Attracting & Retaining Employees

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By

Ms Jatinder Peters, GM(HR) and Head Coordination ONGC,New Delhi

Microsoft Leadership Conclave

GLOBALIZATION AND THE INDIAN ECONOMY
India was a traditionally managed, protected economy where industrial growth was largely fueled by the government sector.  1991-92: first spate of economic liberalisation  Process of adjustment to the free-market economy has been through ups and downs 

STRATEGIES DEPLOYED IN GOING GLOBAL
Organic and inorganic growth  Adding an export component  Moving up the value chain  Creating niche markets  Searching for new markets  Global supply chaining  Bringing foreign direct investment 

RESEARCH ON GOING GLOBAL


CEO‟s indicate for going Global following important:
1.

2.
3. 4.

5.
6. 7.

Markets Manpower Technology Quality Management Systems Governance and Ethics Risk Management Management of Change and Organization culture

CEO‟S EXPECTATIONS


Manpower
       

Training for global mindset Talent management and retention strategies Global compensation strategies Insights into work ethics of different countries Competencies development Soft skills and domain knowledge training Diversity management strategies and training Social sensitivity training

HR ACTIONS FOR GLOBAL GOING
HR Planning and Forecasting  Location Planning  Job Analysis/Job Redesign  Attraction & Selection  Training & Development 

Performance Management  Compensation  Retention  Reduction/Removal 

Bullies Are Everywhere

DIFFERENT FOLKS-DIFFERENT STROKES

KNOWLEDGE WORKERS
Increasing amount of “knowledge work” requires increasing number of “knowledge workers”  Require special skills gained via extensive schooling and training and have a heavy impact on the success of the company  Responsible for “tacit interactions” 




Rely on judgment, knowledge and context

60% of US labor force engaged in tacit interactions  But increasingly more jobs (positions) will require judgment and knowledge (“talent”), thus http://www.mckinsey.com/aboutus/mckinseynews/knowledge_economy.asp

WORKFORCE –THE CHANGING CAREER PARADIGMS
OLD PARADIGMS
    

NEW PARADIGMS
    

Job Security Longitudinal Career Paths Job/Person Fit Organizational Loyalty Career Success

Employability Security Alternate Career Paths Person/Organization Fit Job/Task Loyalty Work/Family Balance




Academic Degree
Position/Title




Continuous Relearning
Competencies/Development


   

Full-Time Employment
Retirement


  

Contract Employment
Career Sabbaticals

Single Jobs/Careers
Change in jobs based on fear Promotion highly tenure based

Multiple Jobs/Careers
Change in jobs based on growth Promotion highly performance based



WAR FOR TALENT HOTTING UP

THE OPPORTUNITY FOR INDIA
 



HUMAN RESOURCES ARE INDIA’S BIGGEST ASSET. PROVIDE A UNIQUE COMPETITIVE ADVANTAGE (WITH ABOUT 50% OF THE POPULATION BELOW 25 YEARS OF AGE) TO CAPITALIZE, NEED TO ENSURE HIGHQUALITY EDUCATION AND APPROPRIATE SKILL-SETS TO A LARGE NUMBER.

SUMMING UP GENERAL WORKFORCE ISSUES
AGING WORKFORCE  RETIRING WORKFORCE  REGIONAL IMBALANCES IN WORKFORCE  INDUSTRY-ACADEMIA MISMATCH  PARADIGM SHIFT IN EXPECTATIONS OF WORKFORCE  ATTRITION OF WORKFORCE 

MAJOR CONTEXTUAL FORCES AFFECTING ATTRITION & RETENTION AND SHAPERS OF HR POLICIES  GLOBALIZATION: TRADE, FDI, POLITICAL & ECONOMIC CONDITIONS, COMPETITION, CUSTOMERS, WORKERS

 COMPETITIVE DYNAMICS: CONSOLIDATION, MERGERS, ACQUISITIONS, JOINT VENTURES, EXPANSION, RELOCATION  DEMOGRAPHICS: AGE, GENERATIONS, REGIONS

 GLOBAL,

REGIONAL AND LOCAL WORKFORCE CHARACTERISTICS:
COMPETENCIES, MOTIVATION, COMPENSATION REQUIREMENTS, PRODUCTIVITY LEVELS, LEGAL CONDITIONS

 CHANGING NATURE OF WORK: MORE KNOWLEDGE AND ENGAGEMENT REQUIRED/USEFUL AT ALL LEVELS

STRATEGIC EMPHASIS ON EMPLOYEE RETENTION
 Retaining

for


good employees is essential



The...
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