Hiring Blunders: 60% give more preference to CTC over skill

Recruitment blunders can prove costly for an organisation, yet 62 per cent hiring managers and recruiters admit to taking candidates who were not the best fit for the positions, a TimesJobs.Com survey says.
Moreover, selecting a candidate just because he or she fits the salary range is also a prominent blunder employers tend to make.
Nearly 60 per cent hiring managers admit that CTC is regularly given preference over skill sets as there is tremendous pressure to adhere to budgets, the survey said.
One of the most common hiring blunders recruiters make is, unclear job descriptions which was cited by 55 per cent of the surveyed organisations.

The other most common mistakes are the use of outdated methods for screening and hiring candidates (46 per cent) and ignoring the relevance and importance of a good cultural fit (40 per cent).
"It is a highly competitive world and the war for talent is equally brutal as that for business. However, with lack of due diligence on the fronts of clarity of role, career path and cultural fit - talent retention remains a big challenge," TimesJobs.Com COO Vivek Madhukar said.

The survey further said while a significant majority (70 per cent) of hiring managers believe that reference checks are important, only 58 per cent actually conduct reference checks for every applicant.

Around 20-30 per cent candidates fake the references that they provide and recruiters admitted that 10-20 per cent applications are rejected after background screening.
In fact, another TimesJobs study had revealed
that nearly 87% employees prefer a customized compensation structure and organizations need to take such feedback into account while designing their Total Rewards and benefits packages.
Sanchayan Paul, Head of Performance, Rewards and Recognition, Vodafone India agrees and says, "You must have a broad understanding of different employee segments and their needs and then, try to personalize and simplify it." Gaps Nearly 40% organizations stated lack of awareness and communication about Total Rewards as the biggest barrier in effective implementation of the program, followed by lack of support from leaders (25%).

"Total Rewards need effective management to suit both business goals and employee needs and thus awareness among employees, employee feedback and leadership support is imperative for
the success of this program," says Nilanjan Roy, Head of Strategy, Times Business Solutions.
Nearly 25% of the survey respondents also felt that budget constraints possess a big challenge in
execution of the Total Rewards strategy, while 10% felt cultural barriers are the stumbling block to effective implementation.Conclusion The survey results suggest considerable changes in the Total Rewards landscape and that it is evolving continuously. India Inc. Thus requires a holistic approach for effective and efficient implementation of this program.

The results also point out some critical areas where the organizations need to improve their efforts. The primary one among them is, creating an effective two-way communication channel with the employees who are the ultimate beneficiaries of a company's Total Rewards program. Click the link to download the Complete Report - https://bsmedia.business-standard.comcontent.Timesjobs.Com/docs/TJinsiteJuly2016.Pdf About TimesJobs:
TimesJobs.Com, a flagship business of Times Business Solutions (TBS), is a platform to help competent professionals make smarter career decisions. With over 25 million registered jobseekers across the board and more than 60 million page views every month, it is fast becoming the most preferred career portal among the candidates.

TimesJobs is leading in the recruitment and employment space with its pioneering and dynamic divisions because it successfully meets all the needs of the jobseekers. Its major platforms include:
- TechGig [http://www.Techgig.Com ]: India's biggest dais for tech professionals to help them Learn, Showcase & Compete in the IT industry.
- JobBuzz [http://jobbuzz.Timesjobs.Com ]: A well-known portal that provides information & insights about different companies, job profiles and interview
Processes.
- StepAhead [http://stepahead.Timesjobs.Com ]: StepAhead offers Professional Resume writing and distribution services, career astrology, and resume improvement to help jobseekers accelerate their career.
Also, TimesJobs [http://www.Timesjobs.Com ] has the largest collection of jobs in the market, which ensures that whenever and wherever there is a great opportunity, jobseekers will discover it on the platform. In the recruitment market as well, being the biggest platform for competent professionals who think of their careers first, TimesJobs has become the destination of choice for recruiters who seek to engage with the right talent.

Media Contact:
Aseem Seth
Head of Corporate Communications
Times Business Solutions - A Division of Times Internet
Ltd.
Email: aseem.Seth@timesgroup.Com
Twitter: @aseems [https://twitter.