Human Resource leaders believe that more investments have to be made in learning and development strategies aimed at employees and that there is a need to alter these initiatives to keep up with the dynamic nature of business and speed innovation..
Speaking at the National Learning and Development Summit in New Delhi on Friday, they highlighted the changing needs of human resource (HR) as business houses increasingly face the challenge of a shortage of talent.
The summit was organized by the All India Management Association.
The two-day summit, which has the theme of ‘Developing learning strategies to drive growth – the road ahead’, is focusing on emerging trends in learning and development strategies to counter the crunch talent crunch.
K. S. Jamestin, Director (HR), ONGC Ltd, said, “Learning and development would significantly help to attract and retain talent. Global business leaders believe that retaining talent is more important than attracting talent.
“Learning and innovation are closely interrelated.”
Anusha Narayan, Head HR, Nokia India, said, “Organisations in India are already adopting the international training method and policies. We have to find ways to create communities. Learning in organisations happens 70 per cent on the job, 20 per cent by mentoring and 10 per cent by classroom training. Innovation is the key value wherein we have to ensure and allow people to learn via training but also on their own.”
Further, Sujaya Banerjee, Chief Learning Officer (Corporate HR), Essar Group, said that organisations need to realign their business strategies. “Companies need to identify core competencies and build those further to get an edge over competition,” she said, adding that competency refers to the measurable characteristics of individuals that are related to superior performance at work.