IIM ROHTAK H U M A N E - R CLUB P re s e n ts
H R BULLETIN VOLUME 76
humane.r@iimrohtak.ac.in
H U M A N E - R | V O L U M E 76
HR BULLETIN
Are you ready for the future workplace? The definition of 'work' has changed and will continue to change as pandemic-driven trends evolve. Here are the top trends driving organisations' strategies for the coming months.
The combination of the COVID-19 pandemic and the off-site working it necessitated, the ‘Great Resignation’ it spurred, and the ongoing digitisation process, has greatly modified the way ‘work’ is defined. Many organisations now have to scramble to implement wide-ranging changes to stay relevant. We acquaint you with the top trends that indicate what organisations need to do in this situation of rapid flux.
Finding the tricky balance between physical and remote working models will be key
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Employers are experimenting with new work models like hybrid work, gig work, and part-time work, with the hybrid model emerging as the work model of the future. The transition to hybrid work is already underway, and is certain to become a permanent feature for organisations who find that a flexible work culture will enhance employee productivity, satisfaction, and work-life balance. “Hybrid-working culture is and will be the future for those businesses who want to reach a state of normalcy in this new normal. Additionally, as these changes take centre stage, employers will need to further understand that the new way of working will have its fair set of challenges. To help employees make a smooth transition, employers will need to take on a more empathetic leadership approach, put greater focus on health, wellness, recognition, and overall work-life balance of their employees. Taking on more employee-friendly initiatives will be an effective way to ensure the success of a hybrid-working model,” says Birlasoft Chief Delivery Officer Shreeranganath Kulkarni. Fluid workforce the norm for the future? The fluid workplace of the future places limited importance on location/geography, and employers will explore various work models to stay competitive. “New work models like gig working (use of contractual workers and freelancers), hybrid working, and part-time working are in the exploratory stage while outsourcing jobs to agencies/partnering with companies emerge as a norm. However, employers may still construe freelancers as unemployed, and hence a full-time worker is apprehensive about making this transition,” says the Randstad - Future of Work Report. Flexibility wins Mercer|Mettl CEO Siddhartha Gupta says the era of ‘9 to 5’, ‘Monday to Friday’ is coming to an end. The year 2022 will be the year of digital nomadism where employees will have the freedom to customise their work and career experiences with their well-being at the centre of it. “In addition, we will see an increase in the implementation of a ‘Listening Culture’ .i.e. the formation of workplaces guidelines and policies based on employee feedback. Fluid hierarchy and organisational structures will also come into play with an emphasis on transparency and accountability. And lastly, re-conceptualising of productivity will take place. This will be done because the modern workforce is digital and distributed across the world. Furthermore, the notion that productivity equates to the number of hours is outdated,” he adds. Upskilling on the radar Since the advent of the pandemic, uncertainty has been constant. The result? Agility and upskilling have taken centre stage. “As digital transformation plays a role in organisations’ efforts to recover and be more resilient, and hybrid multicloud, security, automation, and artificial intelligence become even more important, professionals have felt compelled to learn a host of new technical and soft skills. Hence, upskilling continues to be paramount as we navigate the health crisis and companies continue to prioritise skill-based hiring and skill-building to not just make the most of their digital transformation efforts, but also drive greater value for their clients,” says Nutanix People Business Partner Head India Ramya Menon. Lendingkart CTO Giridhar Yasa adds that upskilling yourself on the job is very important. “Externship is an emerging trend in this context. Doing an externship is a great way to get paid while learning on the job. It also helps upskill and become ready for an even better opportunity. There are many good companies that enable externship for young professionals. We, at Lendingkart, value candidates who have shown an attitude towards constant learning,” he says. Which technical skills will really matter? In the pandemic’s wake, every business has transformed into a technology business and companies have been embracing digitalisation to stay relevant and operate sustainably. Analysts predict that direct investments in digital transformation initiatives will continue to see strong growth and form 55 per cent of all investments in information and communications technology by the end of 2024. Even though the business focus varies across industries, the technical skills they require to fulfil their digital goals are generally similar across the board…
Read more at: https://www.peoplematters.in/article/strategic-hr/are-you-readyfor-the-future-workplace-32052
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This is the time to reframe our assumptions about work: Boston University’s Professor N. Venkat Venkatraman In a conversation with People Matters, Professor Venkat Venkatraman, David J. McGrath Jr. Professor of Management at Boston University, shares the five ‘R’s of 2022 for HR and talent leaders: Reframe, Recruit, Retrain, Retain, Reward. Professor N. Venkat Venkatraman is the David J. McGrath Jr. Professor of Management at Boston University’s Questrom School of Business. One of the world’s most-cited researchers in strategy and digital business, he has won prizes for his research. He has consulted and lectured all over the world, including teaching stints at MIT Sloan School and London Business School. In 2017, he authored The Digital Matrix: New Rules for Business Transformation Through Technology, LifeTree Media. In this conversation with People Matters, Professor Venkat talks about how we are adjusting our assumptions and expectations for the year to come. Here are the highlights of the interview. How has the year 2021 been in the context of the world of work? What have been some of the positive trends that emerged during the year? I would characterise 2021 as an inflection point: a point in time for companies to revisit and reassess their assumptions and adjust their expectations. Innovations arise out of adversity and challenges and COVID-19 surely created chaos in terms of how we live and work (learn and play!). Specifically in terms of work, companies—across the board—rapidly adapted to virtual work with the available technologies and tools. In the beginning, some perceived the pandemic as temporary but soon realized that the shift is likely to be more permanent…
