There is common trend prevalent amongst organization across the globe from past couple of years concerning employees leaving away their cushy corporate jobs for seeking a taste of start-up life. Some of the key reasons behind employees such a bold step is:
- Live up the passion
- Stressful job
- Robotic routine life
- Lack of clarity/growth at workplace
- Just out of curiosity
- Society influence
A strange thing to be noticed about these start-ups is their diversity & work culture which depicts the broad vision, risk taking ability & innovative intellectual capability of such workforce. Though, the start-up success rate is quite low in comparison to its rate of inception, but it is enough to ring the alarm in the HR department, struggling to retain the talent.
If we carefully analyse the culture at such start-ups, the insights provides a view of actual human expectations in terms of work environment, challenging tasks & compensation benefits which they wished to desire in their regular jobs. Eventually, start-ups end up offering their services to these large organizations not as their employees but as their clients thereby generating some considerable revenues. Else, they might get acquired by some of them leading to a safe exit. The irony of such corporates is that they end up paying hefty price for the same piece of work to these start-ups which they could have managed to get done in a fraction of price by retaining the talent.
Though some organizations have started taking considerable steps to promote start-up culture within their structure but still the struggle to retain the talent exists. The reason behind this concern is the changing generation. Gone are those days of top – down hierarchy structure where lower levels used to follow management instructions. The Gen Y (millennials) & Z desires an open, flexible & self-sustaining working environment free of traditional work practices. The digital technology disruption has connected the world leading to exchange of thoughts & ideas amongst people across the globe at an immense faster pace. This has led to a broad shift in human thought process & intellectual capabilities.
The organizations need to understand & accept this unavoidable generation shift and take measures to accommodate the change. Setting up Talent Harness Labs focused on understanding employee’s passion & taking necessary steps to ensure their passion gets an equal growth opportunity alongwith their skills. The organizations in return have an immense opportunity to commercialize their key assets passion into their new line of business portfolio. Harnessing the hidden talents can not only transform business process but, also maximize the use of employee potential. Regardless of the industry, successful organizations are those who are able to discover the talent within them and are able to leverage it effectively.
Passion, when combined with skills always generates impressive results powered by innovation.
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