`Renewal', a state of getting updated to connect with the current trend, is the gateway to the future. It is time that organizations redefine, reinvent and rediscover the processes to keep their workforce updated with the latest skills. When a company says `employees are assets', one refers to the skillful ability in them that can be evaluated and their revenue output which can be figured in the balance sheet. This article enumerates the need for an organization to update its functioning and hone employee competence. It also discusses mentoring and managing new-age skills, and how training can be imparted to the employees to bridge the gap. This vital bridge links an organization to success, financial performance, brand name and goodwill.

Training enables one to lead a life with confidence. A man is complete when he is capable of performing things all by himself or with very little guidance. This is the hallmark of mankind that can think, act skillfully and tackle issues independently. Skill is an essential part of life. The Stone Age crude tools were the forerunners of the modern improvised tools. These continuously undergo a facelift process to meet the future needs. Skill sets for domain technicalities are expected from a candidate in the interview and an employee at the time of competency mapping for appraisal.

China has the world's largest population and India humbly follows it. Considering these lines, certainly manpower in Asia has to be in abundance and if so, after achieving self-sufficiency, the surplus can be exported by 2020 for meeting global manpower needs. Time is ripe to vigorously chart a nationwide, phase-wise technical upgrading in all the organizations to inculcate the necessary skills to manpower. This is possible only if the entire employable youth and middle-aged population are potentially skilled to meet the modern day technology demands of the business. Our education pattern has to be application-oriented to suit the real time. The essential skills required by every industry have to be a part of the respective curricula and such an orientation would increase the rate of `employable graduates'.

HRM Review Magazine, Stone Age Crude Tools, Domain Technicalities, Skill Sets, Technological Advancements, Globalization, Global Management, Quality of Work Life, QWL, Management Practices, Industrial Processes, Organizational Skills, Management Skills, Technical Skills, Neuro Linguistic Programming, Strategic Business Unit.