What the big resignation means for CCGs – Latest trends in digital transformation | Cloud News
As we look beyond 2021 and the pandemic, it has become evident that we enter 2022 with a completely different and equally difficult set of issues. In recent years, the âwar for talentâ has placed particular emphasis on the demand for high-end digital talent. Today, the challenge of finding talent has spread across all industries and departments and has turned into increasing attrition rates, higher internal salary demands from employees and rising rates. billing in a range of professional skills.
Access to large-scale and future-ready talent has always been the foundation of the Indian GCC marketplace. While cost arbitrage brought GCCs to India, the supply of easy and highly skilled talent kept them staying and thriving. Today, the Great Resignation and the challenges of hiring and qualifying are driving CCGs to rethink their approach to talent. Talent strategy has become a board agenda item and is seen as a competitive differentiator for CCGs.
Three attributes differentiated the pioneer CCGs:
- Agility to refine talent strategy and rapid decision-making with a long-term vision
- A shift in mindset from the perspective of short-term GCC-specific needs to anticipate and resolve future skill demands
- Focus on building talent management solutions not only for the CCG, but for the global business
CCGs realize that classic attraction and retention strategies are now relegated to âcommon differentiatorsâ. The main initiatives undertaken by top CCGs include:
Programmatic L&D initiatives: These could include identifying future business needs, mapping the CCG’s existing skills inventory, and creating workable roadmaps for skills development. Gamification and on-demand training are also increasingly prevalent, along with critical success factors such as hyper-personalization of learning paths, the use of technology for large-scale and rapid interventions. , and appropriate incentives for employees
Diversity and inclusion: Diversity and inclusion have become an essential part of culture, HR policies and any GCC’s efforts to modernize the workplace. CCGs use it to improve their positioning as employers of choice and to tap into underutilized pockets of talent, such as returning mothers and rural workers.
Out-of-the-box talent acquisition methods – Successful CCGs hire in alternative sectors, hire workers remotely, partner with the external ecosystem and seek to acquire. Increasing virtual engagement with potential employees has also gained ground
Rigorous performance monitoring and reporting: Focus on inputs rather than results when it comes to talent initiatives, as these initiatives often bear long-term results
Take advantage of new generation technological tools and platforms: Finding the right balance between people and technology is essential. Blue-chip CCGs have leveraged internal technological capabilities and the external ecosystem more effectively. Greater use of technology does not guarantee success, but – when done right – it certainly improves the chances of success.
With the increase in talent wars, only companies that take the time to introspect, modify and refine their Employee Value Proposition (EVP) will have an advantage in attracting and retaining talent. Often, employees are tired and disengaged and need more than a pay change to invigorate them. For example, company off-sites can help rekindle their sense of purpose in their work. As you seek to redefine your talent management strategy, it is imperative that you ask yourself the following questions:
- Have we effectively created and communicated our strategy for the hybrid workplace?
- Do we have leaders with the skills to motivate and lead teams in the new normal?
- How has our culture changed in the hybrid work environment?
- Have we empowered our employees?
- Do employees feel valued? Or is work just a transaction?
- Are we offering the right career development for our employees?
- Are we a workplace or a community?
Click here to read more about Everest Group’s research on GCC evolution and talent themes.
Author: Prashray Kala, Vice President, Everest Group (bio).