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H R BULLETIN VOLUME 82
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H U M A N E - R | V O L U M E 82
HR BULLETIN
The future of talent management landscape
While many organisations have already begun their digital transformation journey, we will see increased adoption and integration of advanced TMS for the entire life-cycle of talent management in future.
Businesses have never done as much hiring as they do today. Across all domains, organisations are in constant need of good quality employees with talent and aptitude for the jobs. To remain competitive in today’s changing world of work, organizations are re-evaluating their talent management strategy. The talent management (TM) landscape is constantly changing and is no longer simply a functional aspect of HR. It has become an essential part of business strategy. The past few years and the COVID-19 pandemic have shown us increased
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use of technology in HR. With processes like remote/hybrid work and virtual onboarding becoming the new normal, the importance of HR tech is greater than ever. Organisations need to stay in step with trends in digital and human spheres for a holistic approach towards the entire employee experience. Technological advancements have led to the genesis of the talent management software (TMS), an integrated system that includes recruiting solutions, learning and management, performance management, planning and many more. While many organisations have already begun their digital transformation journey, we will see increased adoption and integration of advanced TMS for the entire life-cycle of talent management in future. A variety of TM technologies are helping HR professionals to be more strategic, more informed, and manage their biggest challenges today, with other technologies soon to appear on the horizon. The ‘single system of record’ or ‘employee self-service (ESS) system’ is no longer the right approach. There is a new set of software to create end-to-end employee journeys and provide an impeccable employee experience supercharging employee engagement and culture. This new market, the “employee experience platform” market, will be a hot space in coming times. There is a need for anywhere operations. Signs indicate that the remote work trend will continue even if the pandemic wraps up. Integration of digital technologies to enable employees to work, collaborate and deliver from anywhere, be it remote, hybrid, various locations and time zones is the way forward. A wide range of tools are already available for remote work but we will see further upgrades in the near future. Talent managers and leaders are increasingly adopting technologies like Artificial Intelligence (AI), Machine Learning (ML), Data Analytics and Cloud in their talent management ecosystem. Recruiting is a big AI market in HR, with AI-based sourcing, assessment, screening, interviewing, and candidate experience management. HR leaders are leveraging data, intelligent algorithms, and social sensing tools to make recruitment more effective Skilling and reskilling is a critical area of talent management. It’s important to establish training and reskilling pathways to transition people to new or evolved roles. To integrate an effective system and accelerate employee training and development, augmented reality (AR) and virtual reality (VR) will play a bigger role. Hyper-automation is another important area of automated tasks. Transactional tasks are being assigned to bots which can enhance employee experience by immediately providing workers with the information they need. Chatbots can also interact with promising candidates before in-person job interviews to help reduce the time-consuming hiring process. One prominent trend is augmented analytics, a data-driven method that uses machine learning and language processing to automate insights. Augmented analytics evaluates and analyses employee data to generate better insights, spot trends, and keep track of key indicators. These insights are then presented in easy-to-understand, conversational format data. Companies rarely find the best fitting people for their open positions right away. HR scouts LinkedIn and social media to find potential candidates. However, these platforms have become too massy, highly cluttered and irrelevant and are unable to deliver focused requirements. Sector-specific platform is the buzzword for fulfilling professional needs. These platforms are driving meaningful engagements and are fostering a strong employer-employee relationship, which can enable leaders to find and hire employees who fit into the teams and contribute to the workplace environment. The future of human resource management is closely intertwined with technology. The industry, specifically talent management, is in the midst of massive change. The companies that embrace these shifts and continually reinvent their talent management will be better positioned for lasting success. And that process starts with picking the right technologies and tools that can improve diversity in the workplace, enhance the employee experience, retain and attract employees, increase staff engagement, drive productivity, and so much more.
Read more at: https://www.peoplematters.in/article/talent-management/thefuture-of-talent-management-landscape-32587
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Job fest ahead as India Inc. expects hiring to go up by 31% in 2022, says report As per the Decoding Jobs Industry Sectoral Reports 2022, hiring activity is likely to increase by 31% this year and the top three industries expected to hire the most are automobiles, IT/ITes, and internet businesses.
