The growing “gap” between academia and marketable job-ready skills owned by college graduates fresh out of college is not new. But what are certainly new are the steps that are now taken by academic institutions, training partners and companies in order to bridge this gap – providing ‘talent on-demand’!
The successful strategic partnership that can be formed to build the gap between industry and academia is suggested by experts – the model of hire-train-deploy. This new model is a unique win-win situation that helps resolve several inefficiencies. This allows both the employees and the employers to expand their options. While companies can expand their talent pools, both can lessen the resources, money and time spent on job searches.
As per a report in the year 2016, over 88% of about 1000 companies that were surveyed stated that they used on-demand workforce. 46% of them stated that they were making use of the on-demand talent for over a year. These results strongly suggest that employers will need more of full time of permanent work force and in order to cut cost, they opt for on-demand employees. While scaling their workforce as required, employers are trying to grow their businesses in a sustainable way. Before companies hire on-demand talent, they go through motions that first determine what their talent needs really are.
Here is how companies know that it is time to take the route to on-demand talent and how recruiting efforts can be targeted towards the goal:
- Analyzing needs of talent: The hiring model in the traditional way begins with open positions – employers hire professionals to fill certain job positions with specific responsibilities and roles. When it comes to on-demand talent though, skills are given a priority. Analyzing the importance of the skills in terms of overall business, how integral it is to success and how important these skills are for the company. Engaging talent to become permanent employees is the best decision that a company can take when it approaches candidates for on-demand training.
- Evaluation of the intention for wanting on-demand employees: Once employers know if they require on-demand talent, they would need to evaluate why they want to hire such professionals. 64% of organizations who were part of the survey mentioned earlier stated that the need for on-demand talent was flexibility – which means budgeting for projects. Hiring of on-demand talent works when you use them to fill unexpected gaps and work on projects of new clients or in a specific area of expertise – not just cut costs.
- Attracting on-demand talent: Once the analysis of talent needs and wants are figured, on-demand employees will certainly feel like the good fit in your company and this is when is the best time to recruit them. Employers need to hire high quality talent on-board so they can be productive from Day 1 of employment. For this model to work successfully, a company would need a trustworthy partner to train the freshers as per the exact needs of the industry who will thoroughly prepare the freshers for the job role.
- Finding the perfect fit: When it comes to general hiring, the individual takes the centre stage but when it comes to on-demand hiring, the skills take the centre stage. Finding the right fit would mean getting the best partner who has a comprehensive understanding of the industry trends, is well equipped with resources for training and also specific understanding of your company and its clients. IIHT has been the preferred corporate training partner in the latest technologies for over 200 of the Fortune 500 companies and has also trained and placed over 10 lakh IT aspirants across the globe, making it a natural partner for even academic institutions to recruit and train talent on-demand employees from the campus.