In the fiscal year 2024–25, recruitment efforts across industries are set to shift significantly towards hiring for new roles, with 27 percent of HR professionals’ time and resources dedicated to creating fresh positions, according to a recent report by Genius Consultants. This strategic pivot underscores a commitment to fostering growth and innovation by aligning with evolving market demands.
Key Insights from the Genius Consultants Report
Genius Consultants’ Hiring, Compensation, and Attrition Management report highlights several key trends:
Focus on New Roles: A substantial 27 percent of recruitment efforts will target the creation of new positions, reflecting a proactive approach to market changes and the infusion of fresh talent into organizations.
Replacement Hiring Still Crucial: While the emphasis is on new roles, replacement hiring remains necessary, accounting for 23 percent of recruitment activities. This ensures that existing positions continue to be filled effectively.
Experience Levels in Demand: The report identifies a significant demand for professionals with 4 to 8 years of experience, making up 32 percent of hiring efforts. Those with 1 to 4 years of experience will constitute 26 percent of the hiring, while fresh graduates will only account for 15 percent.
Temporary and Gig Roles on the Rise: Non-contractual temporary roles are expected to make up 27 percent of hiring, followed closely by fixed-term contractual positions at 25 percent and gig staffing at 24 percent. Permanent roles will comprise the remaining 24 percent, indicating a diverse approach to employment types.
Industry Perspectives
R P Yadav, CMD of Genius Consultants, explained the rationale behind this shift: “The hiring outlook for 2024–25 across the industry indicates a strong focus on new position hiring. This strategic direction reflects a commitment to meeting the evolving demands of the market and the infusion of fresh talent.”
Survey Methodology
The insights from Genius Consultants are based on a survey conducted between March 1 and April 15, 2024, involving 1,114 human resource professionals and C-suite executives. This comprehensive survey provides a robust overview of the hiring landscape for the upcoming fiscal year.
Conclusion
As organizations gear up for FY25, the emphasis on new role creation over replacement hiring highlights a forward-thinking approach aimed at driving innovation and growth. HR professionals will be pivotal in navigating these changes, ensuring that their companies remain competitive and responsive to market needs. The focus on diverse employment types and targeted experience levels further illustrates the dynamic nature of the current recruitment landscape.