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The talent war will not be won on compensation: Chaitali Mukherjee, PwC India

Source | | Shweta Modgil

While the war for talent has been an unprecedented and an increasing problem since the past decade, the big shift in the past 18 months has triggered a digital and human capital transformation agenda across all organisations, regardless of industry, maturity and location. Thus the sudden increase in demand for similar skills across industries and organisations. 

This has been coupled with a push from talent, prioritising their individual priorities, sometimes choosing to move towards more flexible work options. So how can organisations fix the new talent management equation to win this war?

In an exclusive interaction with us, Chaitali Mukherjee, Partner and Leader – People & Organization, PwC India, sheds light on the critical imperatives for employers seeking to attract, retain and engage top talent and strategies that organizations can bank upon to win the war for talent. 

Workers are quitting or switching jobs in droves which some economists have dubbed the ‘Great Resignation’. In such a scenario, what are the critical imperatives for employers seeking to attract, retain and engage top talent?

Organisations would need to make a few critical choices in order to manage the talent agenda in the longer term. These could include the following:

Flexible Talent Model: To attract the right talent, organisations will need to get innovative with their talent models and make room for different talent needs. This just doesn’t mean flexibility on offer, but also hybrid and flexibility. But most importantly, not assuming and drawing a common goal for all but creating a unique plan, focused on individualised experience

Build v/s buy talent: While most organisations are talking about the challenges around attrition, this is an outcome of recruitment will have to be a short term agenda. The longer term agenda will have to be about building talent for the future that’s right for the organisation and drives the purpose of the organisation.

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