In today’s world talent is a precious commodity. The economy is moving from a manufacturing to a knowledge economy. In that context companies are increasingly finding it difficult to find talent and finding it more difficult to retain them. In addition to that, a new generation has entered the work force Gen Y who are extremely ambitious, demanding and connected. Managers are finding it difficult to handle this workforce. In the current context, organisations have to seriously think, rethink about the talent pool they have and should also think how they should cultivate talent within to ensure that a steady talent pipeline is available.
For that to happen, HR has to be seen as a strategic function than a supporting function. A study by Mercer clearly states that HR managers want to move up the value chain but feel that they are not equipped to handle the responsibility because of lack of exposure / experience. For HR managers to move upstream, they should objectively analyse the current situation of HR in their organisation and what needs to be done to move away from traditional processing mentality to a strategic approach.
Many HR managers want to move from a process to a strategic stream. Many studies have shown that although there is some progress, a lot needs to be done to alter thinking. To do that, HR should become a board room agenda and HR managers should demonstrate the reasons why it should be a top priority amongst leaders.
For that to happen, HR has to be seen as a strategic function than a supporting function. A study by Mercer clearly states that HR managers want to move up the value chain but feel that they are not equipped to handle the responsibility because of lack of exposure / experience. For HR managers to move upstream, they should objectively analyse the current situation of HR in their organisation and what needs to be done to move away from traditional processing mentality to a strategic approach.
Many HR managers want to move from a process to a strategic stream. Many studies have shown that although there is some progress, a lot needs to be done to alter thinking. To do that, HR should become a board room agenda and HR managers should demonstrate the reasons why it should be a top priority amongst leaders.
POSTED BY ; PREETI KUMARI
PGDM III SEM, 'B'
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