Now, Companies Bet on Practical Ways to Nurture Talent

New Delhi: Departing from traditional classroom sessions, many companies are making employees work in difficult projects to hone their skills as part of efforts to nurture talent, according to global HR firm Hay Group.
The emerging trend, seen across sectors, comes against the backdrop of challenging economic and business conditions.
Hay Group India's Leadership & Talent Practice Leader Mohinish Sinha said talent management and nurturing is becoming not just the focus of "HR department but also that of overall management".
With increasing priority to talent and leadership, companies are moving away from classroom sessions to groom employees.
"In recent times, many companies especially in emerging markets are making promising employees work on difficult projects. This would help in honing their skills besides grooming them for (future) leadership," Sinha told PTI.
According to Hay Group, business leaders would need a host of new skills and competencies if they are to succeed in the coming years.
Talent crunch is becoming a major problem for companies, especially at a time when there is high growth potential in many sectors.
Sinha said that it is "very vital" for companies to invest upfront in high potential employees. Such an approach would also help in retaining them as well as align with the companies' long term goals, he added.
Going by a Hay Group research, leaders would need unprecedented strategic thinking and cognitive skills leaders to navigate increasing global competition.
"Good implementation and execution are no longer enough -- leaders will also have to be multilingual, flexible, internationally mobile and adaptable, and culturally sensitive," it said.