MEENAKSHI VERMA & MAYUR SHEKHAR JHA
http://economictimes.indiatimes.com/...ow/1855714.cms
TIMES NEWS NETWORK[ SATURDAY, AUGUST 05, 2006
NEW DELHI: You’ve heard of shadow Cabinets... but ever wondered what shadow resourcing is all about? Here’s your guide. With companies battling the prospect of losing their key officials at the drop of a bonus, head hunting is turning pro-active. Shadow resourcing allows head hunters to keep a replacement ready even if the incumbent is very much in the saddle. That way, if and when s/he does leave, the succession is smooth and hassle-free.
Already an established practice in some western countries like the UK and the US, shadow resourcing is fast gaining ground in attrition-hit India Inc as well. For head hunters, it’s the next logical step after constant talent mapping. As part of the practice, firms are in constant touch with the board of directors and other key functionaries in rival companies.
‘In India, there isn’t much attrition at such high levels at present. As such, as of now, the need for shadow resourcing is limited but it might rise in future.’
In the event of a key executive leaving, head hunters are ready with an immediate replacement.
For example, recently one of the directors in a leading multinational bank was poached by an upcoming retail venture. But thanks to shadow resourcing, the search firm was able to spot a replacement from another multinational bank almost immediately. Says Uday Chawla, managing partner of head hunting firm Transearch: “Talent mapping at various levels has been there for quite some time. Now, in the form of shadow resourcing, it’s being implemented at the top management and board levels of companies.” Agrees Rajeev Thakur of Grassik Consultants: “It is only recently that executive search firms like ours have been approached by companies to do shadow resourcing. But it’s just matter of time before placement consultancies will be asked to do it on a regular basis.”
Not everyone, though, agrees that the trend is picking up speed. Some in the HR and staffing solution business say that shadow resourcing is still a stray phenomenon and will take a while before it turns into a trend. Achal Khanna, country general manager, Kelly Services, says: “In India, there isn’t much attrition at such high levels at present. As such, as of now, the need for shadow resourcing is limited but it might rise in future.”
According to Khanna, companies also use specific retention tools and policies for people handling such critical functions. “Another reason is all of HR outsourcing for a company is not handled exclusively by a single agency,” she says.
From India, Pune
101http://economictimes.indiatimes.com/...ow/1855714.cms
TIMES NEWS NETWORK[ SATURDAY, AUGUST 05, 2006
NEW DELHI: You’ve heard of shadow Cabinets... but ever wondered what shadow resourcing is all about? Here’s your guide. With companies battling the prospect of losing their key officials at the drop of a bonus, head hunting is turning pro-active. Shadow resourcing allows head hunters to keep a replacement ready even if the incumbent is very much in the saddle. That way, if and when s/he does leave, the succession is smooth and hassle-free.
Already an established practice in some western countries like the UK and the US, shadow resourcing is fast gaining ground in attrition-hit India Inc as well. For head hunters, it’s the next logical step after constant talent mapping. As part of the practice, firms are in constant touch with the board of directors and other key functionaries in rival companies.
‘In India, there isn’t much attrition at such high levels at present. As such, as of now, the need for shadow resourcing is limited but it might rise in future.’
In the event of a key executive leaving, head hunters are ready with an immediate replacement.
For example, recently one of the directors in a leading multinational bank was poached by an upcoming retail venture. But thanks to shadow resourcing, the search firm was able to spot a replacement from another multinational bank almost immediately. Says Uday Chawla, managing partner of head hunting firm Transearch: “Talent mapping at various levels has been there for quite some time. Now, in the form of shadow resourcing, it’s being implemented at the top management and board levels of companies.” Agrees Rajeev Thakur of Grassik Consultants: “It is only recently that executive search firms like ours have been approached by companies to do shadow resourcing. But it’s just matter of time before placement consultancies will be asked to do it on a regular basis.”
Not everyone, though, agrees that the trend is picking up speed. Some in the HR and staffing solution business say that shadow resourcing is still a stray phenomenon and will take a while before it turns into a trend. Achal Khanna, country general manager, Kelly Services, says: “In India, there isn’t much attrition at such high levels at present. As such, as of now, the need for shadow resourcing is limited but it might rise in future.”
According to Khanna, companies also use specific retention tools and policies for people handling such critical functions. “Another reason is all of HR outsourcing for a company is not handled exclusively by a single agency,” she says.
From India, Pune
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