Beef up for talent war
Over the past few years, the resilience of organizations has been stress tested across various parameters — from remote working to climate disruptions, changing customer behavior and supply chain dynamics, to high employee turnover.
These near-simultaneous disruptions forced organizations to calibrate their response to these crises in a short time. It required business and HR leaders to collaborate more closely to address the rapidly emerging and mutating challenges, especially on the people side.
A broad and holistic approach to people and performance management will help build a future-proof resilient organization. This article explores the various dimensions of talent management required for global organizations to flourish.
New business demand and the additional need which has arisen due to attrition have created a significant resource demand-supply gap resulting in a sharp increase in the salary expectation of job seekers. Organizations are recruiting in large numbers and paying a premium, causing a significant pay inequality within the organizations. They need to control these outliers and ensure loyal and trusted employees are also proactively addressed with the right incentives to retain them.