VIA HRD Forum holds session on ‘War for talent’
Dr Amjad Khan, General Manager (HR) of CEAT Limited, stressed that hard work and patience is favourable for nurturing of talent. In organization, every executive is dealing with talent management and recruitment should undergo important training, while delivering the session on ‘War for talent’ at program organized by VIA HRD Forum at Udyam Hall.
Program was organised with an aim, as the present scenario of competitive world organizations are struggling to hire the best talent that will help them see potential threats and uncover new opportunities by the facilitator.
Dr Khan had given more emphasis on the biggest issue facing the industry is a war for talent, both against direct competitors, and other industries. In today’s Globalised World, employees have more choices than before, the pay and benefits systems are outdated, people are the competitive advantage not capital, strategy or R&D and new generation/culture of expectations.
He elaborated that revealing the history behind the term ‘War for talent’, Dr Khan said, “It was coined by Steven Hankin of McKinsey & Company in 1997.” He added that it refers to an increasingly competitive landscape for recruiting and retaining talented employees.
Khan believes there is war owing to the limited pool of talent. Defining propelling reasons for this war, he said, “War for talent has always existed. But, today, it is not just challenging, it is downright complex. The driving reasons are skill gaps and talent shortage, changing demographics, changing face of talent and business turbulence. Everyday, people are grappling on how to look at businesses.”
In this globalized world, employees have more choices than before, the new generation has a culture of expectations. The pay and benefits scene is outdated and people want bonus for the extra work they do. Today’s manpower does not demand only salary. They need a purpose and meaning in the work they do.”
Suggesting solutions on how to win the war for talent, Khan led to the belief of having more sophisticated techniques to attract, engage and retain individuals. He mentioned points like reshaping jobs, helping employees reshape life outside work and the balance of skills.
He placed the responsibility on HR officials to focus on the growth and engagement of internal people by having strong channels of communication and platforms of reward and recognition.
The session was followed by an interactive session where Dr Khan replied the queries being asked by the participants.
Earlier, Mr Suresh Rathi, Vice President of VIA welcomed Dr Khan with floral bouquet and in his welcome address, Rathi stressed upon the relevance of the topic in this era of the lucrative start-up culture. He said, There was a time when investors did not provide capital for start-ups. That scenario is well in the past and the times are changing rapidly. If you have an innovative idea, there is a big market of investors with various financial schemes.
Convener of VIA HRD Forum, Ms Neelam Bowade, conducted the session and also introduced the speaker. Co-chairman of the forum Mr Suresh Pandilwar, proposed a formal vote of thanks. Ms Anita Rao, Mr Sanjay Johari from Eros Group; representatives from KEC International, Lupin Limited, Bajaj Steel Industries, Reliance JIO Infocom Ltd., NTPC Mouda, R C Plasto Tanks & Pipes, and HR professionals were prominently present.