IIM ROHTAK H U M A N E - R CLUB P re s e n ts
H R BULLETIN VOLUME 103
humane.r@iimrohtak.ac.in
H U M A N E - R | V O L U M E 103
HR BULLETIN
Rethinking employee experience for the post-pandemic world With evolving social interactions and the effects of the Great Resignation still being felt across a host of different industries, a renewed focus on employee engagement answers the questions raised by an increasingly distributed, fragmented, and less connected workforce The past two years have been a great test of agility for HR leaders globally. In addition to guiding workforces in adapting to unprecedented changes and managing diverse work arrangements, HR leaders must also handle the challenges related to attracting and retaining talent. It is evident that the role of HR leaders has significantly expanded in terms of scope and responsibility. The pandemic has resulted in a new normal where the focus of HR leaders is shifting quickly from managing remote or hybrid workforces to increasingly strategic initiatives such as driving talent strategies and programmes to accelerate organisational transformation for positive business outcomes. According to the Workday global survey, ‘Closing the Acceleration Gap: Toward Sustainable Digital Transformation’, 64% of HR leaders expressed confidence to enact reforms that would make work better for all. For this to happen, technology must play a greater role in creating work environments that would set organisations up for long-term success.
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H U M A N E - R | V O L U M E 103 Technology key to enriching employee experience The same survey also found that although HR leaders are confident in driving organisational change and are aware of how technology can make this happen, 43% of HR leaders are not confident in their team’s ability to utilise technology effectively for optimum performance. Across most industries, a company’s greatest asset is its people, and technology can be an invaluable tool in empowering them. It is widely acknowledged that a positive employee experience can impact the level of trust workers have and, ultimately, improve performance and retention. This, in turn, impacts the customer experience, correlates positively on the revenues, and helps increase a company’s bottom line. As champions of change, HR leaders must seize the opportunity to create the best possible employee experience and enable their organisations to become innovation hubs. To do so, HR leaders must understand the motivating factors unique to their organisations and leverage data analytics to better understand employee sentiments and guide senior management in making informed and timely decisions. While a trial-and-error approach might work in smaller, close-knit organisations, data-driven insights are necessary to surface patterns and guide decision-making in medium and large-sized organisations. Having real-time insights once again highlights the need for adaptable technology to meet the demands of HR in a postpandemic world. On a broader scale, the organisation can take targeted actions to care for their people in a way that will drive personal growth, boost productivity, and support them in moments that matter. Together, these deliver an employee experience which meets the evolving needs of each employee, resulting in happier, more engaged employees who feel proud to be part of their organisation. Insight-driven employee upskilling Amid the Great Resignation, stalled career growth has been identified as one of the primary reasons for employees leaving a job. Workday’s recent insight, ‘Employee Expectations Report 2022’ found that professional growth was a common theme in feedback provided by 1.8 million employees across over 1,000 companies surveyed. The onus is on companies to help their employees develop relevant skills in areas related to career growth or upskilling, for which skills management tools have been a ‘quick fix’. However, the efficacy of these tools in managing employee skills are limited. Instead of tapping on skills management tools which work best for individual employees, companies should begin evolving to a skills-based approach in building and developing their workforce. Holistic in nature, a skillsbased approach views skills adoption as fundamental in running an organisation and achieving business goals. To make this happen, having the right digital HR solution is essential to enable this transformation. By effectively merging skills data with HR data, business leaders can gain greater insights into how the company can better achieve strategic initiatives. Having a Human Capital Management (HCM) system infused with a skills ontology, therefore, provides organisations with an effective management strategy that adopts a whole-oforganisation approach towards employee upskilling. Leverage listening tools strategically With evolving social interactions because of the pandemic, and the effects of the Great Resignation still being felt across a host of different industries, a renewed focus on employee engagement answers the questions raised by an increasingly distributed, fragmented, and less connected workforce. Rapid changes in the world of work requires more than ad-hoc surveys to get to the heart of driving meaningful employee engagement. The ability to understand and interpret employee sentiment continuously rather than through occasional annual or semi-annual surveys will be a game-changer for companies as they seek to build deeper and more authentic connections with their employees…
Read more at: https://www.peoplematters.in/article/employeeengagement/technology-and-the-employee-experience-in-a-post-pandemicworld-34438
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H U M A N E - R | V O L U M E 103
Strategies for building a hybrid workforce that works The transition to hybrid may pose some challenges for some organisations, but any discomfort is worth the benefits of employee satisfaction and growth, especially when it comes to strengthening a company's culture and competitive edge. Since the start of the pandemic, the Asia-Pacific region has quickly pivoted to remote work amidst lockdowns, fully expecting such arrangements to be temporary. Fast forward almost three years to the present day; hybrid work is now the norm. Many fintech companies were a few steps ahead of the curve when it came to remote working pre-pandemic. Being digitally native, they are free of established practices, such as presenteeism or devices being tied to certain locations, that are still a feature of work at some traditional corporations. However, as flexible work arrangements become more prevalent, businesses need to understand what makes hybrid workplaces effective. Attracting the best talent Many employees are demanding workplace flexibility in the aftermath of the pandemic, making hybrid working an imperative. Companies hoping to attract and retain the best talent should embrace this quickly, and confidently. This is because attracting the best talent – wherever they are based – is now possible with next-gen technologies. Virtual hiring should be an option when candidates cannot be physically present because it lets you get online and be in touch within seconds. It doesn’t matter if someone lives in a different city, country, or time zone, as physical barriers are inconsequential when employees contribute as effectively as ever to problem-solving and product development.
