Experienced to Talented Minds: A Much Needed Shift for Indian Firms
In India, work experience is considered to be very important. Several young talents settle with a job that provides low pay cuts or even has poor management just to obtain decent work experience with an expectation that it would land them a better job. This seriousness of the importance of work experience is also reflected in the job advertisement that we stumble on, which reads "a minimum of 5/ 10/ 12+ years of work experience required". Over the years, Indian organizations have been demanding work experience, which has also been a serious cause for the country's one of the major issues, "Unemployment". India accounts for 8.3 percent as compared to other countries such as Japan, the UK, and the US, which marks 2.7, 4.3, and 4.2 percent, respectively.
Indian firms still believe that experience is crucial than the talent and skills of a candidate. It is believed that the candidate's experience could get exposure to deal with certain issues that only they could solve. On the other hand, talent also aids in situations, but that limits the area the candidate could apply it. But, the latest trends of young lads taking charge as CEOs of the prestigious MNCs make us think should our organizations reconsider talent over experience?
It was certainly a moment of pride for us Indians when Sundar Pichai, who joined Google as a management executive, took charge as its CEO. Also, not to forget the latest entrant to the list of Indian CEOs of global firms, Parag Agarwal, who rose to the CEO's chair at the young age of 35. These scenarios set an example for us and hint that talent and skills are more significant weightage than work experience.
Experience vs. Talent
From the organization's viewpoint, leaders must understand what a usual day brings in and the people they manage. The ideal way to obtain that knowledge is by working their way and growing in their career step by step. In that process, the individual could relate better to employees and have already handled countless issues, so they could stay cool under fire and take charge of situations. However, a person without experience has to experiment a little before leading from a place of mindfulness.
On the other hand, those with talent and practical experience are most enthusiastic and open to learning and progress. Though they may struggle while making decisions, they introduce a fresh approach and are more prospective to address the problem in ways the organization hasn't considered previously. Moreover, without innovation, a company would stall out. Hence roping in a fresh mind would not be a bad idea.
Over time a skilled person could be a better candidate post-training them. As an employer, one must put in a genuine attempt to create the perfect working environment where staff are encouraged, listened to, and cheered for their victories.
Similarly, hiring the wrong person in a role can bring issues such as lack of harmony, friction between your team and staff, and feeling unmotivated and distracted. Resultantly, it would reflect in their productivity. A recent study hints that workers could take a minimum of 23 minutes to refocus after being diverted, and, as the organization considers, time is money. It just continues to prove that a poor hire could lead to unnecessary payment and lowered productivity, so find the right candidate to fit the role and build a better working environment.
Make a Shift
The leadership roles of global companies make it evident that talent and skills are sufficient to excel in leadership roles and drive the company towards success. And it’s high time Indian firms consider hiring young talents who are flexible, open to learning and enthusiast to counter the challenges thrown to them. It is to be noted that the placement season 2021 at the Indian Institutes of Technology (IITs) witnessed companies offering jaw-dropping packages to the students.
Notably, American ride-hailing major Uber emerged as the biggest paymaster on day one of the final placements, which offered 2 crore-plus salary offers at the IITs of Bombay, Madras, Roorkee, Kanpur, Guwahati and Varanasi, according to reports. Various IITs have also announced a raise in Rs 1 crore-plus packages for domestic and international postings. IIT Kharagpur has also reported over 1,100 offers, with the highest pay package being Rs 2.4 crore a year.
According to the IITs, other organizations that have made offers this placement season include Amazon, Microsoft, Qualcomm, Boston Consulting Group, Accenture, JP Morgan Chase & Co, McKinsey and Goldman Sachs.
Siddhartha Gupta, CEO, Mercer, says, “This generation has the privilege to ask questions such as - is there meaning or purpose to our work? How much control do we have over our time? What is my organization’s contribution towards society? And lastly, do I work to live or live to work?.”
This transformation in the work culture and payment privilege gives a hint to the Indian firms to consider hiring the young talented minds on par with the rich experienced candidates as both could do justice to their role.