Loved the watermelon story. I guess, one needs to adopt a hybrid approach. Develop & utilize internal talent to the extent possible, however if there is a skill gap--then hire externally
Regarding lower interest rates for housing loans and the trend abroad on people preferring bigger homes - my experience in India is we cannot attribute any trend to few factors like either lower interest rates or the need for work from home. In India due to Covid there is uncertainty of employment and regular income source also a trend to save for future and to avoid capital investment. Also poor regulation with respect to builder buyer contracts, ownership of land, tenancy agreements present their own risk. My experience of majority Indians is "let fools construct houses and we wise men can live in them" as people whose livelihoods are migratory in nature from Labour to professionals to software and gig professionals having immovable assets like a house are actually a pain in the neck.
Hearty Congratulations on completion of 4 years and wishing Abhijit Bhaduri & Associates many years of fruitful and rewarding relationships with their clients. Best wishes.
What makes companies obsessed to recruit from outside - 1) when internally the required talent is not available 2)when company needs a turnaround and there is more hope on external person 3)when there are changes in top management either because of a merger and acquisition or new gaurd replacing old who wishes to have a handpicked team. There are multiplicity of factors like these.
It is always better to invest in in-house talent as opposed to buying talent on need basis as trust, familiarity of the ecosystem and culture fitment remain as issues. Not only that when talent is brought at a high cost it will upset internal Apple cart as it means devaluing internal experience and skill set also buying talent in the long run proves expensive to investment cost in talent. However this always needs to linked with salary benchmarking and affecting corrections so that home gown talent is retained.
I think companies want to understand what other companies are doing, mainly their processes, how can they benefit from the experience and culture. Sometimes they might want to change the internal monotones that exist within and create some competition for employees by pushing them outside their comfort zones.
Interesting thought Abhijit and agree with you. In my view, a constant focus on developing talent within and investing on the key talent (than on every leader around), works best in favour of both the organization and the employees. However when there is a need to hire a skill that is needed to have that competitive edge in the market and the organization is not adept at (or could not envisage) , organizations should not hesitate. It should be a fine balance to strike.
Great insights on Talent Management - Talent of the future are abundant just needs the right eye to spot them ... Many organization have deep pockets and so willing to look at internal options .... that may not be an agile approach !
I like the stories on book cover design and external hires. When I buy books, I prefer ones with a clean, easy and less-chaotic designs. Of course, the author and the brief on the back cover is also important.
On External Hires - Most companies do not make it easy for external hires. It is left to the employee to make it work. It makes me wonder why they hire externals at all! Also, going by this measure, Indian government jobs don't have many external hires and therefore they stand to gain from it!
Loved the watermelon story. I guess, one needs to adopt a hybrid approach. Develop & utilize internal talent to the extent possible, however if there is a skill gap--then hire externally
Excellent notes as always.
Regarding lower interest rates for housing loans and the trend abroad on people preferring bigger homes - my experience in India is we cannot attribute any trend to few factors like either lower interest rates or the need for work from home. In India due to Covid there is uncertainty of employment and regular income source also a trend to save for future and to avoid capital investment. Also poor regulation with respect to builder buyer contracts, ownership of land, tenancy agreements present their own risk. My experience of majority Indians is "let fools construct houses and we wise men can live in them" as people whose livelihoods are migratory in nature from Labour to professionals to software and gig professionals having immovable assets like a house are actually a pain in the neck.
Hearty Congratulations on completion of 4 years and wishing Abhijit Bhaduri & Associates many years of fruitful and rewarding relationships with their clients. Best wishes.
What makes companies obsessed to recruit from outside - 1) when internally the required talent is not available 2)when company needs a turnaround and there is more hope on external person 3)when there are changes in top management either because of a merger and acquisition or new gaurd replacing old who wishes to have a handpicked team. There are multiplicity of factors like these.
It is always better to invest in in-house talent as opposed to buying talent on need basis as trust, familiarity of the ecosystem and culture fitment remain as issues. Not only that when talent is brought at a high cost it will upset internal Apple cart as it means devaluing internal experience and skill set also buying talent in the long run proves expensive to investment cost in talent. However this always needs to linked with salary benchmarking and affecting corrections so that home gown talent is retained.
I think companies want to understand what other companies are doing, mainly their processes, how can they benefit from the experience and culture. Sometimes they might want to change the internal monotones that exist within and create some competition for employees by pushing them outside their comfort zones.
Interesting thought Abhijit and agree with you. In my view, a constant focus on developing talent within and investing on the key talent (than on every leader around), works best in favour of both the organization and the employees. However when there is a need to hire a skill that is needed to have that competitive edge in the market and the organization is not adept at (or could not envisage) , organizations should not hesitate. It should be a fine balance to strike.
Great insights on Talent Management - Talent of the future are abundant just needs the right eye to spot them ... Many organization have deep pockets and so willing to look at internal options .... that may not be an agile approach !
I like the stories on book cover design and external hires. When I buy books, I prefer ones with a clean, easy and less-chaotic designs. Of course, the author and the brief on the back cover is also important.
On External Hires - Most companies do not make it easy for external hires. It is left to the employee to make it work. It makes me wonder why they hire externals at all! Also, going by this measure, Indian government jobs don't have many external hires and therefore they stand to gain from it!