The Hindu : Karnataka / Bangalore News : It's all about talent retention

Online edition of India's National Newspaper
Tuesday, Jul 26, 2005

Karnataka

Karnataka - Bangalore

It's all about talent retention

Vidyashree Amaresh

BANGALORE: Effective strategy execution calls for sufficient number of effective people who have the right skills and knowledge, are placed in the right positions and guided by strong leaders. And this talent management is one of the pressing issues faced by senior human resources (HR) executives of today, said Ettie McCormack, Director, Unisys University.

She told The Hindu that market forces such as increasing turnover , aggressive competition and heightened corporate oversight have intensified the need for improved acquisition and retention of key talent. "The increasing trend of nurturing leaders within an organisation is an easy alternative to acquiring talent or poaching talent from competitors. This will only leave the employer and the employee frustrated. It is very difficult to spot outstanding performers, and if an organisation does manage to find capable people, retention is not certain," she said.

Ms. McCormack stressed upon proactive analysis and planning to ensure long-term strategic development and deployment of critical leadership.

Large organisations should develop strategies to respond to the threats and opportunities while capitalising on the strengths and addressing the weaknesses of an employee. "A company should identify and evaluate key performers and should also recognise problem creators.

They have to develop placement plans and implement them and monitor the entire process. Talent management is now a core business process in India, with many organisations seeking to maximise the value of their human resource," Ms. McCormack said.

Stressing the need to maintain a flexible corporate culture, she said large companies should avoid bureaucratic practices.

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