The Hindu Business Line : `Present HR challenge is to retain talent'

Mr G. Viswanathan, Chancellor, Vellore Institute of Technology, flanked by Mr Sankar Viswanathan, Pro-Chancellor, and Mr V.A. George, President, India Cements Capital and Finance, Chennai, during a BL Club meeting.

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Chennai Jan. 23 Price reduction is the general trend in every industry. In marketing, it is suicidal in the long run. Instead, a marketer has to look at how to add value to the product. Only through value addition, a company can increase its revenues and bottom line in the long run, Mr V. A. George, President, India Cements Capital & Finance Ltd, told the students of VIT Business School.

Delivering a lecture under the Business Line Club series, Mr George said, "For instance, take the case of some of the players in the airlines and telecom companies. Their objective is to build market share and to gain market share they undercut prices thereby destabilising the industry."

Talking about the present trend in the human resources management, he said, if the human resources of an organisation is managed well, it can face the competition head on. The present HR challenge is to retain talent. "Delayed gratification is an old concept. `I will do this, and what can you pay me' is the order of the day."

Today human relations are more artificial and have hit very low trust levels. Companies need HR managers with empathy and right attitude to hear the untold stories of others which may be in their eyes, gestures, and mind and in their actions.

In his inaugural address, Mr G. Viswanathan, Chancellor, Vellore Institute of Technology, said India has a tradition of Business and Management. Even when no proper practices and policies were in place, Indians were doing business with the West and the East. Now the West has gained momentum and a majority of the East also has a place in the global business space. "What happened to us? Our challenge is to find out what happened to our tradition and regain our management excellence," he said.

Others present on the occasion were Mr Sankar Viswanathan, Pro-Chancellor (Academic), VIT University, Dr Anand A. Samuel, Dean - Management Studies, and Prof K.T. Rangamani, Co-ordinator, PG Studies.

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