Moving Beyond The Challenges

The war for talent has existed since time immemorial. Only, it has become all the more competitive and fierce today. And, with the very definition of competition changing altogether viz. Ford competing with Google and Apple, Marriot competing with Airbnb, etc., and the talent pool remaining the same, it shall continue to be all the more fierce.

- Alok Kumar

The war for talent has existed since time immemorial. Only, it has become all the more competitive and fierce today. And, with the very definition of competition changing altogether viz. Ford competing with Google and Apple, Marriot competing with Airbnb, etc., and the talent pool remaining the same, it will continue to be all the more fierce.

Challenges faced by organisations

Some of the challenges faced by an organisation vis-à-vis talent today are:-

Recruitment: Finding the right candidate - right in terms of culture, personality, and the identity of the organisation, and, who would fit in their organisation, and be productive for a long time. And, once you find them, how do you entice them to be a part of your journey? Showing and selling them purpose, will be the key in getting them on board.

Talent Management: Hiring the right candidate is half the battle won.

However, there will be recurring challenges to retain and manage them, and, if there is a significant mismatch in terms of culture and values, and, when organisations fail to provide them with a purpose, and, hand them the opportunity to expand and grow with right guidance and support without being micromanaged.

Old performance ratings system: The traditional performance review generally follows a set practice - goal setting at the beginning of the year and a review by the front line manager at the end. However, this format poses certain challenges. Firstly, since reviews are done at the end of the year, there is every probability of the so termed "recency bias" to creep in. Recency Bias refers to the idea that more often than not, only the most recent behaviour or accomplishment of an employee will be remembered by his/her manager.