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Winning Today’s Talent Race

The competitive digital business landscape is forcing organizations to become better at recognizing the workforce skills they will need, well before they need them. When companies become reactive in filling key jobs, they have a hard time securing critical talent at the moment of need. The result is they lose out on key hires to companies that have articulated their talent requirements.

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Winning Today’s Talent Race

  1. 1. Winning Today’s Talent Race PERSPECTIVES VOLUME 8 Ajoy Mukherjee Global Head and Vice President, Human Resources Copyright © 2017 Tata Consultancy Services LimitedFebruary 2017
  2. 2. HR professionals need to let go of traditional hiring and retention practices to compete for talent Winners Foresee Talent Needs Companies must identify requirements ahead of the moment of need HR departments should become agile to anticipate the next wave of skills and retain their best talent SKILLS
  3. 3. IT is experiencing a skills shortage in artificial intelligence, the IoT, and Big Data and analytics Managing the Talent Crunch Digital technologies are redefining jobs in every business function Manpower Group says 1 in 3 employers struggles to fill jobs due to talent shortages Accurate forecasts of attrition and business growth help a company prepare for growth and predict talent needs
  4. 4. 1. Develop your existing people 2. Find people who learn continually Winning the Talent Race 3. Screen more rigorously 4. Bring brands to campus 5. Use digital channels to hire and screen 6. Build a strong employer brand
  5. 5. Focus on internal development and cross-training to retain employees Begin your search for talent internally, not externally, and ‘groom your own’ 1. Develop your existing people Give people opportunities to practice the skills they’ve learned
  6. 6. Hire people with a proclivity to learn new skills and acquire knowledge The shelf life of knowledge is reducing rapidly so new learning should be quick and frequent 2. Find People who Learn Continually Personal attributes such as attitude, emotional intelligence, and collaboration are becoming more important than specific technical skills
  7. 7. Re-evaluate your emphasis on soft skills during hiring Use social media, alongside traditional methods, as part of a more rigorous approach to background checks 3. Screen More Rigorously
  8. 8. Strengthen your brand image to compete with digital startups in the battle for talent Build relationships well before you need to recruit 4. Bring Brands to Campus Provide learning materials to institutions that build brand equity and enhance your company’s reputation
  9. 9. Make social media a key hiring channel as recruitment becomes a high-tech enterprise Use analytics tools to predict future needs 5. Use Digital to Hire and Screen Forecast talent requirements effectively to make your HR function a strategic business partner
  10. 10. Strengthen your company’s reputation as a great place to work Explore opportunities such as conference speaker slots and industry alliances 6. Build a Strong Employer Brand Use social media to tell the world about the employee experience at your organization
  11. 11. Recognizing the value of cross- training but not allowing people to put their knowledge into action Withholding executive support and exacerbating cultural resistance Execution is Key to Success Focusing on hiring at the expense of retaining Avoid these common mistakes:
  12. 12. HR can learn from the agile iterative approach of startups and be prepared to change tack when needed The HR function can become an engine of growth and help the company identify future talent requirements HR as Digital Business Partner
  13. 13. Copyright © 2017 Tata Consultancy Services Limited Winning Today’s Talent Race Contact a Consultant Read the Article

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The competitive digital business landscape is forcing organizations to become better at recognizing the workforce skills they will need, well before they need them. When companies become reactive in filling key jobs, they have a hard time securing critical talent at the moment of need. The result is they lose out on key hires to companies that have articulated their talent requirements.

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