HR Leaders Urge Swift Action On Industry Knowledge Gap

Organisations are expanding their horizons to harness opportunities and contribute to overall economic growth. Central to this expansion is the critical task of onboarding the right talent an imperative to manage budgets effectively and recruit individuals who not only possess the necessary skills but can seamlessly integrate into the company's culture, foster the growth. Often, organisations turn to fresh talent from colleges to meet their workforce requirements. However, this approach comes with its set of challenges, including a mismatch of skills with industry needs, outdated curriculums and the adjustment to work culture.

Recognising these challenges, industry human resources (HR) leaders gathered at the BW People Nurturing Talent for Future Conclave & HR 40 Under 40 Awards, for a panel discussion and shared their insights into the diverse strategies they employ to effectively hire and nurture talent, while ensuring it becomes a catalyst for the continued growth and success of their respective organisations.

Industry Exposure through Campus Outreach 

Yadhu Kishore Nandikolla, head of human resources at MassMutual India, shared a holistic approach for preparing students for the corporate world. He said, “Mentoring students, engaging with faculty and providing small corporate projects not only rewards talent but also offers invaluable corporate exposure, making students industry ready."

Kishore further added, “college graduates, due to their current education system, often possess limited knowledge about industry requirements. To bridge this gap, fostering industry-applicable knowledge through campus outreach programmes, guest lectures from industry leaders are key.”

Pitching Right Requirements 

Deepnarayan Tripathi, group head HR at Tenon shed light upon college graduates lacking the necessary skills for their designated roles, attributing this deficiency to the outdated and theoretical nature of the current educational curriculum.

He highlighted, "In today's scenario, most college graduates lack the requisite skills for the industry they have been hired for. The current educational curriculum is bookish and outdated, failing to prepare young minds for the practical demands of the industry."

Tripathi emphasised for the need for educational reforms to produce industry-ready individuals. Moreover, he highlighted the evolving requirements of the Gen Z workforce, emphasising the importance of a flexible and motivating work environment. Tripathi suggested that organisations should make potential employees aware of the company's requirements and work culture during the hiring process to align with the changing expectations of the new generation and right talent.

Performance Based Training & Hiring 

Biren Anshu, chief human resources officer (CHRO) at Novus Hitech shared, “Leaders believe in the skills. We hire fresh college graduates for a 6-month internship programme, providing them with industry exposure and firsthand corporate experience. This allows us to test their fitness for permanent full-time employment accurately."

Speaking about strategic approaches on hiring fresh college graduates, Anshu said, “Offering a 6-month internship programme ensures that candidates gain valuable exposure to the industry and a deep understanding of the corporate work culture. This proactive approach enables the company to make well-informed decisions when transitioning interns to permanent full-time roles, ensuring the selection of talent with both the right skills and practical training.”

Unlocking Talent Beyond Borders

Nupur Nagpal, chief human resources officer (CHRO) at Myntra Designs, sheds light on the company's unique approach to talent acquisition. “By organising yearlong competitions in educational institutions, Myntra not only recognises outstanding individuals but also provides them with an opportunity to join the organisation. This proactive engagement enables students to understand industry expectations while assisting companies in discovering promising talent.”

Nagpal emphasised on Myntra's commitment to inclusivity by actively recruiting from tier-2 and tier-3 cities, where latent talent often goes unnoticed. The focus is on identifying individuals with a strong work ethic and ambitious career goals, irrespective of their educational backgrounds. This approach ensures that the organisation nurtures a diverse and dynamic workforce, driving innovation and success within the organisation.