Current Trends in Talent Management
February 12, 2025
Individuals coming together on a common platform to achieve the goals of the organization as well as to earn a living for themselves are called as employees. The smooth functioning of an organization depends on its employees and their seriousness towards work. What is employee engagement? Employee engagement refers to a situation where all the […]
Knowledge management has been a buzzword amongst modern day companies for a few years now. However, many companies are still skeptical about investing significant sums of money in a knowledge management system. This is because the return on knowledge management can be difficult to measure. When companies undertake other cost-cutting or business improvement activities, the […]
In these hypercompetitive times, stress and strain are common causes for concern for all professionals. Given the fact that most professionals work for twelve-hour workdays and more, it is natural that they begin to feel stressed out and tired because of overwork. This has the consequence of upsetting their physical and mental health as well […]
Open-mindedness is another name of liberalism or progressiveness. But here in the context of Group discussion, open-mindedness is being directly referred to the traits which make you a good employee in an organization. Being open minded means that you are willing to listen to others views and have the mindset to learn without being biased […]
First and foremost, we need to understand these terms like endorsements and recommendations in the wide world of LinkedIn. To know the difference between the two, it is essential to know them first. Endorsement While creating or updating your profile on LinkedIn, you have the option of listing out your skills which talks about your […]
There is a global war for talent going on and it is being fought on one side by the multinationals that want the best talent available for themselves and on the other side, the workforce that is seeking to derive the maximum advantage from the companies. Ever since the arrival of companies like Microsoft, Google, GE, Goldman Sachs, Facebook etc. onto the global stage, the war for the right employees has heated up with these companies willing to pay astronomical amounts as salaries and humungous perks and benefits.
Indeed, the situation now is such that in b-school and engineering campuses, the fight is on for which company gets the day zero slot as that company would have access to the best talent. Often, we read about how Facebook or Google has hired a yet to graduate student for annual salaries that make one’s head reel. This is the direct result for the need of these and other companies to get the best possible talent.
Of course, with the onset of the global economic crisis, it was reported that millions of people were thrown out of their jobs including a hundred thousand well-paid Wall Street employees. This has somewhat leveled the playing field as these out of job workers jostle with the fresh graduates for employment.
However, global multinationals are yet to hunker down on their hiring strategies, as they want graduates from Asian business and engineering schools for their operations here and in the United States. The reasoning behind this is that the linkage between brainpower and corporate success has been proved repeatedly and hence, the perceptions of the multinationals that the best brains are to be found in these countries. This has made the business school graduates from countries like India much sought after. The moot point here is that the combination of skill, training, aptitude, and motivation is what sets apart the graduates from these countries from the West.
This situation has become worrisome for domestic companies that find themselves in later day slots on graduate schools’ placement sessions. Of course, they have not given up entirely since the labor pool is so large that it can provide enough employees for any number of employers. Though we have discussed the positive aspects of the war for talent, it needs to be mentioned that concerns over employability of the graduates or their suitability for jobs have been raised by many companies. Which means that the graduates in the workforce who are employable and who have the traits discussed above are at a premium when compared to other graduates? This is the real war for talent, which can be rephrased as the war for the creme-de-la-creme of the available talent.
Finally, with globalization of the world economy, talent need not be hired from the domestic market alone and this is another factor that is contributing to the war for talent.
In other words, the various aspects described here are the business imperatives that are driving this phenomenon. The ones who are laughing all the way to the bank are those graduates who have invested in themselves and acquired the necessary traits to perform in a global economy.
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