So the whole world it seems is tuned into the FDI in retail drama that is unfolding in India currently. On the one hand are the politicians having their specific gains which are at stake currently and on the other hand are the retail giants just waiting to gain access to one of the most lucrative emerging markets in the world. Stuck right in the middle are the consumers who will benefit from this revolution. In addition to creating new jobs, bringing in new investments and getting new technology into India, it will also bring about a whole new world of choices for the Indian consumer.
One look at the last decade in Indian retail reveals that the jobs that are available for fresh graduates in the retail sector require specialised training. Something that a lot of organisations have woken up to. Keeping this in mind most big organisations have already started partnering schools and vocational colleges in imparting job specific training to aspirants. Short term courses are being offered to aspirant keen on joining the retail sector. In my opinion, this is some thing that both the academia and the corporate world have to work together on. The future lies in integrating education and learning and for this to become a reality there has to be greater collaboration between organisations and teaching institutions. At the institute, we have already started such initiatives so that we are able to help our clients achieve greater efficiencies. From partnering banking organisations which train management graduates in basic operations, to research companies which impart practical learning to aspirants, campuses today have become a hotbed of activity for companies vying to corner the best talent for themselves.
In such a scenario it becomes essential for organisations to put their best foot forward and engage the students by providing them the right kind of opportunities to explore their passions and interests. Today the challenge is not to recruit the best students, but it is to retain them over a period of time, so that they deliver value to the organisation. Attrition today is not just because the youngsters have become fickle minded, the blame must also lie with the organisations as they have not been able to manage the expectations of these youngsters. And by no means am I suggesting organisations to go all out to woo students, I am suggesting that they be honest with the aspirant from the beginning so that they know what they are getting into. Today I think most organisations find it prudent to offer positions to those candidates who will be in the game for the long run. This is the best and in fact the only sustainable model for organisations to assimilate talent. After all how long will companies continue to battle it out to be the first one to offer a position to a candidate? The future lies in understanding the aspirations of these candidates and then aiming to fulfill them as meaningfully as possible for the organisation.
