HR Bulletin Volume 133

Tech trends that will hold the edge in 2023

There are multiple megatrends that futurists cite which will influence and impact businesses, processes, and workplaces across the board in 2023 and ahead People Matters gathers some top tech trends across various sectors

With technology continuing to advance amid - and to surmount the challenges of - the pandemic, there are multiple megatrends that futurists cite which will influence and impact businesses, processes, and workplaces across the board in 2023 and ahead People Matters gathers some top tech trends across various sectors

As we enter 2023 under the shadow of global economic uncertainty, the common theme across enterprises globally is the stress on cost reduction and increased productivity. Experts say this will come on the back of artificial intelligence (AI) and cloud adoption.

Trends that will shape cloud computing in 2023

There’s no doubt that cloud computing has revolutionised the way businesses operate. From making it possible for employees to work remotely, allowing flexible hours, to making business communication and collaboration a lot easier, while also amplifying the company’s growth by modernising operations and expanding IT capabilities –

cloud computing has given us all

Faiz Shakir, Managing Director - Sales, Nutanix India & SAARC Nutanix says as the dynamic macroeconomic scenario continues to strongly influence cloud economics, the year 2023 is expected to be an eventful year for the technology sector - and primarily for the cloud business.

“New decision-making around applications and their infrastructure will take precedence as companies begin to reconsider their exposure to the cost economics of a single cloud provider or a public cloud only strategy owing to the limited ability to move applications and data between clouds or to on-prem locations. Thus, portability will emerge as an important multi-cloud value as enterprises look to characterise their apps and data for optimal location in terms of performance, sovereignty, and of course, cost,” he says Shakir adds that enterprises will also prioritise consolidation of developer environments due to their potential to run development environments where they make the most sense for the business while having the flexibility to pivot and move without fear of lock-in to a single infrastructure provider

“In addition to this, untethered edge operating models will become more prevalent as applications will be expected to run all the time. Furthermore, sustainably will also emerge as a deciding factor in IT investments, globally, as companies start placing greater emphasis on how technology can lower energy costs and enable the achievement of sustainability mandates.”

Rahul Joshi, CTO at Movate (formerly CSS Corp) shares his list of trends for cloud computing in 2023 and ahead.

Investment in cloud security and resilience

The industry will keep spending on cyber security and building resilience against everything from data loss to the impact of a pandemic on global business in the coming years At Movate, we have made investments in our Contelli platform which offers great cloud security and resilience

Multi-cloud to become popular strategy

In 2023, most businesses will start leveraging the advantages of diversifying their services to different cloud providers taking a multi-cloud approach This approach offers several benefits, including improved flexibility and security with no vendor lock-in.

Low-code and no-code cloud services

We can expect continued innovation in the field of hyper-scale cloud services. Low-code and no-code solutions are becoming available for building AI-powered applications for companies wanting to leverage AI/ML without getting into the complex coding job. Many of these services are provided via the cloud, i.e., people can access them “as-aservice”. This trend will pick up in the upcoming years.

Leveraging the efficiency of the cloud to meet sustainability goals

Today, sustainability is the most critical criterion in IT buying decisions

Organisations will continue to shift towards sustainable efficiencies by leveraging software and cloud-based infrastructures

Innovation and consolidation in cloud gaming

We all enjoy binge-watching and listening to music Thanks to the cloud that has brought us streaming services like Netflix, Spotify, etc , revolutionising the way we consume content today Although, streaming video gaming is taking a little longer to gain a foothold as it requires higher bandwidth than music or videos. With the ongoing rollout of 5G and other ultra-fast networking technologies, 2023 could be the year cloud gaming will impact.

AI/ ML developments to follow in 2023

Out of all the technologies that have been introduced over the last few years, AI has proven to be one of the biggest buzzwords in the IT industry. Every year, new use cases are being discovered and are becoming feasible with advances inAI and efficient hardware.

Joshi shares a few examples that can help companies to be more efficient in leveraging AI

Advanced cybersecurity

AI and ML can be used to enforce best cybersecurity practices, reduce attack surfaces, and track malicious activity proactively More and more companies will start to invest in building AI systems that can analyse large volumes of data, including malicious code, malware, and code anomalies, to help cybersecurity teams identify potential threats

Efficiency in IT operations

Read more at : https://www.peoplematters.in/article/technology/tech-trendsthat-will-hold-the-edge-in-2023-36750

Skills, flexibility, diversity: Top trends that will shape FMCG industry in 2023

Monetary benefits and job security are not enough to motivate this generation, which rather prioritises work-life balance, mental well-being, and purpose-driven roles while weighing their opportunities, says Amit Prakash, CHRO, Marico Limited.

The talent landscape has seen a major shift in the past few years with employees getting more demanding. To be the employer of choice for the workforce of the future, organisations must adapt to the changing preferences of the newage workforce.

The future workforce believes in driving meaningful outcomes and expects organisations to give them the freedom to be themselves and trust them to get the job done

Amit Prakash, CHRO, Marico Limited, says monetary benefits and job security are not enough to motivate this generation, which rather prioritises better work-life balance, mental well-being, and purpose-driven roles while weighing their opportunities "The workforce of tomorrow is mindful of the kind of companies they want to be associated with, one who respects individuality, have significant sustainable impact, ensures flexibility and support them in their own purpose towards society," he adds. In an interaction with People Matters, Prakash shares the top talent trends that will be fundamental for any organisation to create a future ready workplace.

