Dearth of Talent: Myth or Reality,

India and Global Context

Ketul Shah
Manager - HR
AGENDA

Definition - Talent

Dearth of Talent – Myth and Realities

Global Talent Context

Talent crunch – India and Globally

TALENT - Definition

Talent consists of those

individuals who can make a
difference to organisational
performance, either through
their immediate contribution
or in the longer-term by
demonstrating the highest
levels of potential.
 MYTHS:
Young employees don’t have values.
Younger employees are less loyal to
their organization than older
employees.
To retain younger employees, all you
DEARTH
need is give them money.
OF Older employees are less interested in
learning on the job than younger
TALENT employees.
Older and younger people want
different things in their leaders.
REALITIES:
All generations have similar values –
they just express them differently.
Loyalty depends on the context,
rather than the generation. There is
no evidence that younger workers are
more or less disenchanted than their
Elders.
It is as easy or difficult to retain a
young person as an older one – if you
do the right things.
Everyone wants to learn – more than
just about anything else.
People want leaders who are credible
and trustworthy.
 THE WAR FOR TALENT : THE MILLENNAL WAY

W H O THEY ARE WHAT THEY WA N T

Tech-savvy Work/life balance

Multi-tasker Transparency

Connected Collaboration
 Shortage in specific region / Industries

Mismatch of Attracting
Skills International
talent

Shortage of Connect to
Skills global talent
market

Global Talent Context

Talent crunch - India
Three external factors—demographic change, globalization, and the rise of
the knowledge worker—are forcing organizations to take talent more
seriously.

But the threats don’t come solely from the outside; companies themselves
have made matters worse.

- Labour turnover is increasing.

- Labour cost are accelerating.

- Number of Hours decreasing.

- Workforce is increasing.

- Difficulty in Selection, training etc.

- Change in workforce career aspirations.

- Retain the best people.

- Flexibility in work area.

Talent crunch – Globally
- Falling birth rates and rising rates of retirement are faced by developed
markets, while, emerging markets are producing a surplus of young
talent.

- HR professionals at MNCs in emerging markets such as China, Hungary,

India, and Malaysia have told that candidates for engineering and
general-management positions exhibit wide variations in suitability.

- Poor English skills, dubious educational qualifications, and cultural

issues—such as a lack of experience on teams and a reluctance to take
initiative or assume leadership roles—were among the problems most
frequently cited.

- Generation Y—people born after 1980—whose outlook has been shaped

by, among other things, the Internet, information overload, and
overzealous parents.

- HR professionals say that these workers demand more flexibility,

meaningful jobs, professional freedom, higher rewards, and a better
work–life balance than older employees do. their professional careers as
a series of two to three year and they will readily switch jobs, so
companies face the risk of high attrition if their expectations aren’t met.
Talent crunch – Globally
- Another challenge, as companies expand into new international markets,
due to globalization, to succeed in countries such as Brazil, China, India,
and Russia, organizations must have executives willing and able to work
abroad, they also require talented local people, with an international
mind-set, who understand local ways of doing business and local
consumers.

- Knowledge workers, the fastest-growing talent pool in most

organizations, have their own demands and peculiarities.

- Knowledge workers are different because they create more profit than
other employees do—up to three times more—and because their work
requires minimal oversight.

- Finally, the technology supporting its work has created faster and better
ways to share information, and that further drives the demand for such
workers and their potential impact.
Thank You