The widespread resentment about existing jobs that most employees are doing, resulting in mass resignations, is one of the biggest challenges that the businesses are facing in the post-COVID world, said C K Ranganathan, president, All India Management Association (AIMA) and chairman & managing director of consumer goods maker CavinKare.
Speaking at the seventh National Leadership Conclave of the professional body, he stressed upon addressing the needs individual employees in an organisation through newer human resource practises to maintain stability at the turbulent times.
According to Ranganathan, nearly 80 per cent of the employees are planning to change their jobs. This “poses a big challenge for employers. How can we build an organisation when people are not stable?”, he wondered.
“The employees are looking at what is the value that they can get. They expect their compensations to go up, they are in a hurry to grow and they do not want to do the same job repeatedly for a long period. These are important things are younger employees are now seeking and its very important that we address them”, said Ranganathan.
To address the issue, at CavinKare, the management has already initiated measures. By individually measuring the employee’s needs and aspirations and offering them newer challenges that keeps them invested in their jobs, is at the core of its strategy.
“We already have a learning and development function within HR but are looking to accelerate and individually measuring the moods of employees. The question is, what can we do to keep them engrossed in their jobs and look outside. It is being monitored and measured closely. We don’t want to keep them doing the same job for more than two years. Adding value to the job, making it interesting and challenging is crucial”, he added.
According to Srinivas Dempo, senior vice-president, AIMA and chairman of Dempo Group of Companies, retaining talent has become a “huge challenge” that is impacting even the largest of the multinational corporations.
“Every organisation needs to build a culture that defines the company and keep its employees happy”, he said. With the changing business environment and the mindset of employees, the top management needs to be more open to shared leadership, where every employee would have a say in decision making.
Further, the role of a business leader is turning significantly challenging as, apart from the internal stakeholders, they now need to be approachable by external stakeholders like the communities. “Today a large part of my time goes into staying in touch with the communities”, he said.
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