Read more at: https://www.peoplematters.in/article/strategic-hr/this-is-thetime-to-reframe-our-assumptions-about-work-boston-universitys-professor-nvenkat-venkatraman-32016
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How transforming shop floor can help boost employee retention in manufacturing industry Keeping pace with automation, production-line jobs now require special sets of skills to operate the complex machinery and workers across generations need to acquire the same. These shifts have created a need for more skilling programs. India’s manufacturing sector is getting a boost, helped by fresh investments and growth in key sectors such as pharmaceuticals, automotive, and electronics. The manufacturing industry currently accounts for 17% of the country’s GDP, but this number is expected to grow as multinational corporations (MNCs) continue to shift their production away from China in a bid to diversify the supply chains. Furthermore, high-profile global companies like Tesla and Apple are making significant investments to create strategic manufacturing hubs in India. In addition, the country also benefited from the latest lockdowns in other countries, due to the ongoing pandemic. These shifts are reinvigorating the ‘Make in India’ initiative and associated employment programs, ensuring that manufacturers can modernise their operations effectively and retain workers to keep up the production. As the shop floor undergoes continuous transformation, automation and technological advances are reshaping the production line…
Read more at: https://www.peoplematters.in/article/employeeengagement/how-transforming-shop-floor-can-help-boost-employee-retentionin-manufacturing-industry-32063
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How can coaching counter the effects of the great resignation? It’s not uncommon to see so many resignations given how many open positions exist. What’s different is why. Hence coaching can reduce turnover and shape the influx of new workers. More than 4 million Americans, or 2.9% of the workforce, walked off the job in August. That is a record, according to the U.S. Bureau of Labor Statistics. As many as 1 in 4 people are expected to quit their jobs by the time 2021 is over. It’s not uncommon to see so many resignations given how many open positions exist. What’s different is why. Holding out for higher wages, government benefits, and the lingering pandemic are all playing a role in The Great Resignation. But economists and researchers are starting to think the biggest factor may be changing attitudes about work and the perception people have about their work. Working remotely, homeschooling children, and recognizing what work is essential are all new experiences for millions of workers who have decided they can’t go back to the status quo. Business owners are learning they have to do something different to keep workers in place. Essentially, employers need to shape a work experience that earns mutual commitment. What exactly are employers doing to make people want to stay? Coaching is one way they can support their workforce through turbulent times, invest in the future development of their employees, and help them recraft job roles to fit changing priorities and working arrangements. Reducing turnover As organizations and individuals emerge from lockdowns and remote working, the evidence suggests people want different experiences from their work environment…
Read more at: https://www.peoplematters.in/article/training-development/howcan-coaching-counter-the-effects-of-the-great-resignation-32057
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Woobly becomes the first Indian startup to make it to 10X Incubator portfolio As a 10X Incubator portfolio company, Woobly will bring to market a smart IoT device, Woobly | WaiterLITE, which looks like a lamp but acts as a digital assistant to the guests and waiters. Woobly, a tech start-up in ultra-luxury dining, has got accepted into 10X Incubator, founded by billionaire Grant Cardone and Jared Yellin. Woobly was selected out of over 11,000 ideas submitted and is the only Indian start-up to be part of the incubator so far. Florida-based 10X Incubator, launched by Cardone Enterprises and CILA Labs, helps entrepreneurs all over the world take their tech ideas to the next level and transform them into thriving businesses by providing the resources they need to bring their ideas to life. 10X Incubator is the first and only tech Incubator to provide software development, go-to-market, branding, sales, customer support, legal, relationship capital, financial planning, and administrative services at cost while becoming a partner in the venture. Its mission is to launch 10,000 tech companies in 10 years. In less than one year, 10X Incubator has successfully Co-Founded over 100 tech companies with entrepreneurs from all over the world and all walks of life. As a 10X Incubator portfolio company, Woobly will bring to market a smart IoT device, Woobly | WaiterLITE, which looks like a lamp but acts as a digital assistant to the guests and waiters. Launched in 2016, Woobly enables ultra-luxury restaurants to deliver impeccable dining experiences…
Read more at: https://www.peoplematters.in/news/leadership/wooblybecomes-the-first-indian-startup-to-make-it-to-10x-incubator-portfolio-32058
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