Hiring activity is expected to jump by 31% this year across seven key sectors: automotive, BFSI, global in-house centres, heavy engineering and manufacturing, internet businesses, information technology, and pharmaceuticals, according to the third annual Decoding Jobs Industry Sectoral Reports 2022, published by digital recruitment platform Taggd, in collaboration with the Confederation of Indian Industry and Sunstone Eduversity. According to a report carried by The Economic Times, the top three industries expected to hire the most number of employees in 2022 are automobiles, IT/ITes, and internet businesses. Hiring activity across global in-house centres in India is expected to grow by 31% in 2022, in comparison to 27% in 2021. "The future is bright for India Inc. in 2022," said Devashish Sharma, President of Taggd. As per our data, hiring increased by 34% in 2021 especially in comparison to 2020, with industries like manufacturing and automotive showing signs of recovery, and we expect it to increase by 31% in 2022. While we confronted some issues, including the ongoing tech talent shortfall, skills shortage, and the Great Resignation, we've come back stronger, with most sectors displaying a greater appetite for hiring in 2022.“…
Read more at: https://www.peoplematters.in/news/recruitment/job-fest-aheadas-india-inc-expects-hiring-to-go-up-by-31-in-2022-says-report-32574#no_thanks
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Mindfulness, the myth of multitasking and winning Our inner game Mindfulness is the tool that helps us ace our inner name. It is defined as the awareness that emerges through paying attention on purpose, in the present moment, and ‘non-judgmentally’ to the unfolding of experience moment by moment. Rishabh Pant was a budding young cricketer who became famous after the 2017 edition of the Indian Premier League. On May 4, 2017, Pant hit 97 runs for 43 balls in the 42nd match between Delhi Daredevils and Gujarat Lions. His innings included 6 fours and 9 sixes. He was instrumental in overhauling the Gujarat team’s total of 208 runs. Delhi team reached 214 runs in just 17.3 overs. The most revealing insight into Pant’s batting philosophy was provided by Sanju Samson. During the course of their 143-run partnership in 63 balls for the second wicket, Pant gave Samson some useful advice. “I started the innings really well. After hitting two sixes [in an over], I thought about taking a single. He [Pant] came to me and told me: ‘Bhaiyya, zyaada socho mat, bas maarte raho (brother, don’t think too much, just keep hitting)’.” Reflecting on his mindset during the match, Pant said, “I was not thinking I will get out or something like that. If the ball is bad, you have to punish it.” Rishabh Pant has gone on to become one of the important members of the present-day Indian cricket team and has won many hearts with his performance under pressure, the most recent being the most-recent test series India played in Australia in 2020-21. What works in sports, though, is often true in our work lives too. Most often we can see that when we are working at our best, our minds are quiet and relaxed. Such moments are rare but when they happen, it feels like magic…
Read more at: https://www.peoplematters.in/article/strategic-hr/mindfulnessthe-myth-of-multitasking-and-winning-our-inner-game-32588
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Shark Tank India and how we fail to spot great talent lying beyond the realm of Unicorns Shark Tank India judge and Lenskart founder Peyush Bansal says talent is not only what we see shuffling in the so-called unicorns of India, but it is sitting multi levels below. Reflecting back on his learning from business reality show Shark Tank India, Lenskart founder Peyush Bansal, who is also one of the judges on the show, said the big war of talent that we see today is because the recruitment processes are largely designed to look for people working with brand names and miss out on searching for potential. “I went to Shark Tank to give advice to entrepreneurs. I came back learning more than I could give. Talent is not only what we see shuffling in the so-called unicorns of India, but it is sitting multi levels below, but we never reach them because our recruitment processes are largely designed to look for people working with brand names, we all see on TV, and not necessarily searching for potential (and this is why there is such a big talent war),” Bansal said, sharing his personal learnings in a social media post on Tuesday. If companies can master how to spot this talent, it becomes a moat for them and a win-win situation as more talented people get the opportunity to grow and prove themselves, he added. Bansal said that “thinking technology in solution of every problem is a must”…
Read more at: https://www.peoplematters.in/article/talent-acquisition/sharktank-india-and-how-we-fail-to-spot-great-talent-lying-beyond-the-realm-ofunicorns-32345
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How ‘people-first’ and ‘tech-led’ business approach will evolve in 2022 It is imperative for organizations to understand that matching a people-first approach to tech-led business initiatives requires a delicate balance of leveraging new trends within the hybrid workplace to deliver effective roll-out of new initiatives to employees. When we approached 2021, there was tremendous hope the world would see some semblance of the way things were during pre-pandemic times. However, as we launch into 2022, HR leaders still face unique challenges, especially for those who embraced a people-first and tech-led approach. Digital transformation has spurred a lot of investment over the last few years and organisations are now questioning whether they are actually getting what they paid for. The result has been a lot of lightbulb moments, where rather than figuring out why employees are leaving, organisations will review why the expensive digital transformation projects did not produce the expected results. The good news is the identified problem can be fixed. Digitally transformed enterprises are now seeking to marry the digital with the human. Using analytics and data, organisations will now move on to monitor how employees are utilising the technology platforms provided to them. Another challenge is the continued acceleration of digital adoption – the urgency of upscaling and digitizing functions such as internal communications, HR processes, and IT systems to ensure business continuity, has taxed employees who have had to constantly pivot to 'new and improved' versions of applications or digital tools…
Read more at: https://www.peoplematters.in/article/c-suite/how-people-firstand-tech-led-business-approach-will-evolve-in-2022-32597
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