2. Table of contents
Foreword
Being Social - It’s impact on Talent
Acquisition
The Five C’s of Talent
The Talent Paradox
Ideal sourcing mix
Talent Fast Forward
Consumerization of Technology
Glimpses from the roundtable
2 l www.Workplace2020.in
3. Foreword
Employers worldwide agree
that
it’s
becoming
increasingly difficult to find
the right talent needed to
fuel organisational growth
and sustainability. Friction
points in supply and demand
and shifting skills sets will
call for a radical rethinking of
how companies source and
deploy talent and work.
The future of workplace is
fast evolving and is getting
impacted
by
multidimensional
changes
including changing work
force demographics, quality
of talent pool, competitive
compensation
structures,
technology enablement and
social media engagement.
Organisation
need
to
develop blended talent
acquisition strategies to
attract
and
hire
top
candidates
—
creating
sourcing plans that include
social media and employer
branding. HR Leaders have
to
find
recruitment
technology not only to reach
candidates but also to assess
and provide analytics on
those candidates.
Finding the right talent is critical for transforming the company, and building comprehensive talent
recruitment plans that unify business goals and talent aspirations.
This session of the Workplace 2020: HR Roundtable series witnessed exchange of thoughts by HR Leaders to
explore, identify and share some key learning’s from Indian businesses with respect to the latest practices
and future trends in talent acquisition.
- Ankur Sethi, Founder & Director
Corporate Shiksha
3 l www.Workplace2020.in
5. The Five C’s of Talent
Capability
Capacity
Risks around the succession into critical roles and retention of critical people and
teams. In other words, will an organisation be able to create and maintain the size
and shape of workforce needed to deliver its business plan?
Compliance
Risks relating to employee behavior, regulations and laws. This category covers
both the need to ensure talent processes comply with local laws and regulations,
as well as whether talent management is seen as a business critical process or an
administrative process simply to ‘be complied with.’
Cost
What is the risk of a workforce becoming unaffordable? What will it cost an
organisation to recruit and retain the people it needs? Will it be able to afford the
overall cost of its workforce?
Connection
The 5 C’s of
Talent
Risks associated with building the skills an organisation needs to compete now
and in the future – the breadth and depth of skills and capabilities present within a
workforce, and how well aligned these are to an organisation’s needs.
What is the risk of an organisation’s top talent becoming disengaged? In addition,
will an organisation’s talent-related processes remain sufficiently integrated? Will
it be able to share talent between units in the way it needs to? Is it able to connect
groups of high potential people together? Are leaders able to create an emotional
connection between high potentials and the business?
Source: KPMG Talent Risk Survey Report
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7. It Depends: the ideal sourcing mix
Getting the match
Psychological needs
Values
Goals
Abilities
Personality
Age
Person
Environment / Culture
Source: Kristof (1996)
Components
Intrinsic and Extrinsic rewards
Demands of a job or role
Cultural values
Industry
Economy
For all entry level positions, campus is the best and only source we rely on. For
lateral hiring, close to 30% is sourced from employee referrals and 50% from
job portals and social media platforms and around 20% from search firms.
Anadi Sinha
P
resident - Group HRM, UNO Minda
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9. Consumerization of Technology
• App based products – Shift in technology expectations means the core application tracking system
will emerge as a hub for multiple plug-in play products .
• Recruiting candidate relationship management tools, talent networks, video interviewing, social
collaboration etc. to add depth of functionality
• The Mobile Platform to be a vital part of acquisition strategy
• Expectation to see technology products emerging in this space with functionality that is equally as
robust as in the standard software
An organization must trust its entry gates and be rest assured that if that is
appropriate, the right talent shall definitely fall in place. Background Check of
the job-seeker is a must, their past is a predictor of their future. Talent
acquisition analytics are a key driver here.
Ajay Chowdhury
President and CHRO, SRF Limited
9 l www.Workplace2020.in
10. Being Social - It’s impact on Talent Acquisition
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11. Being Social - It’s impact on Talent Acquisition
•
“A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.”
•
- Wayne Gretzky
Source: KPMG Human Resources and Social Media Report
11 l www.Workplace2020.in
13. The Talent Paradox
1. Demographics in India’s favour
How much gets put in the “bucket”: By 2020,
India is set to become the world’s youngest
country with 64 per cent of its population in the
working age group
Source: OECD
Young
Population
2. Soft Skills
Survey of 303 employers by Federation of Indian
Chambers of Commerce and Industry (FICCI) in 2010
found a majority of graduates lacked adequate "soft
skills" to be employed in the industry
Only about one-third employers were satisfied with
the communication ability of their employees and
about 26 per cent with their employees' writing
ability
Data Source: Hindu and India Today
13 l www.Workplace2020.in
Talent Pool
Soft Skills
15. Talent Fast Forward
Demographic Shifts
Technological Advances
In Europe, the median age could rise to
52.3 by 2050.2. In the United States, one
in four workers will be over the age of 55
by 2030
Many middle-skill jobs will begin to come
under threat
over the coming decade. The use of big
data for recruitment can give the whole
picture
Future of
Talent
Landscape
Gobalisation
Between 2000 and 2012, the number
of Fortune 500 companies has
increased in Brazil, India, China and
South Korea, and fallen in UK, France,
Germany, Japan and the United
States.
Societal Pressures
Skills gap can be attributed to the
failure of stakeholders to
coordinate. Collaboration between
education systems, employers,
governments and individuals is
essential
Not everything that can be counted counts and not everything that counts can
be counted. The next big thing in the future of workplace is big data. The
challenge for the HR teams is to build meaningful workforce analytics that build
predictability for the workforce.
Pramod Sadarjoshi
Management Consulting - People & Change, KPMG Advisory Services
Source: Future of Work Research Continuum
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16. KPMG Talent Risk Report
Talent management is now firmly on
the C-suite’s agenda with organizations
competing for top talent on an
unprecedented scale. Despite the
increasing concern for talent issues,
new research findings from KPMG
International reveal that many
organizations take a narrow approach
to talent management – one that is
steadily weakening their organization’s
competitiveness and agility.
KPMG’s 2013 report on global talentrelated risk (PDF 1.1 MB)
18. Glimpses from the roundtable
Participation by Leaders from following organization (in alphabetical order)
Adrenalin
Arvind Limited
Career Builder
FIIB
KPMG India
Maruti Suzuki
Muthoot Fincorp
OSC Services
Pfizer
SRF Limited
SMC Online
Strategic
Decisions Group
Thomson
Reuters
UNO Minda
19.
20.
21. HR Leaders
Roundtable Series
Workplace 2020 Initiative by Corporate Shiksha
Corporate Shiksha™ – the learning network for Young India is
a next generation platform to nurture and grow the
capability of young and aspiring professionals. It is focused
on helping students and working professionals to get ahead
in their corporate career by facilitating practical &
experiential learning programs with a spirit of volunteerism
and social development.
Workplace 2020 in an initiative by Corporate Shiksha is an
attempt to create an learning platform on Future of
Workplace focused on corporate leaders in India and South
Asia Region. Workplace 2020, HR Leaders Roundtable series
has created a strong consortium of industry leaders to
explore, identify and showcase effective and innovative
people strategies which enable them in becoming future
ready organizations and improve overall people
management practices.
21 l www.Workplace2020.in
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