Anshuman Das, CEO and Co-founder, Careernet, has two decades of experience in the search and selection and technology industry. He started his professional journey with Careernet after a short stint at Infosys. A strong networker by nature, Anshuman set up Careernet’s executive search practice and has also been instrumental in making the company a leading talent solutions provider in the country. Anshuman is a career coach to some of the well-known business and technology leaders in the country and has accelerated their journey from campus to boardroom. Anshuman is a renowned speaker across industry platforms focused on how to build high impact teams and has featured in several media and news forums. Anshuman is a Bachelors of Engineering from IIT Delhi and serves on the board of Top Rankers and IndiQube.
The phrase “war for talent” was first coined in the early 1990s, when global demand for talent surpassed the available pool. Fast forward 22 years and the demand for talent still growing at an exponential rate, employees have become more interested in job-hopping to search for better packages and opportunities, and the available workforce started to thin drastically. Technological advancements and globalisation, combined with the recent pandemic, have prompted HR leaders to look outside the box in order to attract the best candidates for their companies. With remote hiring becoming increasingly prevalent around the world, the potential to discover the right talent is no longer restricted by a candidates’ location. Employees nowadays are more selective than ever about the companies they apply to.
Given this predicament, it can be difficult for recruiters and hiring managers to discover the best candidates for job opportunities. It is no less than a war to unearth the best talent available in the market at a time when every organisation is competing to hire them. Who wins this talent war is largely determined by how well an organisation strategises its hiring practices in order to combat challenges presented by ever-shifting paradigms. In the midst of all this global disarray, companies must choose between hybrid or remote work, the need for qualified talent acquainted with the global digital transformation has risen like never before, and workplace diversity has resurfaced as a critical priority
Rising challenges in talent acquisition
Industries are seeing significant levels of hiring as economies rebound and many early-stage businesses receive incentives. Larger organisations and well-funded startups are both on the lookout for the best talent in the market. This tremendous level of hiring isn’t simply a regional trend; it’s a global one.
According to recent studies, high employment numbers are projected to persist in the foreseeable future. As a result, short-term solutions are not enough if companies want to continue to attract the best candidates for their job positions. It is crucial that organisations develop more inclusive hiring policies in order to win this talent war.
Today, as IT talent becomes more difficult to source, recruiters have started to adopt a new strategies, particularly when attempting to diversify their workforce to include more people from underrepresented groups. Promoting diversity in hiring is a positive approach towards the growing talent crisis.
How diversity can help organisations win the war on talent
Organisations are increasingly recognising the positive influence of diversity and inclusion on their business – several studies have proven that diversity and inclusion are strongly related to an organisation’s success. According to a Gartner report, inclusive teams boost team efficiency by up to 30 percent in high-diversity contexts. As a result, diversity and inclusion should be seen as ‘non-negotiable’ for any organisation aiming for long-term success. Diversity in the workplace requires an unorthodox approach to hiring. Making a habit of exploring qualities beyond the resume like personality, ambition, and motivation goes a long way when hiring an all-round employee. Considering candidates that may lack industry knowledge but have more diversified backgrounds, can help advance innovation in a company. Companies that foster a diverse and inclusive workplace are more likely to attract top talent. This is attributable to the fact that job seekers are increasingly valuing diversity while researching companies. According to a recent Glassdoor survey, 76 per cent of job seekers and employees believe that a diverse workforce is an important factor when considering job offers. Employee retention is also improved by the same. In a diverse workplace, the blend of varied skill sets, backgrounds, and experiences fosters an environment of acceptance and belonging. Employees may learn from one another and interact efficiently, resulting in happier employees and lower turnover rates.
The significance of diversity at workplaces.
Every one of us has a unique life experience that shapes our outlook and decision-making processes. With the onset of huge continuing disruption, the various glasses through which we each view the world must be revolutionised before we can build a workforce for the future.
Diversity in the workplace has become a goal in practically every organisation today. But why is that? The purpose of encouraging diversity in the workplace is to increase employee satisfaction by ensuring all employees feel accepted. Boosting ESQ has been known to improve productivity in any organisation. It should come as no surprise that happy employees are the key to any successful business. An inclusive workplace is a valuable asset since it recognises each employee’s unique qualities and the potential they offer.
Embracing people’s differences is what brings us all together in the end, and it can be the foundation of a successful, flourishing workplace and a healthy work culture. Diversity also benefits companies by offering a large return on investment in the areas of innovation, efficiency, profitability, and talent attraction and retention, acting as a catalyst for business growth. There is no doubt that diversity is good for society and business, as it enables companies to both evolve and become more resilient in the face of challenges of the future. However it is important to also take into account that workplace diversity doesn’t end with hiring. It is inclusion that actually retains diverse talent and others too.