April 12, 2009

There is much talk about demographic dividend of India. But have the business organizations factored this demographic dividend in their talent management process? If the country is mostly young, is it not logical to have a youthful management at helm?

Unfortunately, in India, where 50% of the population constitutes of youth, barring a few exceptions, the senior management in organizations is filled with people on the wrong side of age who are generally out of sync with the aspirations and dreams of the youth. In the name of experience, it's common to side step the energy, drive, and enthusiasm of the youth.

As a long term strategy, it is imperative for Indian companies to hand over the baton to the younger generation who are more in tune with the changing realities and cultural transformation arising out of a predominantly young population. Marketing products and services to today's vast population of youth is strikingly different from what most organizations are accustomed to doing. To profitably serve the new generation of customers, a radical shift is required in almost everything a company does - from product innovation to after sales service. This can only happen if organizations bring a fountain of youth energy into their rank and file. The empowered young managers, with their own aspirations and dreams, would be in a much better position to understand how the mind of young people works and what needs to be done to tap into the youth.

Organizations which quickly grasp this reality and work towards making themselves youthful at heart as well as soul would do a world of good to their future. While those which stay glued to the old and the experienced may soon find themselves in a world that no longer exists!