IIM ROHTAK H U M A N E - R CLUB P re s e n t s
H R B U LL E T I N VOLUME 105
humane.r@iimrohtak.ac.in
H U M A N E - R | V O L U M E105
HR BULLETIN
Strategies followed by the hybrid leaders for retaining top talent in the amid of 'great layoffs' HR pioneers need a triumphant talent acquisition (TA) procedure to catch this ability and yield long haul business results. The present HR pioneers face an uncommon work market where leaves of absence, layoffs, and record turnover have become normal. As indicated by a worldwide organisational firm - firms across the globe are furloughing staff at a rate multiple times more noteworthy than layoffs. Simultaneously, worldwide organisations like Tesla, Meta and Netflix alongside new businesses like Vedantu, Cars24 and Mfine have declared mass cutbacks. Be that as it may, one association's lack of a decent representative can quickly turn into the increase of another. In the midst of this flood of 'great layoffs', HR pioneers need a triumphant talent acquisition (TA) procedure to catch this ability and yield long haul business results. A very much organized TA procedure can raise enlistment endeavours across the association. It can likewise reinforce ability pipelines, help distinguish, draw in, waitlist and connect top quality ability while diminishing both an opportunity to-enlist and the expense per-recruit. The right HR system for ability obtaining includes the precautionary assessment of the most recent enrolment advancements, cycles and assets that drive change.
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Build a great EVP In this flood of extraordinary cutbacks, organisations have not separated between high-performing and nonperforming abilities. Subsequently, the on-going deficiency of ability is currently being overwhelmed by a convergence of ability from various enterprises. Episodes like these present a chance for TA groups to make an exceptionally convincing and employee value proposition (EVP) to draw in these specialists. An EVP offers competitors the right harmony between encounters, benefits, organisation values and learning experiences when they join another job. A fruitful offer incorporates a positive hierarchical culture, unmistakable and theoretical prizes, solid initiative and development and improvement open doors. Make your employer brand stand out At a time when organisations are braving the ‘great resignation’ and descending to the ‘great layoffs’, an employer’s brand can influence the decision of employees to stay or join the organisation. An employer brand embodies the values, culture and workplace environment an organisation has to offer. Amidst a proliferation of online review platforms and social media channels, employer branding becomes as much vulnerable as it is important. By controlling the narrative surrounding your company through internal and external assessment, thought leadership, proactive advertising, etc., an organisation can create a unique and strong employer brand that attracts and retains talent. Identify the best sources of talent To compete in this ever-changing global economy, HR leaders need to identify and explore alternative and more creative forms of talent sourcing. Instead of relying on inbound applications, organisations should try to explore online talent marketplaces that are democratizing recruitment. Skilled TA teams should also look for passive and new-on-the-market jobseekers through an extensive search on talent networks, social media, community events, etc. Deploying a data-driven sourcing, selection and hiring strategy can help TA teams streamline the recruitment process and identify the most trusted sources of talent. Consequently, this will save hiring efforts every subsequent time the organisation needs to hire. Raid the rejects of your competitors Desperate times call for desperate measures and the job market will not be more critical than the wave of ‘great resignation’ and ‘great layoffs’. As companies dismiss employees in droves, the remaining firms still in pursuit of talent should not hesitate from hiring the great talent of their competitors. organisations like Uber and Facebook have often resorted to poaching talent from their competitors and while some organisations may draw the line at talent poaching, raiding the rejects of one’s competitors is within reasonable bounds. By hiring the laid-off talent of one’s competitors, organisations not only offer these employees a life jacket but also become better and more insulated. Develop data-driven & tech-enabled solutions Despite immense popularity, data analytics and HR tech solutions are still widely underutilized across talent acquisition teams. By leveraging the latest technologies such as data analytics, artificial intelligence, automation, etc., HR teams stand to gain better awareness of their applicants, improve their recruitment process and measure the performance of their TA teams. If organisations cannot afford to deploy technologies themselves, they can partner with organisations that have access to specialized HR tools and technologies that assist in talent acquisition and retention. This will dramatically bring down the time lost on unmatched candidates as well as reduce employee turnover. Wrapping Up Each association has an extraordinary meaning of ability securing and their ability obtaining technique contrasts too. However, the need of great importance today for associations overcoming the unpredictable and problematic powers from the Incomparable Renunciation to the Incomparable Cutbacks, is an ability securing technique that assists them with obtaining, drawing in and selecting the best up-and-comers. Staying up to date with the most recent patterns, best practices and valuable open doors will assist HR pioneers with directing their TA groups through any entanglement.
