Embracing the Rental Mindset: D. Shivakumar's Insights from SHRM Talent Visionary Summit

The traditional approach to talent management is being challenged by the evolving business landscape, which is changing at lightning speed. The possibilities are endless. Companies are exploring new strategies to attract, develop, and retain talent to maintain a competitive edge. This shift emphasizes the need for a more dynamic and flexible approach to talent management that can respond swiftly to the changing market demands.

D. Shivakumar, a seasoned leader with extensive experience in the corporate world, offers valuable insights into this shift. In the recently held SHRM Talent Visionary Summit '25 session, he challenged the audience to rethink their perspective on talent. He shares his thoughts on viewing talent as "for rent" rather than "for keeps" and how this mindset can transform leadership and organizational success. This perspective emphasizes the importance of flexibility in talent management—a game-changer for organizations navigating India's vast 600 million-strong job market. 

The Rental Mindset in Talent Strategy  

Shivakumar begins by introducing the idea that talent should be viewed as "for rent" rather than "for keeps." In an era where employees could join on a Friday and leave by Monday, businesses are learning that long-term commitments no longer bind employees. They’re seeking workplaces that align with their goals and give them a purpose. Paychecks are no longer the sole determinant of employee commitment and loyalty. 

This new rental mindset in talent strategy is not a challenge but an opportunity. This shift in perspective encourages leaders to adapt to the shifting nature of today's workforce. By recognizing that employees may not stay long-term, leaders can focus on creating a welcoming and engaging environment that maximizes the value of their contributions during their tenure. 

"Talent is not for keeps; it's for rent," Shivakumar asserts. "The more we think about it like that, the more we will be different as leaders." 

The Global Challenge of Talent Management  

One of Shivakumar's key points is the global challenge of acquiring, growing, and retaining talent. Across industries, talent consistently ranks as a top priority for CEOs and board members. This highlights the importance of having a robust talent strategy that addresses these challenges head-on. Shivakumar shares examples to discuss the transient nature of today's workforce, such as an employee leaving after just one day due to not feeling welcome enough. These stories highlight the need for organizations to build a positive and inclusive work environment. 

"All organizations have a challenge of getting talent, growing talent, and keeping talent," Shivakumar explains. "Talent consistently figures in the top three considerations for every CEO, every organization, and every board member." 

The Importance of Talent in the Team

While individual talent is crucial in certain industries, the importance of talent in the team cannot be stressed enough. "Talent in an individual gives you a week's advantage. Talent in a team will give you a year's advantage," Shivakumar notes. "Think of developing talent in teams instead of just thinking of developing talent in individuals." 

He uses examples from sports and business to show how collaborative team efforts often lead to long-term success. A team’s collective talent creates a competitive advantage far exceeding any individual's. For instance, he mentions the Indian cricket team's recent success, where contributions from almost every player were key to their victory. This example highlights the value of creating a collaborative and supportive team culture. 

Developing Talent Through Training and Coaching  

Shivakumar discusses the need for organizations to focus on developing talent through training, coaching, and providing exposure. He shares his experience of being recognized as a potential CEO, which opened his eyes to new possibilities and motivated him to pursue leadership roles. This story highlights the importance of recognizing and nurturing talent within the organization. 

"Just opening the person's eyes is one part of talent management," he says. "Many times, we don't do that, and that's very crucial." 

He emphasizes the importance of coaching and exposure in talent development. "I believe coaching will be one of the big industries in India this decade," Shivakumar said. "You need to give your talent exposure if you want them to realize something in their potential." 

Leveraging Technology for Talent Management  

In today's digital age, technology plays a significant role in enhancing productivity and talent management. Shivakumar points out the growing trend of employees using AI tools and the democratization of digital talent across industries. He also discusses the need for organizations to leverage technology to streamline processes and enhance productivity. By doing so, they can create a more efficient and effective talent management strategy. 

"Technology at a fundamental level, when applied by talent, leads to productivity," Shivakumar explains. "With AI, a recent study was done last week that reported employees saving 1 hour, 30 minutes a week." 

He also highlights the concept of "bring your AI to work," similar to the earlier trend of "bring your device." This trend indicates that employees increasingly use AI tools to enhance their work processes and productivity. 

The Role of Encouragement and Support  

Shivakumar discusses the importance of encouragement and support in helping employees achieve their potential. He believes leaders should provide their talented employees with a "tailwind" rather than a "headwind," encouraging them to try new things and take on challenges. 

"A good leader gives the talent a tailwind, not a headwind," Shivakumar asserts. "Encourage them a lot more. Ask them to try a lot more things for you. That's how they will truly achieve their potential." 

He also emphasizes the need for regular reviews and backup plans to ensure that talent is effectively managed and retained. "Put talent as an item to review monthly," Shivakumar advises. "Review it every month and see what you need to do. That's the only way you have any chance in hell of keeping your talent." 

Conclusion  

D. Shivakumar's insights provide a fresh perspective on talent management in the modern business landscape. Organizations can create a more dynamic and responsive talent strategy by embracing the rental mindset, focusing on team talent, and using technology. As the workforce evolves, these strategies will be of utmost importance in attracting, developing, and retaining the talent needed for long-term success. 

The question now is not whether talent will stay but how organizations can make the most of their time with talented individuals. It’s about creating lasting value in a transient world—after all, great leaders are the ones who see potential, even if it’s fleeting.

"Talent is in staycation mode," Shivakumar concludes. "They are not here for the permanent long haul. We need to recognize it and adapt our strategies accordingly."