Upskilling: The key to building the workforce of tomorrow

The need for upskilling and reskilling of employees is more pressing than ever in today's rapidly changing economy. With technology and globalisation transforming the workplace at an unprecedented rate, organisations must ensure that their employees have the right skills to stay ahead of the curve. Organisations that invest in upskilling…

Read more at: https://www.peoplematters.in/article/talent-management/skillsflexibility-diversity-top-trends-that-will-shape-fmcg-industry-in-2023-36767

Startup scene in India takes a hit: Funding drops to a 5-year low in Jan 2023

PE/VC funding to India's startup ecosystem, the third-largest globally, nosedived even further in January compared to the US and China, the two other top startup ecosystems

India startups are staring at an uncertain future as private equity and venture capital funding slumped to a 63-month low in January. Blame it on rising macroeconomic uncertainties, a trend that could continue for at least the first half of 2023.

According to Venture Intelligence data, Indian startups raised $630 million in January from PE/VC investors across 121 deals, the lowest by value since September 2017, the year entities raised $148 3 million across 39 deals

A host of factors such as uncertainties caused by accelerating inflation, rising global interest rates, the spectre of recession confronting the West, and the war in Europe disrupted supply chains

Industry observers expect the slowdown to continue, at least in the near term, as investors wait for valuations to rationalise

Ashish Kumar, Co-Founder at Nandan Nilekani’s Fundamentum Partnership, explained the reasons to moneycontrol.com.

“The first half will be tough for all (global) startups in general and not just Indian. The reason is the tentativeness of funds to invest because of global uncertainties. It is indeed a function of startups needing more time to grow to justify the valuations at which it will be prudent for startups to raise funds,” he said

Going is tough in the year ahead

Reports suggest startups were raising $2 billion monthly on average in 2022 and $3 billion in 2021.

In January 2022, startups entered into 136 deals raising close to $4 1 billion, the data showed Even in the second

Read more at: https://www.peoplematters.in/news/startups/present-tensefuture-uncertain-indian-startup-funding-sinks-to-a-5-year-low-in-jan-36794

The real estate sector is poised to grow manifold in the years to come. But what does this growth mean for its employees, and their skills?

The real estate sector is on a spectacular growth trajectory as it is expected to be a $1 trillion market by 2030, according to India Brand Equity Foundation’s (IBEF) research.

By 2025, the industry will contribute 13% to India’s GDP, and this will have a direct positive impact on employment opportunities. But how will the scenario play for its employees and what do they need to take opportunity of this growth?

Mayank Ruia, Founder & CEO MAIA Estates says the real estate industry accounts for 6-7% of the economy and it has a direct impact on approximately 250 sectors “This will surely bolster the economic growth of our country, and create serious employment opportunities,” he adds “Real Estate industry has been witnessing steady growth and as one of the largest employment-generating sector, we are expected to contribute significantly to the country’s economy,” adds Urvi Aradhya, CHRO, K Raheja Corp Both also go on to sketch the employment opportunities and requirements in this regard.

Changing talent acquisition strategies post-pandemic

The real estate sector has seen incredible growth post the pandemic. Owning a home with multiple facilities and amenities is no longer a luxury, but a necessity. However, the pandemic has significantly impacted expectations, purchasing power, and the buying behaviour of homeowners, resulting in higher demand for human capital in this industry. Developers are strategising and strengthening their teams by investing in the right talent to lead and…

Read more at: https://www.peoplematters.in/article/talent-acquisition/buildingcapacity-how-has-talent-acquisition-changed-in-the-real-estate-sector-36793

'Building capacity': How has talent acquisition changed in the real estate sector?

As the global economy becomes increasingly connected, the demand for language and communication skills is growing rapidly

Technical skills and practical expertise are exceedingly valuable traits for any professional candidate to possess. Highly trained technical professionals are, after all, challenging to come by. These candidates are the foundation of any successful business. Over 400 companies with 100,000 employees each, cited an average loss of $62.4 million per year because of inadequate communication with clients and between employees, in a Holmes report. Miscommunication reportedly costs even smaller companies of 100 employees an average of $420,000 per year. Language barriers can also have a significant impact on a company's bottom line. According to a study by the Common Sense Advisory, companies can lose up to $2.3 million per year due to language barriers. This loss can be due to a variety of factors, including miscommunication, reduced productivity, and lost business opportunities Additionally, up to 60% of cross-border business deals reportedly fail due to language barriers

Investing in Employee Development to Stay Competitive in the Future Workplaces

As the global economy becomes increasingly connected, the demand for language and communication skills is growing rapidly Companies are recognizing the importance of investing in employee development to stay competitive, and many are turning to digital assessment and credentialing tools to help them do so. According to industry studies, one of the most sought-after skills (now and in the short-term future) are all soft human skills. The demand for cuttingedge hiring solutions, like Pearson India's Versant, is surging as the need to hire top talent across all industries grows. Pearson Versant is helping companies to stay competitive in the global economy by providing them with a digital assessment platform, that they can utilize to evaluate the language and communication skills of their employees…

Read more at: https://www.peoplematters.in/article/training-development/thefuture-of-work-a-shift-towards-soft-skills-and-constant-upskilling-36762

The future of work: Ashift towards soft skills and constant upskilling