Reported by: banking|Updated: August 22, 2016
With the Reserve Bank of India opening the floodgates for issuing new banking licenses, a war is imminent across the entire financial sector as zooming demand will compete for the limited pool of talent. Many will respond by taking an even more strategic approach to talent acquisition and find even better ways to to attract & retain valuable candidates. However, the true winners will be those who focus on and excel at managing the entire talent lifecycle.
While business objectives are speed, agility and innovation, talented employees seek experience, transparency and purpose. Trends such as social media as a business application, blurring of work and home, new mobile devices and evolving business models are shaping the work culture of the future. Now talent management is no longer an internal process….it is visible and competes on social media. The recent recruitment problems of certain start-ups have magnified this challenge for CHROs. Another huge opportunity for CHROs is to closely align individual goals with company goals, as seen at numerous start-ups.
A Gallup survey done globally found that, shockingly, only 40% of the employee’s know their organization’s strategies and priorities for success. Another Bersin survey revealed that 54% of employees believe they have more creativity, resourcefulness, talent and intelligence than what their jobs require. These are indeed new challenges for CHROs.
For smart leaders, each challenges is an opportunity. Banking Frontiers is exploring this thinking by calling a Roundtable of CHROs of banks, insurance companies and NBFCs. Titled The Future of Work Places, our objective is to brainstorm desired talent strategies for the future to drive talent lifecycle management to transform challenges into opportunities. We invite you to share your thoughts and experiences with your peers in this Roundtable, and take back powerful and actionable insights.
We await your confirmation to be an active participant in this Roundtable.