Managing a generation that is technologically connected and savvy, is both an opportunity and a challenge
Managing global talent is becoming critical - 'Tiger' Tyagarajan, Chief Operating Officer, Genpact
What are the Key Trends you see in the Talent Management space today?
India Inc. is going through a phenomenal transformation in terms of its business and the way that talent is managed. This is true today not only for the IT/ITES industry but across sectors. Business Leaders are trying to solve a different set of challenges today and that has immense implication on their companies’ talent management practices.
Firstly, managing global talent is becoming critical. Organizations need the type of talent that can succeed in a global scenario. There is clearly a talent shortage in this pool of middle and senior leaders with global exposure today. One can of course build internal programs to create rotations and give exposure to employees of working in different markets but the fact that somebody is successful in one market does not necessarily mean he/she will be successful in another market. What matters is not the exposure alone but how quickly the person can learn, extrapolate and understand the nuances of each local market and adapt to it.
Secondly, managing a generation that is technologically connected and savvy is both an opportunity and a challenge. Today it is important to appreciate that “Facebook” type communication channels are important for people within the organization to connect, collaborate and also for them to feel they belong to a great workplace. Companies, including Genpact, are looking at creating “Facebook” type environments within the company to capture that trend. There are of course other issues arising from this trend in terms of security and privacy and also issues on what type of leadership is required to manage these new realities.
Thirdly and also related to the previous point, there is an increasing access to technology coupled with a higher desire from people to work virtually and this is leading to the creation of a virtual talent pool. The structures of organizations have also evolved to more partnership models of operating to adapt to those new trends. Of course, while reporting structures exist and those are more formal, the informal ways to get things done is today more collaborative and virtual.
Finally, the ways to bring talent onboard have also evolved from the traditional employer-employee relations. Technology gives us an immense opportunity to innovate in talent sourcing and engagement. For example, Genpact has recently launched a social expertise networking site called “Solution Exchange”, where experts from all over the world volunteer to be part of a community and participate in virtual groups to solve real business problems. This trend is leading to a different way of accessing expertise, not through employment but getting the best talent only when required from anywhere in the world.
What is the consequence of these Talent Management trends in the outsourcing space?
Companies are looking at bringing talent on board for those roles that are core to their business. There are two main reasons for that: one is of course a general scarcity of talent and second is the fact that companies are growing between 20 to 30% and cannot afford not having talent required to grow because they are not able to find it or retain it. Hence they tend to concentrate in recruiting those people that are core to their business, people they can attract and retain. The consequence is that a marketing company will look at bringing best talent in the areas of Sales & Marketing and a technology company will look at bringing technology experts, and so on. Leaving non core functions to be handled by the experts in those processes and opting for outsourcing. We are seeing a clear trend of companies looking at outsourcing to ensure they have the best talent & systems in those areas that are not core to them.