Read more at: https://www.peoplematters.in/article/strategic-hr/strategiesfor-building-a-hybrid-workforce-that-works-34414
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H U M A N E - R | V O L U M E 103
Is HR critical to business success? MSMEs don't think so Most MSME business owners believe HR departments are more about employees' interests and less inclined towards the company and over half (58%) of them say HR does not need information on the company's financial statistics, reveals a study by business consulting firm Stratefix Consulting. India's MSME sector has been the engine of economic growth for several decades. The MSMEs' success depends on their ability to attract, retain, and develop talent, but they face many obstacles when it comes to people management because of lack of resources, and deficient HR management. Adding to the challenge is the fact that over 93% of MSME (micro, small and medium enterprises) entrepreneurs have a limited or zero knowledge of even the very role of human resources (HR) in their successful functioning, reveals a study by business consulting firm Stratefix Consulting, which helps MSMEs strategise solutions for growth and scale. The survey of over 1,000 entrepreneurs/leaders of MSME companies was conducted to gauge what MSME enterprises understand about the HR department’s role in an organisation and how they perceive its role in company growth. A deeper analysis of the responses of MSME leaders and entrepreneurs revealed that 67 % of respondents think that HR is only responsible for recruiting employees. Over half 54% of respondents opined that staff training is the second most important role of HR while 34% of business owners believe HR's primary role is to increase employee efficiency. In 20% of cases, business people were not clear about the exact role of HR. According to only 15%, HR has two "important" roles - resolving employee grievances and handling benefits, says the study…
Read more at: https://www.peoplematters.in/article/strategic-hr/is-hr-criticalto-business-success-msmes-dont-think-so-34411
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H U M A N E - R | V O L U M E 103
Renavigating focus: How India Inc. will lead transformative change with ESG goals postCOVID times With the incorporation of the entire gamut of environmental, social and governance-based (ESG) decision-making into organisational behaviour, a holistic new way of thinking has emerged after the pandemic, seeking to decrease the distance between the state, the market and the civil society in ways never before. The COVID-19 pandemic appears to have fuelled a long-standing need for change in India’s corporate policymaking. The corporations, which are essentially the most tangible outcomes of the post-liberalisation economic boom of the ‘90s, have now been compelled to shift the goalpost from the singular focus on the fiscal bottom-line. Out and about, the primacy to Elkington’s ‘triple-bottom line’ approach combining financial outputs with environmental and social concerns has received a renewed focus as India Inc. sets on a new road of transformation past the pandemic’s arduous experience. With the incorporation of the entire gamut of environmental, social and governance-based (ESG) decision-making into organisational behaviour, a holistic new way of thinking has emerged after the pandemic, seeking to decrease the distance between the state, the market and the civil society in ways never before. Corporate success is no longer solely envisioned by fiscal determinants as the world continues to overcome the pandemic-led disruptions to progress made over the years. Albeit, the very definition of ‘profit’ has been overhauled by a sustainable, holistic perspective, that is now stimulating corporate giants as the hubs of change and concern for the society in its entirety. The inclusion of ESG issues under the UN Principles of Responsible Investment in 2006 first gave leading business analysts focused on ‘responsible corporate behaviour’ the impetus to gauge investor viability…
Read more at: https://www.peoplematters.in/article/employeeengagement/renavigating-focus-how-india-inc-will-lead-transformativechange-with-esg-goals-post-covid-times-34397
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H U M A N E - R | V O L U M E 103
Hybrid Hassle: Executives confident they can maintain corporate culture, but employee experience a concern Dramatically altered workplace dynamics require innovative use of technology for talent engagement and retention, reveals a new study by global professional services firm Genpact. Executives are confident they can maintain their culture in a long-term hybrid work environment, but at the same time, remain concerned about the negative impacts the pandemic has had on employee experience, says a new study released by global professional services firm Genpact. While nearly all respondents (97%) believe their company has a shared culture it can maintain in a hybrid working environment, the report, 'Tech for Progress 360: Engage employees, strengthen company culture' highlights fundamental areas businesses need to address, which if left untouched, could jeopardise their ability to maintain a community of shared values and positive employee experience. Network building Almost everyone (91%) agrees that since the pandemic’s onset, employee interactions have shifted toward problemsolving and away from socialising. While there are some positive benefits to this problem-solving focus, casual exchanges with colleagues enable people to build their networks and integrate with the culture. New-hire integration Having opportunities for employees to connect and form relationships are critical to the onboarding experience and instilling shared values from the start…
Read more at: https://www.peoplematters.in/news/talent-management/hybrid-hassle-executivesconfident-they-can-maintain-corporate-culture-but-employee-experience-a-concern34396?media_type=news&subcat=strategic-hr&title=hybrid-hassle-executives-confident-they-canmaintain-corporate-culture-but-employee-experience-a-concern&id=34396
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