At present, recruitment is $1.25 billion industry, with a growth rate of more than 250 per cent. However, to maintain the momentum, continuous restructuring and innovation is imperative, experts said at meet on 'The Changing Face of Recruitment' by Elixir School of Recruiting.

"India is witnessing a war for talent, making recruitment tougher than any other business challenge," EXL Services head (HR) Deepak Dhawan said.

Hiring abroad is easier than in India. Recruitment has taken a new form - that of talent acquisition, Dhawan added.

With opportunities in abundance for job seekers, sourcing the right talent pool, in a cost effective way at the correct time is a major challenge for recruiters.  Companies that want to succeed would have to re-strategise their hiring methods, experts said.

"Going beyond cliches is the need of the day, a company has to come out with a challenging environment and innovative offerings to attract and retain talent," Xansa's senior vice president (HR) Vikram Karayi said.

Benefits like gymnasium, eating outlets and office transport have become almost essential. Candidates now want to work in an organisation which would be able to fulfil his aspirations in the long run, Karayi added.

Companies that would be able to re-invent themselves in terms of offering to their employees the opportunity to attain an all round sense of growth and contentment would be able to thrive and succeed.