Read more at: https://www.peoplematters.in/article/strategic-hr/strategiesfollowed-by-the-hybrid-leaders-for-retaining-top-talent-in-the-amid-ofgreat-layoffs-34577
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H U M A N E - R | V O L U M E105
The Great Reciprocation: Loyalty is a twoway street In recent times, loyalty has gone from being a prized characteristic of the model employee to an antiquated appendage that prevents the free flow of human capital. What have we lost in the process? As he lay dying from a dagger wound, a man confided to his wife, "I cannot die without telling you the truth. I cheated on you throughout our marriage. All those nights when I told you I was working late, I was being unfaithful. And this year I had made up my mind to abandon you." She looked at him calmly and said, "Don’t fret now. Who do you think stabbed you in the back?" I apologize for altering a joke so old that it’s more taste-free than tasteless but I have been reminded of it every time there’s been a headline about the Great Resignation. Though that somewhat klutzy phrase was first used by Anthony Klotz, it seems to have become the defining problem of HR management since Covid times. Even in India, where the tragedies of the great retrenchments far outnumbered resignations, given the levels and job types that resigned, HR’s attention was hypnotized by the uncoagulating bleed. Unlike the joke, the culminating departures are plain for all to see. What’s frequently missing in all the exit drama is the equivalent of the disloyal partner’s guilt. This column attempts to provide it. From cooperation to loyalty Cooperation, starting with kin and progressing to ever larger aggregations of people, was among the primary reasons for the supremacy homo sapiens acquired.1 The benefits started flowing from an early stage. "… [E]ven in foraging societies people regularly cooperate with many unrelated individuals. …[S]ocial life is regulated by shared moral systems that specify the rights and duties of individuals enforced, albeit imperfectly, by third party sanctions."2 With the passage of time, societies that perfected large-scale cooperation between greater proportions of their populations (while reducing the transactional costs through lubricants such as trust)3 came to dominate the globe…
Read more at : https://www.peoplematters.in/article/strategic-hr/the-greatreciprocation-loyalty-is-a-two-way-street-34519
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H U M A N E - R | V O L U M E105
HONO's commitment: Understand the problem, create a transformative solution to resolve HR pain points In an exclusive interaction with People Matters, Mukul Jain, founder and CEO of HR tech company HONO, together with latest big investor Aakash Chaudhry - who will join the HONO board of directors and be actively involved in guiding business operations - open up on their competitive advantage in the fast-evolving HR tech solutions market. The HR tech start-up market is booming, as organisations seek to address the complex issue of not only managing their employees but transforming them, and attracting talent in the post pandemic working arrangements. HR tech company HONO is among those seeking to address the growing demand with its services and solutions. The Gurugram-based startup raised $5 million in Series A funding this May led by leading deep-tech investor Aakash Chaudhry, managing director, Aakash+BYJU’s, India, India’s largest test-preparation company. HONO achieved twofold growth during FY22 and now intends to scale the business and their sales vertical, and plan to double their client numbers, with founder and CEO Mukul Jain planning to double client numbers across India, the Middle East, and Southeast Asia such that the HONO platform will support 5 million people in FY23. In an exclusive interaction with People Matters, Mukul Jain, founder and CEO, HONO, together with latest big investor Aakash Chaudhry - who will join the HONO board of directors and be actively involved in guiding business operations open up on their competitive advantage in the fast-evolving HR tech solutions market. They discuss the opportunities that the new markets hold for the platform, and how they plan to leverage them to their advantage in the comin The Sweet Spot According to Jain and Chaudhry, the SME (small-to-medium enterprise) segment is very ripe for HR tech products and solutions, because there, the decision making is faster and more transparent…
Read more at: https://www.peoplematters.in/article/employeerelations/honos-commitment-understand-the-problem-create-atransformative-solution-to-resolve-hr-pain-points-34518
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H U M A N E - R | V O L U M E105
More professionals interested in companies that offer work-from-home indefinitely About 51% professionals believe working remotely did not change their productivity levels and nearly 31% say they used remote work to upskill to new courses and develop new skills, reveals a recent survey. More professionals are looking for jobs at companies offering permanent remote work, reveals a survey by BridgeLabz, a marketplace for deep tech talent. About 91.47% of the participants said they are interested in joining the company offering remote work indefinitely, 48.81% of respondents prefer working remotely, and 27.78% prefer the hybrid model, says the Work Model Preferences survey, which saw participation from more than 1000 men and women, of which 49.60% are working remotely, from Tier 1, 2 & 3 cities of the country. Interestingly, 51.59% of the respondents believe that working remotely did not change their productivity levels. 31.13% of the participants used remote work to upskill to new courses and develop new skills, while 23.41% felt working remotely helped increase work efficiency. More than 70% of people think they found better job opportunities working remotely. “It is interesting that when companies are planning to open up offices to full strength, most professionals prefer or are looking for remote work. It indicates that the companies must consider the working model preference while formulating job offers. Given the competition in the market for talent, companies have an uphill battle at hand,” said BridgeLabz founder Narayan Mahadevan, talking about the survey findings.
Read more at: https://www.peoplematters.in/news/employeeengagement/more-professionals-interested-in-companies-that-offer-work-fromhome-indefinitely-34551
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H U M A N E - R | V O L U M E105
'Necessary revamp': Why organisations must redesign workplace layout to maximise outcomes in post-Covid era Realising that it is vital not to impede changing requirements of today's workforce and be adaptable to evolution of work, along with the necessary support infrastructure, companies are making significant changes to their workspaces to ensure they stay ahead of the curve in the new normal and beyond. The role of the workspace in developing the organisation's identity has become more significant in the past few years and more so with the changing demographic and culture of the workforce. With the Covid-19 pandemic upending our lives, businesses have adapted to a flexible work culture. This further raises the need to rethink the way offices work and how their layouts are going to make sense in the new normal. “In recent years, office desks have shrunk given the widespread adoption of technology. Further with Covid-19 ramifications, businesses have suffered huge losses and downsized their workforce," says Kunal Sharma, founder and CEO of interior design venture Flipspaces, which leverages technology and workplace strategy to serve Fortune 500 companies, startups, and coworking spaces across the globe. "Workspaces now need to be adaptable to ensure they stay ahead of the curve and the use of technology would only help them adapt to the new normal and beyond. “Today’s offices are meant to be spaces that exude culture, comfort and a sense of belonging,” he adds. “With big tech replacing human effort at a rapid pace, the only qualities that are irreplaceable are creativity and innovation…
Read more at: https://www.peoplematters.in/article/employeeengagement/necessary-revamp-why-organisations-must-redesign-workplacelayout-to-maximise-outcomes-in-post-covid-era-34464
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