Any domain which has not fully developed and settled down has various elements of ambiguity and risks attached. Largely, every human being prefers a much more settled ecosphere rather than an evolving one since they are not sure whether they will be equipped to survive and grow in the future. The competencies and skills which candidates possess today, will these stay relevant in future is the question that crosses everyone’s mind. Hence there is a large degree of apprehension with potential candidates to join start-ups and analytical organisations since there is a view that these organisations will not be able to sustain initial success and scale up.
However, it is quite clear by now that this is just a perception and not a fact, since we have adequate evidence of start-ups in various domains being funded millions of dollars for expansion. Without going into great details, some of the Indian start-ups which have been mega success stories are Ola, Dunzo, OYO, Zerodha, Delhivery, etc to name a few.
With the subject of data science and analytics experiencing a quantum growth in terms of application in various industries, the need for resources is also growing at an exponential rate. However, the availability of experienced resource pool is limited hence closures of positions with relevant resources can be quite complex. Additionally, beyond recruitment of a good fit, the challenge of “Resource Retention” is also becoming a growing challenge. Hence, innovation becomes a key element in recruitments and retention.
When recruitments for any position operates within the ‘Demand – Supply’ axis, employee costs have a tendency of rising well beyond what has been visualised. Such trends if left unchecked will tend to impact organisation financials in an adverse manner. Hence, as a proactive measure it is essential that the concept of ‘Organisation Core’ is defined and a large number of freshers with relevant skills becomes a part of the organisation recruitment strategy through a ‘Resource Pool’. This approach will tackle several recruitment risks.
Linear Thinking for the purpose of defining “Motivation Strategies” may not meet with much of success in an evolving domain. The core is all about employee retention and motivation in order to deliver higher value to key stake holders. It is therefore important to keep developing a “Catalogue of Motivational Strategies” and keep implementing each one of them in a phased manner. Human capital custodians are compelled to think deeper and wider and develop interesting initiative, which are sustainable to motivate employees at all levels of hierarchy. Motivation, which was more of HR Operations subject has moved into a Strategic HR landscape for the moment in the domain of data science and analytics.
One of key mitigator of ‘sourcing’ challenges is built around developing and consolidating brand equity of the organisation. As success in this area keeps increasing significantly, the ability to attract and retain outstanding talent gets simplified. Hence the organisation’s ‘Growth Engine’ in terms of revenues and profitability needs to be robust. It is interesting to note the core of the problem and solution lies in only one area in an evolving domain and that core will always be Brand Equity.
The challenges are exciting even if complex at times. The role of human resources is significant in this domain, since the need is more of innovative thinking instead of being strictly compliant to rules.
So, overall, Talent Sourcing in Data Science and Analytics requires the ability to operate within a framework but at the same time be adequately innovative to produce sustainable results.