KOCHI: Although economists and recruitment firms are constantly warning about the shrinking job markets, the human resources professionals lament about getting the right talent. Identifying the right talent and retaining the same is the biggest challenge facing human resource professionals in the era of knowledge-driven business, says Jaya Jacob Alexander, heading the HR department in Geojit Geojit Financial Services having over three decades of experience. She says getting the right person is the most critical task. "In a process-driven business ecosystem, the knowledge-base of the individual concerned is the crucial determinant in shaping the performance. The job of the HR professional is identifying the people with that fire in their belly and nurture them," she told DC.
In an industry like financial services we needed people with an understanding of financial markets and excellent interpersonal communication skills, she said. "Our staff is expected to have 24/7 interaction with the clients who are entrusting their hard earned money with us for a better return. So we needed to have people who should be able to explain and convince a potential investor on how their investment will be safe with us. So the knowledge base of the individual concerned is a primary criterion in the selection process, she said. "The second important challenge is to retain the people," she said. "It is challenging to keep the flocks in a knowledge-driven ecosystem when the attrition rate can be as high as 30 percent. The HR person needed to design innovative schemes and incentives to keep the people together."
Ms Jacob who took VRS from fertiliser major FACT in 2004 to join the brokerage firm says that the HR professionals are also required to remain up-to-date on the world of knowledge. "We needed to be one-step ahead so that we can devise innovative strategies to keep the flock together," she said. The other major issue facing the HR professional is to have a transparent intra-office communication system. "The generation today is extremely competitive and self-centred, and everyone is constantly striving to be better than the other person. There is no doubt that the competitive spirit helps in bringing out the best in every individual. But it also provides the ideal ground for intense personal rivalries that can derail the very idea of a congenial work environment. The HR professional needed to be constantly on guard to prevent such unhealthy trends," she said. "A slew of group activities are regularly held to prevent such unpleasant trends."
