in-depth IT industry knowledge allows us to accurately find the right fit for companies.

A Network of Seasoned Recruiters: Taggd has a core team of experienced recruiters who understand company hiring needs and leverage data and insights to source the right candidates for any role. This helps employers find the best-suited individuals who match their requirements and match their organizational values.

With our in-depth knowledge of the IT industry through our annual job market surveys and regular conversations with industry experts and leaders, Taggd is a strategic partner for companies looking to recruit the best IT professionals efficiently and effectively. By leveraging the power of Taggd’s hiring platform, companies can gain a competitive edge in attracting and retaining top tech talent in today’s highly competitive job market.

Understanding the Client

The client is a global technology leader offering transformative IT solutions that enable users to advance in their lives and careers. They sought to partner with Taggd to provide comprehensive recruitment solutions with a consultative approach.

The client emphasized providing stakeholder satisfaction, speeding up the hiring process, providing consultations based on market insights, proactively building a talent pool, and expanding the team size.

Taggd was able to provide an easy-to-use hiring platform that allowed the client to streamline their recruitment process and grow their team. With Taggd, the client has access to a global talent pool, cutting-edge technology, and comprehensive consultations all in one place.

The Client’s Challenges

• Lack of Insights: Before collaborating with Taggd, the client encountered a significant challenge in acquiring timely insights into the market and talent, decreasing the overall hiring rate.
• Lack of Organized TA Processes: The lack of organized TA structures and processes for multiple business units resulted in spending more time fulfilling business demands without assessing the feasibility of client requests.
• Unorganized Processes and Engagement: The absence of well-defined procedures and engagement led to ineffective communication, collaboration, and visibility into critical components like rejection rates and diversity drives.

Taggd’s Tailored Solutions

Every business is unique, so it is essential to develop tailored solutions to address its challenges. Our approach was simple but effective to increase the hiring speed and improve the hiring quality.

We created dedicated teams and processes to address the client’s challenges in increasing the hiring speed.

The Team: We utilized various sources, such as social media sites and online job boards, to expedite recruitment. Furthermore, we implemented our in-house AI/ML tool to accurately evaluate candidate resumes and profiles to determine the most qualified candidates.

We constructed dedicated TA units comprised of over one hundred people to address the need for TA processes. These people were responsible for overseeing all facets of recruiting, ranging from sourcing to interviewing and offer letters.

We also engaged with freelancers for the project period and reallocated internal employees from other projects to speed up the onboarding process. Taggd’s COE team’s expertise was also crucial in strengthening the recruitment cycle while improving candidate quality.

The Process: We established a stage-gated procedure, facilitating swift assessment and decision-making at each stage. The process also involved identifying reverse SLAs and setting expectations and timeframes to speed up hiring.

We fully utilized data to identify any underperforming HM activities, thus allowing for quick action and resolution. We also maintained a regular bi-weekly dialogue between teams through the (RMG to ensure effective communication, collaboration, and coordination.

Improving the hiring quality was another crucial ask from the client. To address that —

• We had regular intake meetings to ensure a consistent and high-quality hiring process aligned with the company’s expectations. 
• Matched job descriptions to the required skills and qualifications of potential candidates. 
• Utilized technology to gain insight from past selection and rejection decisions for improved recruitment practices. 
• Compiled role-specific information and designed assessments, interviews, and evaluations accordingly. 
• Recruited a team of professionals from the tech and engineering sectors and provided them with training programs.

A Successful Outcome

• Within six months, we were able to increase the client’s offer rate to an impressive 350-400 offers per month, setting a new record for them. 
• We achieved 32% gender diversity in our client’s most challenging technical environment through lateral hiring. 
• Overall diversity, including campus hires, accounted for 38.5%. We are currently aiming to reach 40.5% by the end of the financial year.
• Our offer acceptance rate was an impressive 84%, with a low decline rate of just 14%. This is significantly lower than the industry average of close to 50%. We achieved these stellar numbers even during the recession and great resignation period. 
• We successfully completed three ramp-ups resulting in 800 passive profiles for 76 requisitions. This enabled us to fill 31 roles within 35 days, representing a 52% decrease from the previous quarter. 
• Additionally, external diversity among lateral hires, offers, and joinings increased, improving the overall recruitment ROI.

Improving Recruitment ROI With Hiring Platforms

Investing in an effective end-to-end recruitment process pays off. Finding the right people quickly allows companies to complete projects faster, create better products, and satisfy customers more efficiently. Additionally, using data-driven recruitment techniques helps keep turnover rates low, reducing the cost of frequently recruiting and onboarding new team members, thereby increasing the company’s recruitment ROI.

The long-term value of investing in an end-to-end recruitment process by a tech hiring platform ensures a positive candidate experience, which extends far beyond increased profitability and market success. A fair, unbiased, and timely recruitment process keeps candidates satisfied and interested in the role, resulting in an impressive candidate experience ROI.

Additionally, a positive employer brand resulting from strategic hiring practices attracts more top talent, creating a self-sustaining cycle of high-quality recruitment. This ultimately results in improved innovation and productivity for the workforce, enhanced employer brand recognition, and a competitive edge.

Hire Right With Taggd’s Tech Hiring Platform

Taggd is a leading tech hiring platform in India, and we have emerged as a trusted platform for providing end-to-end recruitment solutions. Our data-driven approach has benefited several companies hiring for IT sector jobs, with an equal emphasis on candidate experience. 

We are dedicated to providing tailored, data-driven solutions that improve recruitment and candidate experience ROI. Our team of experts is always committed to delivering quick, effective results, emphasizing excellence and fairness at every stage of the recruitment process. Our partnership with the American IT company is a testament to Taggd’s passion for high-impact hiring and transforming workplaces. 

To know more about hiring competitively in the IT industry, please feel free to reach out to us at contact@taggd.in!