How to Write General and Specific Job Descriptions
Job description is all about collecting and recording basic job-related data that includes job title, job location, job summary, job duties, reporting information, working conditions, tools, machines and equipments to be used and hazards and risks involved in it. A job description may or may not have specific purpose. It depends on what HR managers […]
The Importance of Background Checks while Hiring New Employees
What are Background Checks? In recent years, corporates have been conducting background checks on potential recruits. Before we launch into a discussion about the importance of these background checks, we will first explain what is meant by background check. To put it simply, the process of verifying the credentials of new and potential recruits before […]
Approaches to Job Design
Job design is the next step after job analysis that aims at outlining, and organizing tasks and responsibilities associated with a certain job. It integrates job responsibilities and qualifications or skills that are required to perform the same. There are various methods or approaches to do this. The important ones are discussed below Human Approach […]
Role of Assertiveness in Persuasion
Persuasion is defined as an effort to influence an individual’s behaviour and making him/her believe what you are saying. Every individual has his /her own perception about things which may change or may not change with time. Individuals who like to maintain a low profile are often perceived as weak and someone who do have […]
Role of Human Resources in Employee Development
Employee development activities refer to initiatives taken by organization and employees to enhance their skills with time and keep themselves acquainted with the latest developments. Human resource professionals play an essential role in employee development activities. Human resource professionals play an essential role in creating a culture in organization where every employee takes trainings and […]
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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