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Media and Entertainment (M&E) is one of the faster growing sectors of the Indian economy, and its importance in democratic growth of our country is an open secret. Proving its resilience to the world, the Indian M&E industry is on the cusp of a strong phase of growth, backed by rising consumer demand and improving advertising revenues. According to the KPMG – FICCI Report 2016 and 2017, radio will likely grow at a CAGR of 16.1 per cent. In such a scenario, hiring and retaining the talent is of utmost importance to a firm to achieve market dominance. M&E being a service industry creating and implementing a suitable talent management strategy to achieve organizational goals is of utmost importance. Some policies/strategies that would help in recruiting and retaining talent at M&E organisations are:
What remains at the centre of the process though is that hiring managers and HR practitioners alike need to make informed decisions when dealing with the tricky job of picking the right talent to run businesses. The decision becomes even more critical when the businesses in question are extremely people-centric. It therefore becomes imperative to aid the decision-making process by a scientific tool.
Psychometric assessment tests and behavioural inventory tools come handy for hiring managers and HR professionals to make informed choice. Psychometric tests and behavioural inventory tools evaluate the suitability of a person through his/her behaviour i.e. attitude, relationships, engagement, decisions at work and corporate citizenship. There are plenty of tests available to choose from; however in my opinion, no single test is sufficient to judge all the aspects of someone's personality and thus predict the way they will behave in different situations at work. The best way out is to use a battery of tests and pick up the most relevant attributes from each of them to make the right choice.
Making the right combination of tests is important in order to cover all the aspects/attributes that need to be measured. While there can be many such combinations, I am mentioning here a combination that has been tested to be successful in many industries i.e. media, consumer durables, to name a few. For ease of reference, let us call this combination "The Winning Four".
Using battery of these tests makes it almost impossible for individuals to fake the responses on behavioural aspects thereby ensuring the right people are only selected for the organisation.
In the nutshell, Talent acquisition and management is a business strategy that will enable organisations to attract good talent and retain their top talented employees.
About the author: Harrish M Bhatia is the Chief Executive Officer of MY FM. This article is a Viewpoint column, and the opinions expressed are solely those of the author.
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