IIM ROHTAK H U M A N E - R CLUB P re s e n ts
H R BULLETIN VOLUME 74
humane.r@iimrohtak.ac.in
H U M A N E - R | V O L U M E 74
HR BULLETIN
Looking at work and the workforce through three lenses: purpose, potential, and perspective Through potential, organisations can reimagine the capabilities of their people in an environment where reinvention rules. Over the past two decades, 2020 was often referenced as a watershed year by which the world was to become an altered place. While that has come true, 2020 and 2021 have been epoch-making in the most unexpected ways. This (hopefully) once-in-a-lifetime event has also caused massive changes in popular perceptions of many issues. Chief amongst them is expectations that the workforce had from its employers.
In Deloitte’s 2021 Millennial and Gen Z Survey, 72 percent millennials and 66 percent Gen Zs in India said that they have made choices over the type of work they’d do and the organisations they’re willing to work
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for, based on their personal beliefs/ethics. These beliefs include a preference for purpose beyond profit, a desire to do good, and a yearning for workplaces that focus on 360-degree well-being. They were also clear about how they can contribute to an organisation’s success – it’s not just by being tech-savvy, but also through showing flexibility/adaptability, creativity, critical thinking, and the courage to challenge the status quo. If organisations are to enable work and the workforce to thrive in this state of flux, their mandate must embrace the three Ps: purpose, potential, and perspective. Purpose makes for a foundation at the intersection of economic, social, and human interest. This foundation evolves and not erodes with time and serves as a benchmark against which actions and decisions can be weighed. Through potential, organisations can reimagine the capabilities of their people in an environment where reinvention rules. And finally, perspective gives organisations the big picture, which prevents them from being paralysed by a multitude of futures and options. Imbibing every aspect of work with purpose An organisation that wants to embed meaning into each aspect of everyday work, can start by ensuring that it is creating connections across individual jobs, team objectives, and the organisation’s mission. Well-being can be internalised into every aspect of the design and delivery of work itself, such that the scales shift from output to outcome. Closely aligned is truly understanding the workforce, so that policies and programmes are geared towards bringing out their best, not just for the benefit of the organisation’s and clients’ bottom lines, but also for the benefit of the workforce themselves. Everyday actions and employee skills should also have the end objective of making an impact that matters in the organisation’s ecosystem. Leaders must focus on mentoring and coaching employees to find meaning and purpose in the work they do and delivering accordingly. While that may not happen overnight, nurturing talent will help them start slowly but powerfully − owning their roles and goals in making results happen. To move from the “existing purpose” that helps the organisation thrive, instead of just surviving, the “new purpose” should be co-created, which means that employees should have a concrete influence over the organisation’s purpose, actions that achieve it, and outcomes that emanate from it. Designing and organising work to maximise the human potential for thinking, creating, and doing Seventy-two percent of the executives in the 2021 Deloitte Global Human Capital Trends survey said that “the ability of their people to adapt, reskill, and assume new roles” was either the most important or second most important factor in their organisations’ ability to navigate future disruptions. While much has been said about the role of Artificial Intelligence (AI) and related breakthroughs in the fourth industrial revolution, an organisation’s focus should be on technology that supplements and not supplants humans. This human-machine collaboration can allow organisations to not only streamline costs, but also create value and ultimately, provide meaning to the workforce. For instance, AI can be used for robust knowledge creation and knowledge sharing mechanisms that foster collaboration and upskilling, thereby affording the organisation resilience. Such a focus on learning will help the workforce grow and adapt based on their potential, instead of being tied down by their “formal” qualifications. The perspective to move ahead from the usual and comfortable Certain bold steps can help organisations get the perspective to embrace uncertainty and shape their future, even if it means exploring uncharted territories. They must nurture the ability of their leaders to consider the larger ecosystem that may extend beyond their organisation and learn to act accordingly. For example, consider the potential futures of customer and workforce, and experiment designing an organisation that learns to cruise in the possibilities of this future; or a human approach to compensation that goes beyond market value and factors in human value in the form of purpose, fairness, transparency, growth, and collaboration. As they look for answers that will help them navigate headwinds, organisations can also get a sound perspective by challenging themselves as to whether they have been asking the right questions. If they have gathered the answers, they need to examine whether pre-existing governance and processes enable them to truly sense what is happening across the organisation and workforce. An expanded focus and influence of the human resources team can help in perspective building and consequently, recovering and thriving over the next decade…
Read more at: https://www.peoplematters.in/article/strategic-hr/looking-atwork-and-the-workforce-through-three-lenses-purpose-potential-andperspective-31900
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The dynamic role of career resilience for shaping the post-pandemic world Career resilience is the best option to thrive in a competitive environment. It is an ability of a person to adjust and adapt to career changes as and when they occur.
