As a part of Journal Club activity (Knowledge sharing platform at DR VN BRIMS), Trends in Human Resource with special reference to Human Capital were taken as a part of discussion. A thorough study of the last 12 months (2016-17) magazine was done which involved study of approximately 150 articles, 8-10 case studies and many more.
Human Capital which is a monthly HR magazine has:
1. 12-14 articles per magazine
2. Structure of the magazine is:
3. Food for Thought
4. Cover Story
5. Guest Column (Panel Discussion)
6. Case Study
The magazine highlights important areas of HR and the views of various HR experts from the industry and academics are taken upon the same. After going through various trends we shortlisted the 3 most spoken about trends in the industry and they are:
Skilling India/ Conjugation between B-schools and Business.
Women Entrepreneurship/ Work Life Balance.
Stated below are few thoughts of the HR experts on the trends:
1A) Skilling India/ Conjugation between B-schools and Business.
Automation puts techies’ jobs at risk
“Around 40% jobs will be redundant in next 3 years and anxiety is spreading across 3.7 million strong IT workforce.”
“Skilling India needs to evolve over and above the precept of a mere mechanism of meeting the demand-supply gap. It involves detailed planning and operationalization as a broader endeavor towards bringing about social transformation”
“In order to ensure that the skilling initiative is successful, a holistic approach seems to be the need of an hour. Industry experts as well as the prevailing conventional wisdom confirm that public perception on skilling and vocational training is abysmally low”
- By Rajib Kumar
Technology : A Learning Tool
“Employees still acknowledge that they have learning needs, and a reasonably positive intent. But, just like fitness and exercise, the ability to invest structured time and effort for learning remains a big question for most.”
-By Sandyp Bhattacharya (SVP and Head HR of Mahindra Comviva)
“HR Leaders have more information at their fingertips than ever before, and, have turned to analytics tools to find, hire and retain the best talent. Companies also want to implement performance management technology to appeal to an increasingly collaborative and tech-savvy crop of new age workers”
-By Nitya Nivali (HR Director at Progress Software India)
Delivering Value Driven Coaching
“No company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.”
– Jack Welch, General Electric
“Having a value proposition is good, but if we do not deliver what we promise, then it is not good. Therefore, value delivery is an important part of the cycle. And, it is equally important to understand that it is better and easier to keep our existing customers than to always find new ones. That is value retention.”
-By Sandhya Mathur, Founder and CEO, Inward Focus, Senior faculty at Symbiosis Coaching, U.S.
“More and more business is being conducted through project based virtual teams rather than manager-led intact workgroups. This means that the organizations will need to look at engagement, which is beyond the team and the manager. Organizational enablers and leadership will play a greater role as the businesses continue to evolve.”
1 B) Conjugation between B-schools and Business.
“According to a recent ASSOCHAM study, most of the 5500 B-schools in India are producing sub-par graduates who are largely unemployable resulting in these pass-outs earning less than Rs 10000/- a month”
- Zubin Zack, Director and Chief Recognition Strategist, O.C. Tanner India
“Organizations need people who are actually capable of driving ideas, but in most of the cases existing employees are already stretched by the work in hand.”
-Director, Corporate and Career Services, Great Lakes Institute of Management
Creating Leaders of Tomorrow
“To lead is a natural ability….is a concept that originated in India thousands of years ago. It has been reflected in mythology that the one who rises to the occasion and takes the charge is the one who possesses the inherent capability to lead.”
“The Gurukul had the supreme guide or the ‘Guru’, who meticulously planned the growth of the students, and looked at the student with a fair eye. It was also up to the student to get the most out of the Guru and taking his philosophy ahead. The business requirement of creating successors, gave birth to the initiative I-coach, this programme is developed on the concept of ‘shadowing’”
- By Sudakshina Bhattacharya, Senior VP HR at IL&FS Financial Services
Developing Human Capital through Skilling
“The functioning of the educational institutions, as well as the choice of education amongst the youth. Is remarkably influenced by the market economy. A quest for knowledge no longer remains as the only factor of motivation for prospective learners; rather, it is the availability of employment in the market that makes learners chooses their areas of study.”
“Skilling India must create pathways for better wages, and tangible, exponential growth in employment for direct beneficiaries. For employers and large industries alike, it must bring forward increased quality of services and productivity, better manpower and retention, improved occupational health and worker safety, time and cost savings along with alignment to international standards and more revenues.”
Career in Data Science- a Job in High Demand
“With machine learning, deep learning, advanced analytics and cognitive computing gaining greater relevance, the requirement has shifted from the traditional business data scientists to advance machine data scientists.”
The opportunities are unlimited and data science will become one of the most sought after and highest paid professions in the next 5 years.”
- By Dr. Sethuraman Janardhanan, Account Leader-Big data analytics at Happiest Minds Technologies
2) Work Life Balance
Is Your Workplace Happy?
Tony Robbins, the leading entrepreneur and bestselling author says, “All of us have two basic needs in our lives, the need to grow and the need to contribute.”
“Companies that visualize the importance of aligned values between the candidate and the company will go a long way in achieving greater productivity, team harmony and length of service from their new hires.”
- Nicolas Dumoulin, MD for Michael Page India
Striking the Right Balance
“People are better engaged because they are working with the people they connect with, since a large part of our lives are spent in an organization. It therefore becomes the responsibility of an organization to create an engagement, and an opportunity to ensure that people connect with the organization, stay longer and hence remain happy.”
- Seema Padman, Senior Director, Epsilon
Challenging Oneself for Organizational Growth
“Most workplaces encourage people with innovative minds, since they are the ones who bring a higher order of mental application to the job. A true professional with an innovative mind is simply not content with the way things are; and is constantly thinking of the way things ought to be, the improvements that can be made, and the greater success that can be attained.”
- Simanta Mohanty, HR Consultant, Community Empowerment Lab.
3) Demystifying Diversity
Diversity- the art of thinking independently together.
“When people from varied cultures and different ethnicity come together, they bring along a wide range of characteristics and experiences, thus, embracing diversity can broaden the skill base and the knowledge base, making it much more competitive and innovative.”
Work Place Diversity in the VUCA World
“Organizations need to create an environment that fosters open culture and the two-way communication between male and female employees and amongst each other as well.”
“An organization that is looking forward to long term growth and sustainability, needs to leverage and capitalize on generational diversity so that they can contribute to increased competitive advantage, enhanced workplace productivity and succession planning.”
Enforcing Diversity in Thoughts
“In addition to creating a workplace inclusive of race, gender and sexual orientation, many organizations are seeking value in something simpler; diversity of THOUGHT. Achieving the full potential of this diversity is a business priority that is fundamental to an organization’s competitive success and innovation.”
Understanding the Right Framework for Diversity
“ Creating a diverse team can leverage the carving of a new path for organizations to venture into and be successful in. It is only when people feel that they are accepted, they will be able to give their best at their workplace, and enable the company to reach new zeniths.”
- Ms Shikha Gupta, Senior HR Manager at Grabhouse.com
Let’s hold on to our horses and see what would influence Hr in 2018. HR teams may have more tools at their disposal than ever before. The challenge would be to focus on those resources for creating business outcomes in a way that generates maximum results for the companies.
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