It is essential to identify and not only hire the right talent but training, retraining and retaining them is critical as they will not only drive the company’s vision but would also be a key contributor in moving the organization to the next level.
Any organization these days stands on two pillars that are the very premise of its existence – disruption and talent. Disruption not only in the space they are operating in but also how they manage the operations of which Hiring and Talent Management plays a key role. Human Capital is the most important asset in any organisation
The aspects of hiring training, training, re-training and retaining them are critical success factors for building a successful business and culture.
Hiring needs to be driven by the equilibrium between job role and the potential hire. If the employee is not fit for a particular role or doesn’t fit into the culture, sooner or later, he/she is going to leave. Having a strategic onboarding plan for every new hire minimises such lapses. For any organization the replacement cost of any employee can cause unimaginable losses and that is why it is important to hire the right person.
It’s not necessary that the person who is hired should be very technically or functionally competent but he/she should be somebody who believes in continuous upgradation or upskilling themselves. The other factor which plays a key role in terms of new hires success is – adaptability and agility coupled with hard work and also the one who is willing to go beyond the call of duty.
Employing the new disruptors – Millenials. Millenials are the primary growth drivers for the Indian economy today. More than 45% of the workforce today comprises of Generation Y. They are competent, dynamic, adaptive, fact-paced etc. They have the much required ‘spark’, seldom feel satisfied in the absence of real growth and are an incredibly boisterous bunch.
Retaining people – There is always the risk of attrition especially when it comes to millennials. However, not one that is very difficult to solve. As they are always on the move, there is a risk of them being easily ‘bored’. It behoves us to keep in mind to not only hire the right people but also to train, retrain and retain them. Therefore it is quintessential that talent once hired has to be nurtured with care and great responsibility.
Gone are the days when employees keep looking for jobs outside. With intense competition these days it is almost always the companies who keep scouting for potential candidates for their open positions. No matter how meticulously the whole HR process is designed, the human element cannot and must not be overlooked.
In a nutshell, as an organization, hiring, nurturing and retaining talent is as critical as building a business. Stability of workforce is a key driver in moving the organizational growth to the next level.
Something David Ogilvy once said that would strike a chord with all the organizations. “Hire people who are better than you are, then leave them to get on with it. Look for people who will aim for the remarkable, who will not settle for the routine”
Ravi Panicker is a seasoned HR Professional with 25 years of experience in all facets of HR functions across varied industries/sectors and geographies in major conglomerates. His strengths and areas of expertise includes Workforce planning, Capability Building, Leadership Development, Talent Management, Balanced Score Card, Succession Planning and Performance Coaching. Expert at creating value via Business and HR Transformation. Avid Marathoner.