In the post pandemic time, where many teams are working remotely, decisions are majorly driven by data and technology, jobs are at stake. The pandemic is prompting professionals in the country to rethink their career paths with many looking at switching industries as well as upskilling themselves to advance in their careers. The COVID19 has presented the world with one of the most perplexing challenges in recent times. With employees slowly returning to work, the world needs a new playbook as the current and virtual worlds collide and reshape both work and home. We need to examine the post-COVID-19 future of work through the prism of building a resilient and healthy workforce centred on employee wellness and workforce development. Career resilience is the best option to thrive in a competitive environment. It is an ability of a person to adjust and adapt to career changes as and when they occur. When one develops career resilience, they are taking charge of their career path and developing various new skills to remain in tune with the current trends. This will help to reduce risk and strengthen mental well-being, as well as position them for enriching future opportunities. A career-resilient workforce includes employees who are dedicated to continuous learning and reinvent themselves to keep up with the changes in the market while taking responsibility for their own careers.
Read more at: https://www.peoplematters.in/article/strategic-hr/the-dynamicrole-of-career-resilience-for-shaping-the-post-pandemic-world-31868
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Top 5 priorities to boost equality, inclusion and non-discrimination at work As we celebrate Human Rights Day today, let’s identify the role of employers, leaders and employees in fostering a sense of equality and advancing human rights. "A right delayed is a right denied" - Martin Luther King, Jr. Proclaimed in 1948 by the United Nations (UN), December 10th is celebrated every year as World Human Rights Day. On this day in 1948, the UN adopted the Universal Declaration of Human Rights (UDHR), a “milestone document, which proclaims the inalienable rights that everyone is entitled to as a human being - regardless of race, colour, religion, sex, language, political or other opinion, national or social origin, property, birth or other status.” With a different theme observed every year to guide global efforts and strategies, the theme for World Human Rights Day 2021 is ‘EQUALITY - Reducing inequalities, advancing human rights.’ This year’s theme relates to Article 1 of the UDHR – “All human beings are born free and equal in dignity and rights.” “The principles of equality and non-discrimination are at the heart of human rights. Equality is aligned with the 2030 Agenda and with the UN approach set out in the document Shared Framework on Leaving No One Behind: Equality and Non-Discrimination at the Heart of Sustainable Development…
Read more at: https://www.peoplematters.in/article/leadership/top-5-prioritiesto-boost-equality-inclusion-and-non-discrimination-at-work31899?media_type=article&subcat=diversity&title=top-5-priorities-to-boostequality-inclusion-and-non-discrimination-at-work&id=31899 5
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60% Indian employers find apprenticeship effective to build productivity: Report From an organizational shift standpoint, ‘ROI on Apprenticeships’ paper suggests placing apprenticeship at the heart of workforce planning. According to a latest study conducted by Teamlease Skills University, 56% of the Indian workforce is still not skilled enough to meet the demands of the market. Ahead of the 60 years of the Apprentices Act in India - National Employability through Apprenticeship Program (NETAP), the study shows that apprentices are emerging as the primary tool for employee skill development. The study titled ‘ROI on Apprenticeships’ shows close to 60% of the employers find that apprenticeships improve productivity and 76% feel that it helps them address attrition. Addressing the occasion, Sumit Kumar, Vice President and Business Head, NETAP, said, “Apprentice programs are becoming a competitive advantage for employers; as thoughtfully structured programs deliver much more than their costs, because of higher productivity, lower attrition, lower hiring costs, and faster time to fill open positions. The war for talent is being won by employers who are reimaging their people supply chains and this ROI report suggests that offering apprenticeships is a powerful tool for this re-imagination” The study shows an increase of 22% in productivity gains from apprenticeships (a 5% increase from 16% last year). It also suggests apprentices have higher productivity than people recruited from other channels and apprenticeships offer a 19% reduction in the hiring costs…
Read more at: https://www.peoplematters.in/article/skilling/60-indianemployers-find-apprenticeship-effective-to-build-productivity-report-31906
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How should you package your employee ‘rewards’ scheme? Reward and recognition schemes that factor in the right mix of both financial and non-financial elements are must-haves for retaining top talent in the era of The Great Resignation. But, how do you go about it? The Omicron variant of COVID-19 is a reminder that the pandemic is still far from over. The substantial uncertainty is forcing organisations to adapt and embrace change faster than ever in the new world of work. In fact, a lot of organisations are struggling to reinvent the conventional tenets of employee engagement, performance management, and the rewards strategy, to foster a productive and inclusive culture. Employee rewards is no longer only about compensation; it now factors in new and diverse aspects such as wellbeing, family care, learning, and flexibility. Companies are now listening to their employees more than ever given that the needs of workers are evolving alongside the priorities of businesses. In the era of mass exodus, several companies are trying to attract talent by paying market-comparable cash and in some cases this is not really paying off. The template response to people quitting their jobs has been an increase in the financial component of their compensation. But this has failed to stem the tide of resignations, underscoring the need to consider new factors…
Read more at: https://www.peoplematters.in/article/benefits-and-rewards/whatshould-the-new-employee-rewards-package-look-like31847?media_type=article&subcat=employee-engagement&title=what-should7 the-new-employee-rewards-package-look-like&id=31847