Navigating the Talent Journey: Insights from the "Recruit, Develop & Retain" Panel
I recently attended the People Matters L&D Conference 2023, one of the largest Learning & Development conferences in India, where I had the privilege of moderating the "Recruit, Develop & Retain" session, delving into the intricacies of talent management! Joining me on stage, were three esteemed panellists - Anindya Shee, Vice President of Jio Platforms; Ritu Agast, HR Director, Pearson India; and Rutinder Negi, Head of Learning & Development at Bajaj Finserv. Bringing together leaders from diverse industries to provide a spectrum of insights.
Employee diversity was our first topic, and we discovered that by 2025, a staggering 75% of the workforce would likely be millennials. This realization flagged an important implication for any L&D strategy - this generation craves career development. Startlingly, over 50% of millennials left their jobs in the previous year, due to insufficient career support. To address this, we agreed that our learning strategies must be flexible and provide personalized learning paths to nurture their growth.
Next, we explored the pressing issue of the skill gap. It was disheartening to learn that 70% of organizations struggle to find the right talent, which hampers their growth. According to Korn Ferry's "Future of Work Findings", by 2030, this skill gap could lead to unrealized annual revenue of approximately 8.5 trillion USD. We all recognized that L&D had a significant role to play in alleviating this challenge. We rallied behind the belief that innovative learning strategies, embracing digital platforms and self-learning programs, were essential in fostering a culture of continuous learning and empowering employees to continuously upskill.
Amidst the discussion, we couldn't ignore the waves of technological disruption emerging within the realm of L&D. We marveled at the potential of Generative AI, already transforming various industries. It became clear that as L&D professionals, we needed to adapt to these technological changes swiftly. Without staying ahead of the disruption, we risked facing difficulties in finding the right talent fitment for our organizations.
Throughout the panel, our memorable moments were filled with diversity in perspectives. Each panelist vividly shared real-world examples from their organizations, painting a practical dimension to our conversations. We reveled in the richness that arose from the varied experiences and approaches to recruitment, development, and retention strategies across industries.
As our discussion drew to a close, we identified three key takeaways. Firstly, we emphasized the need for organizations to adopt a holistic approach to talent management, recognizing the interconnectedness of recruitment, development, and retention. Secondly, we embraced the importance of adaptability in the realm of learning, understanding that continuous learning was the foundation for employee development. Lastly, we stressed the significance of creating an employee-centric workplace, where career growth and a positive work environment were at the forefront of retention strategies.
The People Matters L&D Conference panel was not solely a conversation; it sparked a fiery catalyst for action. The invaluable insights shared by Anindya, Ritu, Rutinder, and the collaborative spirit of our discussions are bound to shape the strategies adopted by organizations moving forward.
Leaving the conference with a heart full of gratitude, I realized that this experience had broadened my perspective and connected me with a passionate community of professionals dedicated to the transformative field of Learning and Development. With eagerness in my heart, I looked forward to more opportunities for learning, growth, and impact in the ever-evolving landscape of L&D.
Ganesh D Iyer is the Global Head for Learning & Development at IBS Software, where he spearheads technical training initiatives. He is passionate about catalyzing growth through comprehensive learning strategies and has a proven track record in technical training, assessment methodologies, behavioral coaching, and transformative leadership programs.
Over his 17-year career with IBS, Ganesh has driven excellence and innovation in the realm of learning and development and played a pivotal role in developing a successful self-learning ecosystem.