Million dollar question: how to retain talent
Headhunters need to identify innovative ways to recruit and retain talent in a market where demand often exceeds the supply. “Talent is the greatest challenge in today's business environment and new and innovative hiring strategies are the need of the hour if Indian companies have to succeed in the changing global scenario,” said P Rajendran, Director and Chief Operating Officer, NIIT, and Member, Confederation of Indian Industry National Committee on HR, at a seminar organised by the CII on Friday.
According to Rajendran, hiring teams and not just individuals, hiring from the public sector and recruiting experienced people looking for second careers could be some unique strategies.
From employee friendly HR policies to gripping campaigns, everything can play a role. “It makes sense to address a job campaign at the parent as they play a role in influencing a young person seeking a job,” DP Nambiar, Global Sourcing Head, Tata Consultancy Services said.
While premier academic institutes and Tier I cities have been the traditional hunting grounds for recruiters, companies, especially in the Information Technology enabled services sector have already started picking up talent from Tier II and Tier III cities. “In terms of capability, candidates from smaller towns are as good as those coming from bigger cities," said Sandeep S Joshi, Group Manager, Human Resources, Head - Recruitment, Infosys BPO. The company hired over 9,000 people from Tier I, Tier II and Tier III cities last year. TCS made about 22,000 offers in 2007-2008 out of which only about 600 were to management graduates while as many as 4000 were made to BSc diploma holders. While employee referral is common in companies these days, Infosys BPO has a unique programme where you get incentive not just when you refer a person but also when that person in turn refers more people.
S Chandrashekhar, VP, People Relationships Management, Capgemini Consulting India, pointed out that while most HR professionals are struggling to identify efficient ways to recruit the best, not much is happening at the execution level. "How many employers return a candidate's call to confirm his/her application status, or how many companies even care to send a regret letter in case things don't work out," he asked adding, "Talent shortage is our own creation."