Society for Human Resource Management (SHRM), the world’s largest HR professional body launched ‘Talent Management for Industry 4.0’ report in Partnership with Pragyan Advisory, an OD firm specialising in leadership, team and culture interventions. The report aims to answer the big question of what constitutes the talent management ecosystem of the most renowned and successful technology companies operating out of India and tries to provide solutions to some major HR issues in areas such as Talent Acquisition, Talent Development, and Succession Planning. Also, the report can be used as a guiding document that helps re-examine the talent management practices of organizations which are looking to reimagine their talent strategy in the new reality of work.
Talent landscape in India in the technology sector is a code that a lot of Business and HR leaders wish to crack. The causal linkage of talent’s contribution to the value of the organization is perhaps the strongest in the technology space. The disruption that tech can cause in the new age economy coupled with changing consumer preferences and the confidence generated by the past success of some of the tech unicorns, creates a space where ability to acquire, retain and engage talent has shifted from being an HR issue to a strategic business imperative.
Ms Achal Khanna, CEO – SHRM India, APAC & MENA said, “The need for HR reinvention is being felt by organizations across industries. Workers are re-evaluating their work choices, while millions are quitting for better opportunities, the idea of life built around work has been toppled over by work built around life. As we recover from the pandemic and embark on another wave of digital revolution, it’s imperative that our Talent Management practices evolve to respond to the needs of the new work reality.”
Vivek Tiwari, Founder- Pragyan Advisory, said, “The world of work changed overnight in March 2020 when we were collectively struck by the global pandemic. A lot has changed in the last two years in the way we work, manage workers and create an equitable workplace. There is no doubt that the future of work is Hybrid. Talent Management therefore has to undergo tremendous transformation to suit the needs of remote and physically co-located professionals alike.”