Failure to attract or retain top talent is among the top business risks in India besides cyber attack or data breach, and business interruption. According to the 2023 edition of Aon’s biennial Global Risk Management Survey, attracting or retaining top talent is the fourth biggest risk facing organisations globally, and is predicted to remain the fourth most critical risk by 2026, according to the survey.
Top performers and talented hires are the lifeblood of an organisation, and companies that fail to attract and retain these employees consistently can struggle to maintain their overall business performance.
People Matters spoke with HR thought leaders to understand their talent acquisition and retention approaches. They share how they’re taking care of employee needs personally and professionally. Watch the video here:
Respect employees and demonstrate social responsibility
Employees should be engaged holistically, believes Himal Tewari, CHRO, Chief – Sustainability & CSR, Tata Power. To maintain overall business performance, he says businesses should take care of employees and demonstrate social responsibility. “Having a warm and welcoming culture provides a strong employee value proposition based on three pillars: sustainability, inclusiveness, and growth.”
Take good care of employees for sustainable growth
For Sonal Arora, Country Manager at GI Group Holding, acquiring and scaling new talent and retaining existing talent is crucial for sustainable growth. “It is important to note here that talent retention is also vital for new talent acquisition because it enhances employer branding and cultivates a positive company culture, which, in turn, attracts better talent.”