Vinita Nair

Once a Client Director won a deal of $2 billion from one of the European client. His team was all excited to work towards a plan in setting up a project team which can match the client expectations and help the company make more profits. But soon they realized that they would be unable to do so without – right people. This scenario is common to any business that we may operate in. What we fall back on, is setting the right WORKFORCE STRATEGY that has been every CEO s concern since past few years. Considering the change in demographics, economic & political scenarios that every business is going through today, it is crucial that we design our workforce strategy around talents. Finding skills is no big deal, there is loads of it in the market, but to find the right one at the right time is a challenge. In addition, 80% of the skills that are available in the market is suitable for low-medium complexity jobs. To find the right talent for high complexity jobs, is an uphill battle! Solution? It’s high time, the recruitment focuses on the human aspect of talent. Trying to incessantly, meet the client requirements, we tend to ignore the fundamental aspect of hiring a talent, their competency and mindset. The building blocks of right strategy centers on skills fungibility, coaching and mentoring and most importantly, rewarding the HiPos. Millennials today are more demanding in their careers, they value their career track and flexibility more than dedication & long service. As per the latest statistics, US loses around $30.5 billion per year due to turnover of millennial employees. Corporations need to be willing to embrace the uniqueness that this age group provides. A strategy is nothing if hasn’t factored in the human element of the assets that we own – our people. Hence it’s very important for us to start acting on these human aspects than focusing only on business strategies and profits.