Today, paucity of talented resources is a key issue the corporate world is struggling to overcome. Companies recruit employees just to add up the numbers. If you ask any organisation, they will say they are short of “N” hundred/ thousand resources. The widely used corporate parameter to measure erosion in resources is: percentage attrition – again just another number. So, can this scenario change? Can organisations afford to just keep on giving higher and higher salaries to retain talented resources or poach talented resource from competition? Again, recruiting from another company means shifting the fundamental problem.
The solution to this problem is: hire and groom resources. In the modern corporation, HR’s responsibility goes beyond adding numbers to the resource pool. Comprehensive, enterprisewide learning solutions, which are effecient in the short and effective in the long term, is the way forward …
Lean manufacturing shows us the way!
I do not agree that there is dearth of talented resources in the market; calling that the key issue is but circumventing and trivialising the subject.
The fundamental issue is what you have cited as – “Can organisations afford to just keep on giving higher and higher salaries to retain talented resources or poach talented resource from competition?”
“Hire and Groom” is definitely a positive approach… but IMHO it is only a plus… and not the reason to be complacent. Whilst this might work in either a monopoly or utopia… adopting this as the sole strategy, would underestimate the fundamental concern.
To assume that any employee would stick to an organisation just because it hires and grooms them – is a tad imprudent – in today’s world.
What needs to be understood is that human beings have a deep-seated, innate problem to rebel against existing norms of assumed idealism.
Every individual has been designed with different motivators and a different set of incentives are required to stimulate him/her to work.
It could be anything ranging from power, position … to ability to work happily and go home on time… green bucks being just one of them…
The key truly lies in understanding these motivators and backing them with a retention strategy.
I agree with Mr. Kannan and Mr. Vyomesh, well Insight!!
Every Person/Resource has three fundamental needs to satisfy or stay back or leave the organization – Monetary, Environmental and Recognition. Prioritization of each of the need varies from individual to individual.
“Lean Manufacturing” says-the optimal way of producing goods through the removal of waste and implementing flow.
“Lean Learning” professes – optimal way of increasing the Quality of Manpower within the organization,
Lean Learning should be a bottom-up approach, initiated by HR of the organization moving up the “Hierarchy Tree”. The major controlling elements to this approach being the immediate superiors addressing individuals!!
The point is not that organizations can or cannot retain the talented manpower (since I have never heard or read that a company has closed down as a result of someone leaving the organization)
THE POINT is how can organizations make the existing or prospective employee more valuable by Lean Learning, where a pivotal role is played by not just HR function but by the management and people involved.
As Mr. Gopal Krishnan (possibly the first Non TATA person to Head TATA Empire) once said, “No company recruits for charity, the grass isn’t always greener on the other side, ground your heels work your way to the TOP”.