From the monthly archives: February 2011

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Customise HR for young India or lose talent’

With an increasingly young work force driving corporate India, especially people-centric service industries which account for half of the country’s GDP, HR practices will have to be re-engineered to meet the aspirations of individual employees, noted speakers at MetamorphosisMetamorphosis, an HR Summit hosted at the Tata Institute of Social Sciences (TISS).

Speaking on people challenges in start ups and scaling enterprises, Mr Pankaj Bhargav, CEO, HRMantra Software, underlined the need to keep every employee aligned to the vision. “The younger lot is not ready to accept existing HR systems to evaluate and reward performance. The days of grades and salaries are gone. Whether it is salary expectations or perks, they have their own set of expectations. We need to personalise the HR policy to address individual aspirations,” he said.

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Metamorphosis – The HR Summit

With a growth rate of around 8% GDP year after year, India is pacing ahead to be a super power on its own. This growth has been fuelled by the emerging service sectors which has changed the Global Outlook towards India. As the Indian economy looks to grow further in the coming decades, new jobs and roles are getting created with increasing complexities and requiring specific skill sets.

The existing educational system is orthodo…x in its approach and is unable to churn out suitable candidates to cater to this demand from industry. Millions of educated candidates enter the job market each year; however the challenge before the industry does not lie in the supply of talent but rather that of employability. Education and employability are not in step with each other.

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