One of the biggest challenges over the next few years in the business world would be that in talent recruitment. This is because of a sudden shortage, thanks to the proliferation of new technologies, that require a more specific skill set. A lot of re- skilling efforts will also need to be worked out. In order to tide over these tough times, some methods need to be applied. One is obviously to build a talent pipeline. This is through corporate training sessions to re skill, up skill and re train the staff. Another is to redeploy them in different areas of work or different geographies. Of course, one option is to hire the best of people available at the budget. One even has the option of releasing some duties, but outsourcing or even divesting part of the business. Voluntary attrition may also be encouraged in a way. One last way to dealing with this is to rent resources. Making use of freelancers, using open source assets and forming strategic partnerships may help at this.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/are-we-long-or-short-on-talent

Uploaded Date:26 June 2019