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Increasing difficulty in matching supply and demand for jobs; how can companies go beyond?

Ranjit Khompi, Head HR, Reliance Power Electronics Ltd.


India is growing at a rapid pace and at the same time, technological advancements and insufficient skills are deterrents to talent availability. Organisations can take a systems thinking approach by combining the following methodologies:

Planning: Utilize predictive workforce analytics and AI to forecast future job demands while identifying skill and HC gaps. This enables the mapping of potential talent shortages well in advance for focusing on internal or external talent pools.

Internal Talent:
Establish, drive and measure skill proficiency upgrades so that employees acquire the skills needed to succeed in current roles as well as get ready for emerging roles. Gamification of skill development and career paths encourages employees to upskill and explore potential internal jobs.

Job-sharing AI-based platforms or talent marketplaces promote internal mobility by allowing employees to transition into new roles within the company and also can support exploring recommendations.

External Talent:
The use of advanced recruitment technology can streamline the hiring process and efficiently identify the right candidates, the way Google saved time and improved the quality of hires. AI-driven talent scouts can continuously monitor external talent markets, identifying candidates who might be open to new opportunities.

Open-source talent development by sharing training materials and resources with the broader industry or community can create a talent pool with standardised skills and some affinity towards the organisation.

Build and nurture online communities where professionals with specific, niche in-demand skills can connect, learn, collaborate and participate in open innovation challenges.

Flexible work options and remote work clusters offer the possibility of tapping talent from regions with a surplus of qualified professionals. Temporary crowd-sourced projects can provide access to global talent without long-term hiring commitment.

Partnership with educational institutions creates a steady entry-level pipeline through internship programs, allowing students to gain practical experience while the company identifies potential future hires.

Subscription-based services provide access to a curated pool of pre-vetted freelancers and gig workers for on-demand talent needs. Additionally, organisations can develop programs that reskill them to meet evolving skills, ensuring a more agile and adaptable workforce.

A combination of focusing on both internal and external talent, while tapping the existing pool and creating a new workforce will enable companies to meet talent demands.

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