Dear Friends,
Think out of the Box...
It can't be denied that India Inc is amidst a talent crisis despite the fact that the wave of the great resignation witnessed by the West was not as severe in India, except in the IT sector. The phenomenon of attrition, retention, or talent crisis can be viewed from different angles. Many research studies have indicated the reasons employees quit their jobs in India, including stagnation, work-life balance, toxic work culture, salary, flexible working, and career path, among others.
The factors contributing to increased attrition reflect a gap in mutual understanding between employees and organizations. HR seems to have failed to anticipate and address the challenge of increased attrition in a timely manner. Is it simply quitting, switching to new opportunities, attraction to a new job or better work culture, or seeking a clear career path, or just reshuffling? This needs to be assessed and identified by HR professionals.
When we use the term 'crisis,' it signifies a scarcity of a particular thing in the open market. Scarcity arises when there is a demand-supply gap, and we tend to acquire from the available pool rather than thinking outside the box to resolve the problem. We often do not explore alternatives and hesitate to invest in them. As HR professionals, we rarely take the risk of investing in raw talent and nurturing and polishing them. While it may be costly, time-consuming, and challenging, very few organizations opt to invest in skilling, reskilling, and upskilling the available talent. We lack the risk-taking ability to employ nascent talent and tend to seek only the "best," "proven," "experienced," or "ready-to-work-from-day-one" individuals. On one hand, we fail to implement effective measures to retain existing talent at the right moment, and on the other hand, we engage in extensive searches for needles in a haystack. Instead of focusing on the best, why not consider innovative methods to develop average talent and then nurture and mold them into the best for your organization? The current talent retention strategies require significant customization, where policies need to be replaced by guidelines, and organizations must sell themselves to attract and retain individuals by demonstrating why they are the best fit. With a large pool of unemployed youth, why not explore innovative strategies to create a win-win situation?
The rapid adoption of technology at all organizational levels has left HR professionals struggling to cope with the increased demand for required skills. It is no longer the time to train and then hire but to hire and then train. Investing in human capital will be key to overcoming the Talent Crisis.
HR professionals with diverse experiences have shared their perspectives on the Talent Crisis in this edition's cover story, discussing strategies, challenges, and the way forward.
If you like it, let us know. If not, well, let us know that too.
Happy Reading!
Regards,
Anil Kaushik, Business Manager - HR Magazine, B-138, Ambedkar Nagar, Alwar - 301001 (Raj.), Mob.: 9785585134, www.businessmanager.in
From India, Delhi
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181Think out of the Box...
It can't be denied that India Inc is amidst a talent crisis despite the fact that the wave of the great resignation witnessed by the West was not as severe in India, except in the IT sector. The phenomenon of attrition, retention, or talent crisis can be viewed from different angles. Many research studies have indicated the reasons employees quit their jobs in India, including stagnation, work-life balance, toxic work culture, salary, flexible working, and career path, among others.
The factors contributing to increased attrition reflect a gap in mutual understanding between employees and organizations. HR seems to have failed to anticipate and address the challenge of increased attrition in a timely manner. Is it simply quitting, switching to new opportunities, attraction to a new job or better work culture, or seeking a clear career path, or just reshuffling? This needs to be assessed and identified by HR professionals.
When we use the term 'crisis,' it signifies a scarcity of a particular thing in the open market. Scarcity arises when there is a demand-supply gap, and we tend to acquire from the available pool rather than thinking outside the box to resolve the problem. We often do not explore alternatives and hesitate to invest in them. As HR professionals, we rarely take the risk of investing in raw talent and nurturing and polishing them. While it may be costly, time-consuming, and challenging, very few organizations opt to invest in skilling, reskilling, and upskilling the available talent. We lack the risk-taking ability to employ nascent talent and tend to seek only the "best," "proven," "experienced," or "ready-to-work-from-day-one" individuals. On one hand, we fail to implement effective measures to retain existing talent at the right moment, and on the other hand, we engage in extensive searches for needles in a haystack. Instead of focusing on the best, why not consider innovative methods to develop average talent and then nurture and mold them into the best for your organization? The current talent retention strategies require significant customization, where policies need to be replaced by guidelines, and organizations must sell themselves to attract and retain individuals by demonstrating why they are the best fit. With a large pool of unemployed youth, why not explore innovative strategies to create a win-win situation?
The rapid adoption of technology at all organizational levels has left HR professionals struggling to cope with the increased demand for required skills. It is no longer the time to train and then hire but to hire and then train. Investing in human capital will be key to overcoming the Talent Crisis.
HR professionals with diverse experiences have shared their perspectives on the Talent Crisis in this edition's cover story, discussing strategies, challenges, and the way forward.
If you like it, let us know. If not, well, let us know that too.
Happy Reading!
Regards,
Anil Kaushik, Business Manager - HR Magazine, B-138, Ambedkar Nagar, Alwar - 301001 (Raj.), Mob.: 9785585134, www.businessmanager.in
From India, Delhi
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