In 1997, Steven Hankin from McKinsey coined the term “war for talent”, which became popular in 2001 after the publication of the book that bore that name. After the Great Recession, the war for talent turned into the war for jobs.
According to McKinsey, top talent can kick-start an organization’s productivity. In a recent study of over 600,000 researchers, entertainers, politicians, and athletes, it was found that high performers are 400 percent more productive than average ones. Businesses also showed similar results, and the gap grew as the complexity of the job increased. In highly complex occupations, such as information- and interaction-intensive work performed by managers, software developers, and the like, high performers are 800 percent more productive.
Technological advances, globalization, mobility, new attitudes… There is an ever-increasing change in the employment scene, and understanding it is crucial. It is no longer possible for companies to wait and see what happens.
Balaji Viswanathan, Managing Director and CEO of Expleo Solutions Limited, spoke with Economic Times India Leadership Council about his vision for the future work place. To learn more, watch the video.